Additional Business Resources
Iowa Small Business Relief Grant and Tax Deferral
The purpose of Iowa Small Business Relief Grant and Tax Deferral is to provide financial assistance and/or tax deferral to businesses that are experiencing business interruption due to the COVID-19 virus. The program provides grants in the amount of $5,000-$25,000 for businesses employing 2-25 employees prior to March 17, 2020.
12:00 pm (noon), March 31, 2020. This program is NOT first-come, first-served. Applications will be sorted by county and ranked by business impact level.
Iowa Targeted Small Business (TSB) Sole Operator Fund
The program offers eligible small businesses that have been economically impacted by the COVID-19 pandemic grants ranging from $5,000-$10,000 to businesses that are single owners with no employees that are also TSB certified, or have an application submitted to the Iowa Economic Development Authority (IEDA) by April 10, 2020 to become TSB certified.
Applications accepted on an ongoing basis until all funds are exhausted. Applications are processed in both order of receipt of application and submission of all required documents and Targeted Small Business certification approval.
Iowa Workforce Development (IWD) and Unemployment Deferral
Unemployment Tax Insurance Payment Deferral
Governor Reynolds announced on March 23, 2020, that first quarter unemployment tax payments for employers with 50 or fewer employees can be
. Payments for Q1 would be due when Q2 payments are due, July 31, 2020. No interest or penalties will accrue for delayed payments. The extension of payment deadline without interest is not a holiday or forgiveness and the taxes will be due July 31, 2020. Employers still need to file their quarterly reports by April 24.
Iowa Workforce Development has put together: FAQs sheets on unemployment for both Employers and Employees, information from the US Department of Labor, and an Unemployment Insurance informational webinar for claimants (employees).
Small Business Administration (SBA) Disaster Assistance
The SBA issued a disaster declaration for the State of Iowa as of March 21. This declaration makes low-interest federal disaster loans for working capital available to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).
Facebook Small Business Grant
Facebook is offering $100M in cash grants and ad credits for up to 30,000 eligible small businesses in over 30 countries where we operate.