Coronavirus Emergency Loans Small Business Guide and Checklist- Prepared by the U.S. Chamber of Commerce
March 25, 2020
Financial assistance for targeted small businesses impacted by COVID-19
A fund has been created to support Targeted Small Businesses (TSB) with zero employees that have been economically impacted by the COVID-19 pandemic. The program offers eligible small businesses grants ranging from $5,000-$10,000 to businesses that are sole proprietors or single-member LLCs 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.
How to Apply
March 24, 2020
On March 23, Governor Reynolds announced the launch of a new Iowa Small Business Relief Program to provide financial assistance to small businesses economically impacted by the COVID-19 pandemic. The program offers grants ranging from $5,000-$25,000, in addition to offering a deferral of sales and use or withholding taxes due and waiver of penalty and interest to eligible businesses.
Visit the website for complete details and application (iowaeconomicdevelopment.com)
As public health professionals, you work within communities and can assist in identifying the infectious disease response necessary to support citizens.
Please use this guide to determine if the federally funded Community Development Block Grant (CDBG) administered by the Iowa Economic Development Authority (IEDA) can be of assistance.
Iowa Economic Development Authority (IEDA)
Contact: Nichole Hansen
email@example.com or 515.348.6215
Non-profit organizations – letter application MUST come from city or county, but the money can be subgranted to a non-profit to carry out the activity.
Method of Application
Email completed letters of application to firstname.lastname@example.org or mail to:
Iowa Economic Development Authority
1963 Bell Avenue, Suite 200
Des Moines, Iowa 50315
March 26th -
The SBA is currently working to restore access to the Electronic Loan Application portal. When the portal is back up and running, we highly encourage people to apply for an Econ
omic Injury Disaster Loan online via the SBA portal: https://disasterloan.sba.gov/ela/
U.S. Small Business Administration
Processing and Disbursement Center
14925 Kingsport Rd.
Ft. Worth, TX 76155-2243
(The SBA recommends online or email. Mailing the application will add 1-2 weeks to the application process)
If it turns out that the applicant can log-in to the Electronic Loan Application at that point, they should transfer the information they typed into the PDF version of the forms and enter the information into the Disaster Loan Application Portal. While this may be duplicative work, the Disaster Loan applications submitted through the portal will take less time for the SBA to process.
Automatic Deferment on Existing SBA Disaster Loans Through End of 2020 (sba.gov, 3/23/20)
Today, U.S. Small Business Administration Administrator Jovita Carranza announced changes to help borrowers still paying back SBA loans from previous disasters. By making this change, deferments through December 31, 2020, will be automatic. Now, borrowers of home and business disaster loans do not have to contact SBA to request deferment.
USDA Rural Development Implements Immediate Measures to Help Rural Residents, Businesses and Communities Affected by COVID-19
USDA Rural Development has taken a number of immediate actions to help rural residents, businesses and communities affected by the COVID-19 outbreak. Rural Development will keep our customers, partners, and stakeholders continuously updated as more actions are taken to better serve rural America.
Read the full announcement to learn more about the opportunities USDA Rural Development is implementing to provide immediate relief to our customers, partners, and stakeholders.
Facebook is offering $100M in cash grants and advertising credits to help small busiensses during the COVID-19 crisis. facebook.com