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Financial assistance for targeted small businesses
Following
up on our email regarding resources for small businesses impacted by
the COVID-19 pandemic, I wanted to pass along information about
a fund created to assist women and minority owned businesses with no
employees struggling during this time.
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 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. This program will continue to process applications 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 Center for Economic Success will review grant applications for eligibility and determine the grant amount by the level of impact including loss in sales revenue and employees. The Iowa Center for Economic Success will also provide recommendations of award decisions to IEDA. IEDA will verify and/or finalize the applicant’s TSB certification and notify the applicant of the award decision. You can find further details and eligibility requirements here. Paul Pate Iowa Secretary of State |