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COVID-19: Financial Resources

COVID-19: Financial Resources

As the financial effects of the COVID-19 pandemic take hold, several new assistance programs are being announced at the federal, state, and local level. We will be updating this page as information is made available about these various programs. Please bookmark this page, as it will be updated regularly.

SMALL BUSINESS PAYCHECK PROTECTION PROGRAM
The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $250 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Details on eligibility and benefits can be found in an easy-to-read infographic here: https://www.uschamber.com/sites/default/files/023595_comm_corona_virus_smallbiz_loan_final_revised.pdf

 

USDA RELIEF PROGRAMS
The USDA has announced several new relief programs, including:

- Additional flexibility for crop insurance providers: https://rma.usda.gov/en/News-Room/Press/Press-Releases/2020-News/USDA-Adds-Flexibilities-for-Crop-Insurance-to-Support-

- A USDA Rural Development COVID-19 Response Page: https://www.rd.usda.gov/coronavirus

- Temporary exceptions for housing program: https://content.govdelivery.com/accounts/USDARD/bulletins/2839847

 

SOLE OPERATOR ASSISTANCE FUND
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. Click here to complete the application: https://iowa01.na2.documents.adobe.com/public/esignWidget?wid=CBFCIBAA3AAABLblqZhBiEb2ZquFiGeLF5-m9tSQctJgo9yG5I6tWCOtv8KB1eESmwhgGQFw_pS02MzObMO8* 

 

IOWA SMALL BUSINESS RELIEF PROGRAM
The Iowa Small Business Relief Program provides financial assistance and tax deferrals to any Iowa business that has been economically impacted by COVID-19.  Apply at this link before noon on March 31sthttps://www.iowaeconomicdevelopment.com/our-agency-detail-resources/6710

 

US SMALL BUSINESS ADMINISTRATION CORONAVIRUS GUIDANCE AND LOAN RESOURCES
Information on the Economic Injury Disaster Loan Program, SPA Express Bridge Loans can be found here: https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources 

 

STUDENT LOAN RELIEF
Visit the Department of Education's COVID-19 response page to see terms for student loan relief and to apply: https://studentaid.gov/announcements-events/coronavirus

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