City of Hawarden issued the following announcement on Mar. 27.
Hawarden Businesses,
The State of Iowa has just launched a grant program (Iowa Small Business Relief Program) for small business owners effected by the COVID-19 shutdowns. It is for businesses that have between 2 and 25 employees and the grant provides between $5,000 to $25,000. The grant application is live as of 8:00am on March 24, 2020. Application deadline is Tuesday, March 31, at 12 p.m. I encourage all effected businesses in Hawarden to apply as early as you can. The funding is limited. Please take the time now to apply for your grant….. Iowa Small Business Relief Fund – https://www.iowaeconomicdevelopment.com/our-agency-detail-resources/6710
COVID-19 Targeted Small Business (TSB) Sole Operator Fund: A fund has been created to support TSBs with zero employees that have been impacted by the COVID-19 pandemic. Review the requirements, eligibility guidelines and complete an application here. For TSB certified, or have an application submitted to the Iowa Economic Development Authority (IEDA) by April 10, 2020 to become TSB certified. The Targeted Small Business (TSB) program is designed to help women, individuals with minority status, service-connected disabled veterans and individuals with disabilities overcome some of the hurdles to start or grow a small business in Iowa.
Targeted Small Business (TSB) Application
https://iowaeda.microsoftcrmportals.com/tsb-application-start/
Targeted Small Business (TSB) Sole Operator Fund Application (Must be TSB Certified before April 10, 2020 or already certified): https://www.iowaeconomicdevelopment.com/programDetails?pid=137&ppid=26
In addition to the above assistance, please check out these other assistance programs tied to the COVID-19 shutdown.
Grants:
Facebook Small Business Grants Program: Facebook is offering $100M in cash grants and advertising credits to help small businesses during the COVID-19 crisis. www.facebook.com
Loans:
SBA Disaster Declaration – Low interest/long term loans for businesses effected by the COVID-10 shutdowns: Applications are available through the SBA’s website: https://disasterloan.sba.gov/ela/
The SBA issued a disaster declaration for the State of Iowa as of March 21, 2020. The declaration allows pandemic-impacted small businesses to apply for low-interest support loans. The declaration comes after Iowa Governor Kim Reynolds submitted a federal funding request via the SBA’s Economic Injury Disaster Loan program. Applications are available through the SBA’s website: https://disasterloan.sba.gov/ela/
Carranza Implements Automatic Deferment on Existing SBA Disaster Loans Through End of 2020
Release Date:
Monday, March 23, 2020
Release Number: 20-27
Contact: Press_Office@sba.gov, (202) 205-7036
WASHINGTON – 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.
Other Assistance:
COVID-19 Unemployment Information – https://www.iowaworkforcedevelopment.gov/updates-and-resources-about-covid-19 If you are planning to layoff or reduce hours for employees, please check this link out: https://www.iowaworkforcedevelopment.gov/updates-and-resources-about-covid-19 and the information below.
Gov. Reynolds announces unemployment insurance tax extension to assist small businesses
DES MOINES – Today, Governor Reynolds announced that first quarter unemployment tax payments that are due April 30th will be delayed till the end of the 2nd quarter, July 31, 2020. Eligible employers include those employers with 50 or fewer employees. Eligible employers also must be in good standing with no delinquencies in quarterly payments.
To qualify for the extension, the employer must be current on all quarterly tax payments before the 1st quarter of 2020 regardless of whether or not they are seeking an extension of tax payment. All employers must file Quarterly Employers Contribution and Payroll Report electronically by 4:30 on April 24th to avoid late report filing penalty. Payments for Q1 would be due when Q2 payments are due, July 31, 2020. No interest or penalties will accrue for delayed payments for the eligible group. 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, which contain employee wage data necessary to compute benefit eligibility and amounts to be paid.
For an employer who elects to take advantage of the extension, please contact our Unemployment Insurance Tax division at either 1-888-848-7442 or by sending an email to Q1tax@iwd.iowa.gov. If an employer would like to request additional time to pay the tax, please contact the Unemployment Insurance Tax Division. IWD recommends sending an email versus a phone call as there is a high call volume during this time that may lead to extended wait times. Employers must notify IWD of intent to delay payment by Friday, April 24th at 4:30 pm.
Larry Cope
Community and Economic Development Director
d: 712-551-4402
Original source can be found here.
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