We are aware that business owners have many questions and concerns about what the coming weeks will bring. Here are some resources to turn to for advice. We will do our best to continue sending important information as we receive it, without overburdening you with emails.
Here is the latest information we have regarding disaster assistance from the U.S. Small Business Administration (SBA).
We’re waiting on Iowa to be designated as eligible for small businesses in the state to apply for assistance in the form of Economic Injury Disaster Loans (EIDL). Because these are Economic Injury loans, the rules require each state to demonstrate economic losses to SBA before we can declare the counties within a state as eligible to apply for the loans. The Governor’s Office has been working with SBA’s Office of Disaster Assistance to get the appropriate statistics for the application. Unfortunately, we don’t have a timetable as to when a decision will be made, but hopefully it will be soon.
Small businesses who have been impacted and want to pass their information on to the state are encouraged to reach out to their County Emergency Management office (see attached list). They will then provide statistics on the number of affected businesses to the state as part of Iowa’s application to SBA.
Eligible businesses would apply
directly
to SBA for assistance as EIDL is a direct loan program.
As soon a declaration is made in Iowa, we will be getting the word out from our office through every means we have. You can also go to
www.sba.gov/disaster
, click on the “Apply for Assistance” button and then click on “Eligible Disaster Areas” and search “Iowa” to see what’s available. The most recent declaration will be at the top and that’s where you’ll find information on the COVID 19 EIDL Loans as soon as Iowa is declared eligible.
This website is also where businesses will apply for these loans once Iowa is declared eligible.
We also have a
website
that encompasses ALL the information we have available for Small Business related to COVID-19. We encourage you to check it out.
The U.S. Chamber is working closely with the White House, U.S. government agencies, and foreign government officials to inform and equip businesses with the most important and up-to-date information to prevent the spread of the virus and prepare businesses for the near and long-term impact. You'll find business toolkits, information on the Chamber's role in advocating for local business during this emergency situation, how businesses are responding, and what the economic impact is likely to be in the U.S. and around the world.
Iowa Workforce Development is offering guidance about unemployment insurance for employers and workers.
CG Public Health has compiled guidance at the local level for businesses, schools, childcare, and the general public. They have also set up a hotline, which is being staffed from 8AM-4:30PM Monday-Friday. Contact them at 641.494.3546 or 641.494.3547.
