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State awarding $70 million more in grants to small businesses

News

April 30th, 2020 by Ric Hanson

(Radio Iowa) – The state’s small business grant program that handed out 24 MILLION dollars earlier this month has been revived with federal economic stimulus money. Iowa Economic Development Authority director Debi Durham says hundreds of small business owners shut out of the initial run are being notified by email that they ARE getting a grant. “We know that every day that goes by right now is a critical one for so many Iowans,” Durham says.

About 14-thousand Iowa small businesses submitted applications for 148 MILLION dollars in grants from the Iowa Small Business Relief Program. Durham says applications were “triaged” and more than 12-hundred business owners received grants in early April. Hundreds more have just been notified they’re getting grants. “As of today, a total of more than 2600 restaurants, breweries, florists, salons, boutiques, gyms and a wide array of other small businesses that line the streets of communities in all 99 counties have been awarded Small Business Relief Grants for a total of approximately $50 million,” Durham says.

Durham says the governor is seeking more federal money for the program. “I can tell you that the spirit of our business owners remains resilient, strong and hopeful for tomorrow,” Durham said, her voice breaking with emotion as she continued. “Our team is fueled from the notes that have been pouring in from all over our state from business that are telling us they are hanging on and hope they see us upon their reopening.”

Businesses are notified by email that a check is in the mail.