Hunter
05/21/20
The state of Iowa has distributed about $71 million through the Iowa Economic Development Authority to over 3800 small businesses to help them through the coronavirus pandemci; and there’s more to come.
The Cedar Rapids Gazette reports that another $23 million will be distributed , part of federal CARES Act monies Iowa received.
The state program got requests for $148 million in assistance in the form of small businesss grants ranging from $5000 to $25,000. Eligible businesses must have employed between two and 25 people before March 17th and experienced disruption because of the pandemic.
The first round of grants totaling $24 million went primarily to bars and restaurants who were closed by the governor’s proclamation.
