Iowa Economic Development Authority launched its Small Business Utility Disruption Prevention Program Friday morning, the department announced, with grants up to $7,500 going to small businesses in the state.
The program will give $14.5 million in CARES Act funding to companies with fewer than 50 employees and a non-residential location. To be eligible, businesses also must have unpaid utility bills between March 17 and June 30 and not have received funding through IEDA’s Small Business Relief Grant Program.
Businesses do not need to be open during the entire pandemic, but they must be open at the time of the application.
“Iowa’s small businesses and nonprofits keep our communities and our economy moving forward, and they have been hit hard in these unprecedented times,” said Debi Durham, director of IEDA and Iowa Finance Authority, in a statement.
Applications, available at iowabusinessrecovery.com, will be open through August 21 or when the funds are depleted.
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