A joint partnership established between Northeast Iowa Community College, Greater Dubuque Development Corporation (GDDC), The Small Business Development Center (SBDC) and the East Central Iowa Intergovernmental Association has expanded to help business owners, nonprofits and self-proprietors to navigate the application process for federal, state, and local funding.
Trained experts from the organizations will help guide businesses, nonprofit leaders and self-proprietors seeking assistance through the programs including the Coronavirus Aid, Relief, and Economic Security (CARES) Act, passed by Congress on March 27, 2020, which is intended to assist business owners with their needs during the COVID-19 emergency. Many new resources are now available for ALL businesses with less than 500 employees, including the following:
- Payment Protection Program (PPP) Loans that will provide cash-flow assistance through 100% federally-guaranteed loans to employers who maintain their payroll during this emergency.
- Small Business Debt Relief Program that provides immediate relief to small businesses with non-disaster Small Business Administration (SBA) loans; in particular 7(a), 504, and microloans.
- Economic Injury Disaster Loans & Emergency Economic Injury Grants (EIDL). These grants provide an emergency advance of up to $10,000 to small businesses and private non-profits harmed by COVID-19 within three days of applying for an SBA Economic Injury Disaster Loan (EIDL).
- Families First Coronavirus Response Act (FFCRA), which is legislation that requires certain employers to provide their employees with paid sick leave or expanded family and medical leave for specified reasons related to COVID-19.
In addition to these newly-approved federal programs, the Business Helpline is still available to assist and guide businesses on state initiatives including the Targeted Small Business Sole Operator Fund and Tax Relief program through Iowa Economic Development Authority.
Business owners may call (563) 588-3350 between 8:30 AM-4:00 PM, Monday through Friday, or email at email@example.com.