Jones Co. small businesses awarded IEDA grants

     Governor Kim Reynolds launched the Iowa Small Business Relief Program to provide financial assistance to small businesses that have been economically impacted from the COVID-19 pandemic. The program offers eligible small businesses grants ranging from $5,000 to $25,000 in addition to offering Iowa businesses a deferral of sales and use or withholding taxes due and waiver of penalty and interest. The application window for this program is closed as of noon, March 31.

     Iowa Small Business Relief Grant award notifications were made the week of April 7. All applicants that were awarded a grant have received notification.

     At this time, all available funds have been expended. If additional funding becomes available, additional awards will be made from the current pool of applicants. IEDA will not open a new round of applications.

     Eligible businesses/applicants that do not receive a notification between April 7-10 will be considered for potential funding rounds in the future.

     Every application received was triaged for eligibility and economic need. The triage screening included an assessment of each applicant’s projected revenue loss for the period of March 15 to April 15 as supported by the applicant’s financial documentation. For the first round of funding (April 7-10), priority was given to businesses demonstrating projected revenue losses of 75 percent or greater and businesses that were among the first to close due to the public health emergency.

     Businesses were required to submit a description of economic injury and workforce impact, estimate of revenue loss from March 15 to April 13, three-month income statement, revenues for March 2019 and March 2020 to date of application and balance sheet and payroll information. Business applicants were also required to answer questions about civil or criminal court history or allegations, bankruptcies, potential violations of public health, safety or environmental laws, and whether the business is in good standing with the Iowa Department of Revenue.

     Those Jones County businesses that received IEDA Small Business Relief grants include:

     • Imbibe, LLC/The Jitney

     • Monk Enterprises LLC/Java Jones

     • The Stone City General Store Pub

     • Banowetz Lumber Company

     • Kimberly Kaye Kremer/Oasis Salon & Spa

     • Stone Hollow Dog Training, Inc.

     • EJG LLC/Diamond Pi Company

     • La Hacienda Mexican Restaurant LLC

     • Larry’s Place