COVID-19 Resources

Covid-19 Resource Center

The Economic Alliance is committed to providing guidance and resources as businesses navigate challenges faced due to the pandemic.

We're here to help.

Looking for information on financial assistance programs? Reach out to Local Business Project Specialist Mike Lukan and Research and Analytics Specialist Laura Thomas to find out where to start. Other questions can be answered at 319-398-5317 or economicalliance@cedarrapids.org.


Local business project specialist, Mike Lukan Research and analytics specialist, Laura Thomas
Mike Lukan
Local Business Project Specialist
(319) 730-1403
Laura Thomas
Research and Analytics Specialist
(319) 730-1406

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Upcoming Resources

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COVID-19 Related News


Reopening Your Business


Financial Relief

Local

  • COVID-19 Disaster Response Fund - Local fund led by the Greater Cedar Rapids Community Foundation. Rapid response grants to partners where resources are most needed. Grant applications for nonprofits closed April 15. View grant recipients HERE.

State

  • Iowa Nonprofit Recovery Fund - Application now closed.
  • Small Business Utility Disruption Prevention Assistance Fund - Info & Application Requirements
  • Targeted Small Business Sole Operator Fund - Created to support Targeted Small Businesses with zero employees. Applications will be processed in both order of receipt of application and submission of all required documents and Targeted Small Business certification approval. Businesses applying for this program must be a certified Targeted Small Business to qualify for funding. DETAILS + APPLY NOW
  • Iowa Small Business Relief Program - Rounds 1 - 34 of funding have been announced. Review the lists here.
    • Announced Sept. 2, an extension of the Iowa Small Business Relief Grant Program and allocated federal CARES Act funds to assist bars, taverns and other establishments impacted by the Aug. 27, 2020 COVID-19 disaster proclamation that closed bars in six counties. These businesses may be eligible for onetime $10,000 grant to help with cash flow during this difficult time. The Iowa Economic Development Authority is managing the grant and more information can be found at IEDA website: https://www.iowaeconomicdevelopment.com/Business/b...
  • Iowa Economic Development Authority Business Recovery Resources - State, federal and other financial assistance options, business and financial guidance and resources.
  • ICR Next Economic Development Webinar (recorded April 29) with Debi Durham, Director of the Iowa Economic Development Authority (IEDA) and our moderator and ICR Iowa Board Chair, Lydia Brown, discussing state program delivery and anticipating Iowa’s road to recovery.

Federal

  • Main Street Lending Program - This is a lending program separate from the PPP that is designed to assist small and medium-sized businesses with up to 15,000 employees through government-backed loans.
  • Employee Retention Tax Credit Program - The CARES Act created a new employee retention tax credit for employers who are closed, partially closed, or experiencing significant revenue losses as a result of COVID-19. Employers who receive a PPP loan are not eligible for this tax credit.
  • Economic Injury Disaster Loans (EIDL) - Low interest loans for small businesses and nonprofit entities suffering economic harm due to COVID-19 are eligible for an SBA Economic Injury Disaster Loan. DETAILS
  • Businesses should work with their current lenders to determine exactly what offering is the best fit for them.

    All businesses who have received or applied for assistance through the state and/or federal financial relief programs should properly document their finances related to the assistance in the case their business is audited over the following year.

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