COVID-19 Business Assistance
- Des Moines City Council voted on May 4, 2020 to direct $750,000 of federal COVID-19 relief to a local grant fund to support small businesses in Des Moines. The DSM Small Business Recovery Grant is a partnership between the City of Des Moines, the Greater Des Moines Partnership, Polk County and additional community partners. Applications are due by midnight on May 20, 2020. Learn More
- The U.S. Small Business Administration (SBA) has issued a disaster declaration for the state of Iowa as of January 31, 2020 and continuing. The declaration allows pandemic-impacted small businesses to apply for assistance. Applications can be made via the SBA’s website: https://disasterloan.sba.gov/ela/. Applicants can monitor the status of their applications online after submission. For questions, please contact the SBA disaster assistance customer service center at 1-800-659-2955 (TTY: 1-800-877-8339) or email email@example.com.
- The CARES Act establishes a new $349 billion Paycheck Protection Program. The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. The Program will provide much-needed relief to millions of small businesses so they can sustain their businesses and keep their workers employed. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.
The Iowa Small Business Relief Fund aims to target small businesses with 1-7 employees, granting them dollars ranging from $500-$3500. These grants will cover business related expenses including, but not limited to, rent, utilities, insurance, delivery services, and technology. Applications can be completed at https://www.empowermoney.org/smallbusinessrelief. This Small Business Relief Fund is made possible by an alliance including: The Director’s Council, Immigrant Entrepreneurs Summit, League of United Latin American Citizens - Iowa (LULAC Iowa), One Voice, Iowa State Extension, DREAM Iowa, and Iowa Community Capital.
- The State of Iowa has created a fund to support Targeted Small Businesses (TSB) with zero employees that have been economically impacted by the COVID-19 pandemic.
- For a list of other currently available resources for small business owners in Des Moines, visit the Greater Des Moines Partnership's website and the Iowa Economic Development Authority.
- The Greater Des Moines Partnership has also launched the DSM Employment Ready initiative to assist businesses in need of immediate temporary workers and employees who have been affected by circumstances related to the COVID-19 pandemic.