Resource Center


COVID-19: IOWA BUSINESS RECOVERY ASSISTANCE

Due to the economic impact of COVID-19 closures and postponements, we are gathering resources and information that may be of use to our partners across the state.

Business Clarification:

Retail Store Closures
A retail store that the Office of the Governor has closed under the March 26 proclamation must have their establishment closed to the public.  However, these stores can still sell to the public online or by telephone with delivery or curbside pickup of their goods without opening their store.


IOWA SMALL BUSINESS RELIEF FUND AND TAX DEFERRAL - CLOSED

Notifications were made the week of April 7.  All applicants that were awarded a grant have received notification.  At this time all available funds (4 rounds) 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. 

Click here to view more information and a current list of grantees.


IOWA BUSINESS TAX DEFERAL

The application for deferral of the eligible taxes and waiver of penalty and interest remains open through April 30. To be eligible, businesses must be experiencing business disruption due to the COVID-19 pandemic. Read the FAQs from the Iowa Department of Revenue and apply for tax deferral here. Due to the anticipated volume of applications, staff will work diligently to review and respond to requests. A complete application is not a guarantee of tax deferral. Click here for more information.


SBA ISSUES DISASTER DECLARATION

The SBA issued a disaster declaration for the state of Iowa as of March 21, 2020. The declaration allows pandemic-impacted small businesses to apply for low-interest support loans. The declaration comes after Iowa Governor Kim Reynolds submitted a federal funding request via the SBA’s Economic Injury Disaster Loan program.

Download the SBA Disaster Assistance in Response fact sheet for additional information or visit their website.
Download the SBA Disaster Assistance in Response fact sheet for additional information or visit their website.

SBA Economic Injury Disaster Loans (EIDL Program) 

SBA is unable to accept new applications at this time for the Economic Injury Disaster Loan (EIDL)-COVID-19 related assistance program (including EIDL Advances) based on available appropriations funding.  Applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis.

Paycheck Protection Program Loans, aka "PPP" (This is completely separate from the EIDL program above.) 

The SBA is currently unable to accept new applications for the Paycheck Protection Program based on available appropriations funding.


SBA DEBT RELIEF

As part of SBA's debt relief efforts,

  • The SBA will automatically pay the principal, interest, and fees of current 7(a), 504, and microloans for a period of six months.
  • The SBA will also automatically pay the principal, interest, and fees of new 7(a), 504, and microloans issued prior to September 27, 2020.
  • Click here for more information.

SBA DISASTER LOAN ASSISTANCE 

The U.S. Small Business Administration (SBA) updated criteria on states for requesting disaster assistance loans for small businesses impacted by Coronavirus (COVID-19).  The relaxed criteria will have two immediate impacts:

  • Faster, Easier Qualification Process for States Seeking SBA Disaster Assistance. Historically, the SBA has required that any state or territory impacted by disaster provide documentation certifying that at least five small businesses have suffered substantial economic injury as a result of a disaster, with at least one business located in each declared county/parish. Under the just-released, revised criteria, states or territories are only required to certify that at least five small businesses within the state/territory have suffered substantial economic injury, regardless of where those businesses are located.
  • Expanded, Statewide Access to SBA Disaster Assistance Loans for Small Businesses. SBA disaster assistance loans are typically only available to small businesses within counties identified as disaster areas by a Governor. Under the revised criteria issued today, disaster assistance loans will be available statewide following an economic injury declaration. This will apply to current and future disaster assistance declarations related to Coronavirus.

Learn more here: https://www.sba.gov/funding-programs/disaster-assistance 


Coronavirus Aid, Relief, and Economic Security Act ("CARES Act") 

The $2 trillion dollar Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”), provides economic relief to businesses, states and municipalities and individuals affected by COVID-19. While the scope of the CARES Act is wide-ranging, this limited summary provides a high-level overview of unemployment benefits and the relief available for qualifying business concerns.


FINANCIAL ASSISTANCE

Iowa Small Business Relief Fund | Grants for Small Businesses

Iowa Credit Union Foundation | Grants for Credit Union-Member Small Businesses with 1-5 Employees

Facebook Small Business Grants | Grants for Eligible Businesses 

Delta Dental Relief Programs | Advance Claims Payment Program for Dentists | Nonprofit Emergency Operating Relief Grant

CDBG Grant Funds | Funds to Support Infectious Disease Response [PDF] | CDBG COVID-19 Awards List

Iowa Workforce Development | Assistance for employees and employers affected by COVID-19 related layoffs

COVID-19 Emergency Loans  | Small Business Guide & Checklist for Nonprofits and Small Businesses [PDF]

American Farmland Trust Farmer Relief Fund  | Apply Here Now



FINANCIAL GUIDANCE


Internal Revenue Service - Tax Payment Deadline Extended to July 15, 2020


BUSINESS GUIDANCE


Association of Chamber of Commerce Executives - SBA Disaster Loan Information

CIRAS at Iowa State University - How to deal with COVID-19

IASourceLink - Iowa Business Information on COVID-19

Iowa Small Business Development Center  - How to Prepare Your Small Business for Coronavirus

Main Street America Resource Center - Guidance for Your Community

RestoreYourEconomy.com - COVID-19 Resources for Economic Development Planning & Recovery

Tourism Resources - Information for Iowa Tourism Partners

U.S. Chamber of Commerce - COVID-19 Preparedness Checklist

U.S. Department of Homeland Security  - Guidance on Essential Critical Infrastructure Workers [PDF]

U.S. Treasury TTB  - Guidance for the Manufacture of Hand Sanitizer 


IOWA IMPACT


Office of the Governor of Iowa - Latest News and Information

Iowa Alcoholic Beverages Division - Updated Rules and Regulations for Bars & Restaurants

Iowa Department of Inspections & Appeals - FAQ for Food & Lodging Businesses

Iowa Department of Revenue - COVID-19 Information

Iowa Housing Recovery - COVID-19 Information

Iowa Legal Aid - Resources for Civil Legal Issues

Iowa Utilities Board - Order Extending Winter Moratorium for Electric and Natural Gas Customers

Volunteer Iowa - COVID-19 Volunteer Opportunities 


HEALTH RECOMMENDATIONS

Iowa Department of Public Health - Novel Coronavirus (COVID-19) Information


Since Inception In 1997 Main Street Osceola Has Had:

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44

New Businesses | Relocations | Expansions
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$7,731,785

Dollars Invested in Projects


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101

Building Projects

2020 Membership Form

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WHO CHOOSES CHAMBER MAIN STREET EVENTS?

Our board reviews each event and seeks ideas and input from the public. The aim is to provide meaningful and fun events for all ages and interests.

HOW DO I GET INVOLVED WITH CHAMBER MAIN STREET?

Our board meetings are the 4th Thursday of each month. You don't need to sign up- just come in and listen or ask questions. Call 342-4200 or email [email protected]

WHERE DO I FIND INFORMATION ABOUT STARTING A BUSINESS?

The Small Business Resource Center at Southwestern Community College is a good place to begin. Once a business is up and running, Chamber Main Street has many resources to help.

WHAT ARE THE BENEFITS OF BEING A MAIN STREET MEMBER?

Main Street Iowa has many free services such as facade design and technical information, sign, awning and display ideas. OCMS can help business owners with grant applications for renovations.  Reach out-

WHAT KIND OF VOLUNTEER OPPORTUNITIES ARE AVAILABLE?

All of the OCMS events and services require volunteers, and the more help we have, the fewer hours for everyone. Contact us for volunteer availability.

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