Help for Small Businesses
Coronavirus COVID 19 Disaster
March 18, 2020
There is a lot of information out there. We know that you are getting information about staying healthy. And, with more time on your hands as you shelter in place and keep social distances, no doubt you are worrying about finances. Below are things you should know about and other things you can do right now. And, with the fluidity of this situation, please stay in touch, things can and will change quickly. If you know a small business that needs this information please pass it along.
- Federal Relief Package in Flux. Federal relief package for households, businesses, health organizations etc. still in flux as of today. Perhaps moving through the Senate to the White House for signature today. Stay tuned. In the meantime, see below for actions you can take now.
- IRS – Taxes – April 15th Deadline for filing taxes can be delayed for up to 90 days interest-free. However, if you have a refund coming, by all means get that filing in. The IRS says it will speed refunds. For more information go online to: www.irs.gov
- Your Local Banker. Contact your bank to ask for help if you are having trouble or expect trouble with paying off loans or need a loan. Have a plan for working with them. Let them know your plan. Do this sooner rather than later.
- Rent Payments. Contact your landlord as soon as you feel you will miss a rental payment. Let them know your situation and your plan. See what can be worked out.
- Stay in Touch with your Customers/Sell Gift Cards. We will help you reach out to people for sales of gift cards. Please let us know how your customers should reach you to purchase those cards/certificates.
- Bills Owed to Suppliers. Contact your suppliers as soon as you feel you will miss a payment. Let them know your situation and your plan. See what can be worked out.
- Unemployment Insurance. Employees impacted by COVID 19 whether directly or by layoff due to lack of work, are encouraged to file for unemployment benefits. Also, the Iowa Workforce Development (IWD) department is working to reduce the impact of unemployment claims on employers who have had to temporarily lay off staff due to closures or slowdowns, according to IWD Director Beth Townsend. Contact the IWD office at 1-866-239-0843 or online at www.IowaWorkforceDevelopment.gov. Keep refreshing, things may change.
- Health Approaches. More information on COVID 19 and staying healthy: www.CDC.gov
- Apply for a US Small Business Administration Loan. Not yet available for Iowans. But, we expect it will be soon and we want you to be ready to apply immediately when it is available.
Click on the Loan Information link below. Make sure to scroll down to the second page: https://disasterloan.sba.gov/ela/Documents/Three_Step_Process_SBA_Disaster_Loans.pdf
Once the declaration is made and Iowa is included, businesses can then apply through this link https://disasterloan.sba.gov/ela/Account/Login. We will get back to you as soon as Iowa is in. In the meantime, please gather your documents as outlined in the first link above. And, if you have any questions, please contact us.
· Iowa Economic Development Authority Survey. Businesses should take this survey https://uni.co1.qualtrics.com/jfe/form/SV_4SK7W5qa88IkhXT to help the state decide how they can best help.