New options for financial relief for small businesses in Iowa, deadline March 31

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DES MOINES, Iowa (KCRG) - The state of Iowa will be providing a few different options for small businesses to get some financial relief due to hardships caused by the spread of the novel coronavirus, according to officials.

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Gov. Kim Reynolds announced the initiatives through Iowa Economic Development at her Monday, March 24, 2020, press conference. Further details on the plans were released by the state on Tuesday.

Businesses that employ between two to 25 people with a physical location in Iowa could be eligible for a small business relief grant, ranging from $5,000 to $25,000 if their business has been hurt by the spread of COVID-19.

Businesses of any size that are experiencing disruptions due to COVID-19 may apply for business tax deferral as well.

Both programs require an application to be filled out and that businesses meet certain requirements laid out by the state. The application deadline is Tuesday, March 31, at Noon.

More information, including the applications for both programs, is available at the Iowa Economic Development website.