North Iowa Corridor EDC - Small Business Recovery & Continuity Fund
To help small businesses through the impact of COVID-19, the Cities of Clear Lake and Mason City, Cerro Gordo County, and the North Iowa Corridor EDC have launched the Small Business Recovery & Continuity Fund for companies in Cerro Gordo County. Businesses who have experienced business disruption and revenue losses will be eligible for grants up to $5,000 to help ensure business continuity. This assistance will provide businesses with immediate, short-term cash flow that can be deployed for a variety of uses; including working capital, inventory, lease/mortgage payments, etc.
The goal of the program is to assist as many eligible businesses in maintaining operations or reopening after the pandemic to limit the negative economic impact as much as possible. Applicants will need to provide standard business ownership information that the review committee will use to identify how to best distribute funds to provide immediate assistance to businesses experiencing the most impact and pressing needs.
Who is Eligible?
- Businesses with a physical location and employees within Cerro Gordo County (priority to those in operation at least 1 year)
- Businesses negatively impacted by the COVID-19 virus
- Priority given to locally owned independent businesses under 25 employees
- Priority given to businesses/sectors ordered closed by state or federal government
Responsibilities of Grantees:
- Business Counseling with NIACC Pappajohn Center for financial and business continuity planning (initial consultation meeting, ongoing webinars/trainings, etc.)
- Utilize funds to make reasonable best efforts to maintain employment and operations
Please contact the North Iowa Corridor at firstname.lastname@example.org with questions. Please provide your specific questions and contact information. The Corridor will respond to questions as quickly as possible.