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Small Business Resources

Although these are unprecedented times for small businesses, there are preemptive steps that can help to mitigate the economic impact of the Coronavirus as you continue to do business. Consider these resources for preparation and prevention strategies:

Financial Resources  |  Employer Support  |  Employee Support
Business Continuity  |  Upcoming Webinars  |  Small Business Resources Hub

COVID Recovery Iowa

Free Counseling and Support

You're not alone. Find support for coping with the effects of the pandemic. COVID Recovery Iowa provides free virtual counseling, virtual activities, referrals and help finding resources to any Iowan seeking assistance or a listening ear. Counselors are available 24/7. For more information, visit COVID Recovery Iowa.

Small Business Development Center (SBDC) Counseling

SBDC offers one-on-one counseling that can be done virtually, including help with loan application processes or other business issues that this crisis is causing, such as distribution, sales, buying, marketing, HR issues and more. Find a counselor on the SBDC website.

Financial Resources for Small Businesses

SBA Disaster Assistance Available to Iowa Private Nonprofit Organizations

Low-interest federal disaster loans are now available to certain private nonprofit organizations in Iowa following President Trump’s federal disaster declaration for Public Assistance as a result of severe storms that occurred Aug. 10, 2020, announced Administrator Jovita Carranza of the U.S. Small Business Administration. Private nonprofits that provide essential services of a governmental nature are eligible for assistance. These low-interest federal disaster loans are available in Benton, Boone, Cedar, Clinton, Dallas, Jasper, Johnson, Jones, Linn, Marshall, Muscatine, Polk, Poweshiek, Scott, Story and Tama counties. Applicants may apply online, receive additional disaster assistance information and download applications at disasterloanassistance.sba.gov/. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance.

U.S. Small Business Administration (SBA) now has two programs available to provide small businesses with emergency working capital needs:

Paycheck Protection Program (PPP)  |  Apply By: Aug. 8, 2020

This program is an SBA loan that will be fully forgiven if the funds are used for payroll costs, interest on mortgages, rent and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll). Loan payments will also be deferred for six months.

You can download a copy of the PPP borrower application form to see the information that will be requested from you when you apply with a lender.

See a list of local lenders eligible to issue a loan under the Paycheck Protection Program.

NEW: Paycheck Protection Program (PPP) Loan Forgiveness Application

The U.S. Small Business Administration, in consultation with the Department of the Treasury, posted a revised, borrower-friendly PPP loan forgiveness application and a new EZ version of the forgiveness application that applies to borrows who:

  • Are self-employed and have no employees; OR
  • Did not reduce the salaries or wages of their employees by more than 25% and did not reduce the number of hours of their employees; OR
  • Experienced reduction in business activity as a result of health directives related to COVID-19 and did not reduce the salaries or wages of their employees by more than 25%.

The EZ application requires fewer calculations and less documentation for eligible borrowers. Details regarding the applicability of these provisions are available in the instructions to the new EZ application form.

Both applications give borrowers the option of using the original eight-week covered period (if their loan was made before June 5, 2020) or an extended 24-week covered period.

Paycheck Protection Program (PPP) Forgiveness Application Assistance Now Available  |  Apply by: Dec. 15, 2020

Did your business receive support through the Paycheck Protection Program? Now that forgiveness applications are available, the Greater Des Moines Partnership is available to offer assistance in completing the forgiveness application before submitting it to your bank.

This program is part of ongoing work with the Polk County Disaster Recovery Partnership.

The Partnership has activated a pool of CPAs who have generously offered to donate their time to help small businesses review use of funds documentation and self-certify before submitting the formal application.

Review support is offered online through video conferencing and is done in a confidential manner. Prior to the support appointment, businesses submitting the forgiveness application should first contact their bank to confirm which form to use, and assemble all relevant documents and statements.

To request an online appointment, please contact Meg Schneider, mschneider@dsmpartnership.com. This program is open until Tuesday, Dec. 15, 2020.

Additional Guidance on Loan Forgiveness

Did your business participate in the Paycheck Protection Program? If yes, see the PPP Loan Forgiveness Application for important instructions on what you need to know to apply for forgiveness of PPP loans. For more information about the Paycheck Protection Program, visit the SBA Portal.

See the most recent PPP Loan Forgiveness information here, including an FAQ about the program (updated 10/13/2020).

Find information on PPP Loan Forgiveness Best Practices from LWBJ during the recent DSM Forward webinar with PPP experts.

See the U.S. Chamber PPP Guide here.

Low Interest, Longterm Economic Injury Disaster Loans

This loan is for up to $2 million. The first payment is deferred for 12 months. The application has been simplified and can be completed 100% online through the improved SBA web portal.

Economic Injury Disaster Loan Advance

This loan is for up to $10,000. The form to apply is part of the Economic Injury Disaster Loan application. If approved, these funds can be used for payroll and other operating expenses and will be forgiven.

Note: Unfortunately, businesses who had an electronic application in process with the previous Economic Injury Disaster Loan Portal will not be able to log in and complete their previous application.

If you have already submitted an application (electronic, e-mail or paper) prior to the launch of the Economic Injury Disaster Loan Advance program, you will need to submit a new application for the Advance. However, you will not lose your place in the approval queue.

Employer Resources

Employee Support

For more information for job seekers and employers on workforce opportunities, visit the Employment Resources page.

Business Continuity

View the recent topics listing below for more information and resources on business planning and preparedness.