Business Resources

The Ames Chamber of Commerce regularly updates this page with available financial assistance opportunities.

Mitigating COVID-19 for Iowa Businesses and Organizations

The Iowa Economic Development Authority, Iowa Department of Public Health and Iowa Workforce Development has prepared a "Mitigating COVID-19"  resource for Iowa businesses. It answers many questions regarding COVID-19 preparedness, enhanced public health measures, gathering restrictions, testing, business operations and more. Download the guide here.

Federal Relief Programs

• Paycheck Protection Program: On Monday, January 11, PPP will reopen for first time borrowers through CDFIs and small lenders, and on Wednesday, it will reopen for eligible borrowers seeking a second round of PPP through CDFIs and small lenders. Underserved businesses can utilize SBA’s Lender Match Tool to be connected with community financial institutions. To promote access to capital, initially only community financial institutions will be able to make First Draw PPP Loans on Monday, January 11, and Second Draw PPP Loans on Wednesday, January 13. The PPP will open to all participating lenders shortly thereafter. Updated PPP guidance outlining Program changes to enhance its effectiveness and accessibility was released on January 6 in accordance with the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act.
  • PPP Guidance from SBA Administrator Carranza on Accessing Capital for Minority, Underserved, Veteran, and Women-owned Business Concerns
  • Interim Final Rule on Paycheck Protection Program as Amended by Economic Aid Act
  • Interim Final Rule on Second Draw PPP Loans. 
• Federal 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.
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• Small Business Administration Programs: In addition to traditional SBA funding programs, the CARES Act established several new temporary programs to address the COVID-19 outbreak, including an Economic Injury Disaster Loan (EIDL) advance of up to $10,000, SBA Express Bridge Loans and SBA Debt Relief. Learn more about the SBA funding programs available here.

State Relief Programs

• Iowa Restaurant & Bar Relief Grant Program: The program may assist eligible businesses that experienced a decrease in gross sales of at least 15% during the second and third quarters of 2020, (April 1- Sept. 30), compared to the same time the previous year, as evidenced by the Iowa Sales/Retailer’s Use Tax and Surcharge Return. Grant award amounts will be determined using a tiered system based on the percent of gross sales loss. Award tiers will be used with a maximum award amount of $25,000.
  • Closed
• Iowa Movie Theater Fund: an extension of the Iowa Small Business Relief Grant Program and will provide short-term relief to eligible movie theatres for the purpose of continuing or resuming business operations in the context of a public health emergency.
  • Closed
• Iowa County Fairs Relief Fund: an extension of the Iowa Small Business Relief Grant Program and will provide short-term relief to eligible county and district fairs for the purpose of continuing or resuming business operations in the context of the current COVID-19 public health emergency.
  • Closed
• Iowa Residential Utility Disruption Prevention Program: Utility bill assistance is now available. Electric and natural gas utility bill assistance for actual utility debt incurred for electric or natural gas service provided between March 17, 2020, and June 30, 2020, not to exceed $7,500.
  • Closed June 2020
• Iowa Small Business Utility Disruption Program: The program will provide short-term relief to eligible small businesses and nonprofits that faced significant hardship in the payment of utility bills for service provided during the months of disruption to their business due to the COVID-19 pandemic. The program offers grants up to $7,500 to be applied to utility bill debt for eligible small businesses.
  • Closed August 2020
• COVID-19 Business Disruption Relief Program: Governor Reynolds allocated federal CARES Act funds to assist bars, taverns and other establishments impacted by the Aug. 27, 2020, COVID-19 disaster proclamation that closed bars in six counties.
  • Closed September 2020
• Iowa Agriculture Relief Programs: Governor Reynolds allocated federal CARES Act Funds to assist Iowa farmers, producers and biofuel producers impacted by COVID-19.
  • Closed
• Iowa Nonprofit Recovery Fund: The program will provide short-term relief to nonprofit organizations that have seen reduced revenue and/or increased costs as a result of the COVID-19 pandemic. Eligible nonprofits may be awarded a grant of up to $25,000, based on income, expenses, outstanding obligations and other state and federal assistance received. The program has $10 million available, which was allocated through federal CARES Act funds.
  • Closed August 2020
• IEDA Small Business Relief Grants: Governor Reynolds launched the Iowa Small Business Relief Program to provide financial assistance to small businesses economically impacted by the COVID-19 pandemic.
  • Closed June 2020
• Iowa Business Tax Deferral: Information about the Iowa Small Business Tax Deferral program can be found at tax.iowa.gov/COVID-19. The page contains details about eligibility, important dates, frequently asked questions and the application for sales tax deferral and/or withholding tax deferral.
• Targeted Small Business Sole Operator Fund: The program offers eligible small businesses grants from $1,000-$10,000 to businesses that are single owners with no employees that are also TSB certified.
  • Closed May 2020
• Unemployment Insurance Tax Rate Table Remains the Same for 2021: Iowa Workforce Development announced that the unemployment insurance tax rates for Iowa employers will remain unchanged for 2021.  In June 2020, Gov. Reynolds directed $490 million of the State’s $1.25 billion in CARES Act Coronavirus relief funds to be deposited into the Unemployment Insurance Trust Fund.  This deposit ensured that Iowa would  remain in Tax Table 7 for 2021.

Other Relief Programs

• Small Business Relief Initiative - GoFundMe: GoFundMe has partnered with Yelp and Intuit QuickBooks to create a Small Business Relief Fund to help small businesses negatively affected by the COVID-19 pandemic. Each of these three companies has contributed $500,000 to the Fund, and it's receiving additional donations from the public. The fund will provide $500 grants to any small business that raises $500 on GoFundMe.
• From The Red Backpack Fund and GrantSpace: Hello Alice and SheaMoisture open Variety of Grant Programs for specific information. 
• CDBG Grant Funds
  • Funds to Support Infectious Disease Response [PDF]
  • CDBG COVID-19 Awards List
• Delta Dental Relief Programs
  • Reopening Support Payment Program for Dentists
• Iowa Revolving Loan Funds
  • $13.1 Million From Federal CARES Act Available for Iowa Small Businesses
• Iowa Workforce Development
  • Assistance for employees and employers affected by COVID-19 related layoffs
• Wells Fargo Open for Business Fund
  • Funds for Minority-Owned Businesses