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COVID-19 Update

posted on Friday, July 17, 2020 in Grow Cedar Valley

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Grow Cedar Valley COVID-19 Resources

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Recent Updates

Updated 9/16/2020

Grow Cedar Valley Special Values

State of Iowa

Business Guidance & Financial Assistance

Categories

Tips

  • Review your supply chain and analyze the potential impact and alternatives for supplies.

  • Review finances, work on contingencies of how to manage finances should a business begin to slow, talk with your banker about options that you can tap into should the need arise.

  • Talk with your business insurance provider as well.

  • If the business does slow, document your losses. 

Economic Impact Disaster Loans

IRS Tax Relief

Families First Coronavirus Response Act (FFCRA)

The FFCRA legislation took effect on April 1, 2020, and includes expansions of FMLA and Paid Sick Leave. Mandates apply to all employers with less than 500 employees (with some exemptions).

Coronavirus Aid, Relief, and Economic Security (CARES) Act

Iowa Economic Development Authority (IEDA)

Unemployment

Small Business Administration

  • SBA Updated PPP guidance
    • Updates reflect changes enacted by the Paycheck Protection Program Flexibility Act. Businesses now can use PPP funds over a 24-week period, and the covered period for the loan was extended until Dec. 31, 2020.
  • SBA Released EZ Forgiveness Application
    • Allowed to apply if you meet one of the following requirements:
      • You are self-employed and have no employees
      • Note: Businesses that don't meet one of these requirements will still need to complete the Full Forgiveness Application
      • You experienced reductions in business activity as a result of health directives related to COVID-19 and did not reduce the salaries or wages of your employees by more than 25%.
      • You Did not reduce the salaries or wages of your employees by more than 25%, and did not reduce the number or hours of your employees
  • SBA Reopened Application form for Economic Injury Disaster Loan
    • This program provides flexible working capital loans at a rate of 3.75% (2.75% for nonprofits) with a term of up to 30 years. Applicants also are eligible for an advance amount of up to $10,000 ($1,000 per employee). If you have already applied for EIDL and have not received a decision, do not reapply. The SBA is still working on processing EIDL applications it has already received.
  • COVID-19 Resource Center
  • Request counseling from any center. Phone, email and video assistance available

Black Hawk County

Other Possible Funding Sources for Business

Cedar Valley Resources 

Education

Other Resources

Information for Employers (Reopening, Returning to the Workplace, Health & Safety Guidelines)

Grow Cedar Valley

We realize that the uptick in cancellations may feel alarming. Remember that these are all strategies to stop the spread. In light of that, we at Grow Cedar Valley will be implementing the following procedures to help reduce the spread of the coronavirus:

  • All staff will telecommute when possible.
  • Non-essential events and meetings have been or will be canceled, postponed or adjusted to take place as a virtual meeting.
  • The Grow Cedar Valley Office will be open by appointment only and critical organizational operations.  Walk in’s and access from the general public will be restricted until further notice.

As our community continues to contend with this health crisis, we want to thank our critical service workers, businesses, non-profits, and governments that have and will be on the front lines. We recognize that this is a fluid situation with changes occurring hourly around our community and the country. Rest assured, we will continue to monitor the situation and provide any updates regarding our operations.

If there are any questions or concerns, please contact Grow Cedar Valley staff. We welcome your feedback, if there a resource that you are looking for or are in need of please let us know!