The Iowa Economic Development Authority (IEDA) has announced the initial recipients of their Small Business Relief program, and a pair of restaurants in Perry were among the first 500 businesses selected.
Lou’s Diner and the Mandarin Cafe received $13,236 and $20,000 through the program, respectively. More than $10 million in grants were awarded as immediate, short-term cash flow assistance, and more are expected to be announced in the coming weeks. The grants are part of the State of Iowa’s relief response to the COVID-19 pandemic, specifically with how required closures have affected the small business landscape. According to the IEDA, several thousand applications were submitted to the program, and the first recipients were selected based on critical needs. The awards range from $5,000-$25,000 for businesses having 2-25 employees.
To learn more about the program, click the link below.