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The CARES Act and Iowa Targeted Small Business Program

In March 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into federal law.

The CARES Act is a suite of measures adopted in response to the effects of the COVID-19 pandemic on the U.S. financial markets. The Act funds over $349M in forgivable loans to small businesses impacted by COVID-19.

The State of Iowa has launched the Targeted Small Business Program (TSB) through the Iowa Department of Economic Development to assist eligible individuals and growing businesses impacted by COVID-19.

To become eligible, TSBs must complete an online application, be located in the state of Iowa, operate for profit, have $4M or less income annually in past three (3) years, and be majority owned (51% or more), operated and managed by a female, individual with minority status, service disabled veteran or individual with a disability.

Contact Melvin to quickly and efficiently convert from a sole proprietorship, form your LLC, S-Corp, or other business entity, and to review the management structure of your company at (319) 337-7429 or law@melvinshaw.com

Learn more about these business funding resources:

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