NE Iowa News

Winneshiek County Development and Tourism (WCDT) is expanding its resources to help endangered business owners, self-proprietors and nonprofits apply for federal, state and local funding by creating the Small Business Helpline.

Winneshiek County Development Executive Director Stephanie Fromm explains the need for this resource, considering the recent programs like the CARES Act, on their website. 

“The CARES Act contains many provisions, and while it has been signed into law, benefits may not yet be available as they are waiting for further guidance from the U.S. Department of Labor,” Fromm said.

WCDT has a number of trained guides that can give valuable information to lead businesses, self-proprietors, and those eligible, as they make their way through the complex process that leads to federal aid.

The aid available through the recent CARES Act has created a variety of programs to assist those economically affected by COVID-19.

Those programs include the following:

Payment Protection Plan (PPP) which guarantees cash flow through loans to employers that are maintaining payroll through out the COVID-19 crisis.

Small Business Debt Relief Program provides immediate assistance to small businesses that have non-disaster Small Business Administration (SBA) loans.

Economic Injury Disaster Loans & Emergency Economic Injury Grants (EIDL) that can provide up to $10,000 in relief to affected private nonprofits and small businesses within three days of application.

Families First Coronavirus Response Act (FFCRA) requires employers to give extended family and medical leave to employees affected with specific COVID-19 related reasons.

Winneshiek County Development is not alone in this endeavor to share information and they are partnered with Northeast Iowa Community College, Greater Dubuque Development Corporation (GDDC), Small Business Development Center (SBDC) and the East Central Iowa Intergovernmental Association.

“Our local SBDC counselors are here to help business owners, contracted workers, CEOs and employees pull through and offer guidance wherever needed. This continues to be an innovative partnership and initiative to support businesses in Northeast Iowa,” Fromm told the Driftless Journal. 

Since its creation, the Small Business Helpline has assisted over 200 businesses with the process of attaining financial relief.

“Helping our local businesses research and complete financial assistance programs is important in helping retain our businesses through this crisis. Economic development isn’t just about bringing in new businesses, it’s about making sure our local economy has what it needs to succeed,” Fromm said.