CEDAR RAPIDS, Iowa (KWWL)- Small Enterprise Affiliation Administrator Jovita Carranza was in Cedar Rapids Tuesday to speak concerning the street to restoration for small companies.
Carranza and Iowa Governor Kim Reynolds spent the morning touring and speaking to enterprise homeowners within the Czech Village space.
Carranza stated she wished to come back and see the injury for herself and let enterprise homeowners in Linn County know concerning the assets which can be obtainable to them.
“We are attempting to interact the neighborhood and share the help,” Carranza stated.
The SBA presents three kinds of catastrophe loans.
- Enterprise Bodily Catastrophe loans permit companies and non-profits to restore gear or buildings broken by the catastrophe. The utmost for this kind of loan is $2 million.
- Financial Damage Catastrophe Loans or EIDL can be utilized for monetary bills reminiscent of paying staff or lease. It is also maxed out at $2 million.
- Dwelling Catastrophe Loans are given to householders or renters to restore broken properties. It’s maxed out at $200,000 for buildings and $40,000 for private property.
Enterprise homeowners can apply for loans on-line. Whereas the assets can be found, not everyone seems to be eligible.
To qualify for a enterprise or house catastrophe loan, you need to in an space that has certified for particular person help.
Of the 27 Iowa counties included in Governor Reynolds’ request for particular person help, solely Linn County has been authorised thus far.
Proper now, solely Linn County residents can get enterprise, house, and financial harm catastrophe loans.
The counties bordering Linn County are eligible for help, however solely the financial harm catastrophe loans.
Governor Kim Reynolds stated assessments to find out in different counties qualify are going down this week.
“The assessments are taking place. The group is on the bottom,” she stated. “They’re working diligently to gather the factors.”
Reynolds stated particular person help was authorised so shortly in Linn County as a result of officers had already collected numerous the required information for the federal catastrophe declaration.
“We’ve had an unimaginable variety of counties which have been impacted,” she stated. “However the assets are right here, and they’re on the bottom.”
Carannza stated the method can take a while.
“Lots of our assets are digital,” she stated. “You both conduct a few of this work aerial, on-line, otherwise you do telephone calls or emails.”
Between COVID-19, civil unrest, and the derecho, Carannza stated companies, have taken one hit after one other this 12 months. However by all of it, she stated small companies, significantly in Iowa, demonstrated resiliency and adaptation.
“I’m very inspired that Iowans aren’t going to overlook a beat,” she stated. “Positive it’s devastation, positive it’s overwhelming, however even with that, they’ve retained their staff and are open for enterprise.”
Whereas in Cedar Rapids, Governor Reynolds supplied a preview of what she is going to say through the Republican Nationwide Conference on Tuesday night time.
She stated the latest derecho and ensuing restoration could be a focus.
“I usually consult with Iowa as one massive small city, and it’s neighbor serving to neighbor,” she stated. “Within the face of catastrophe and adversity, we present up. However we even have one other particular person who has helped out in all of that, and that’s our president.”
Reynolds praised President Trump’s response to the derecho in addition to the extreme flooding in Iowa in 2019. She additionally spoke extremely of the partnership the state has with the Trump administration.
Reynolds didn’t get right into a timeline for when officers will full the assessments to determine if extra counties qualify for particular person help.
The deadline to use for SBA loans for bodily injury is October 19. The deadline for financial harm is May 20, 2021.