Rep. Axne Welcomes $2,629,007 in New CARES Act Grants to Support Iowa Small Businesses Impacted by COVID-19

July 16, 2020
Press Release
Funds from congressional coronavirus aid package will assist businesses using Revolving Loan Funds based in Atlantic, Creston, and Polk City

Today, Rep. Cindy Axne (IA-03) welcomed three new CARES Act Recovery Assistance grants to provide $2,629,007 in financial assistance for Iowa small businesses and entrepreneurs that have been impacted by the novel coronavirus (COVID-19) pandemic.

“As this pandemic continues, Iowa’s small businesses are continuing to face dire economic circumstances – and I’m still hearing from business owners that need additional assistance to keep them afloat,” said Rep. Axne. “I’m pleased to see more than $2.6 million in funding approved by Congress coming back to help small businesses in central and southwest Iowa preserve jobs, keep their bills paid, and continue serving our communities.”

The grants are awarded by the U.S. Department of Commerce’s Economic Development Administration (EDA), and will provide funding for Iowa’s Third Congressional District through  Revolving Loan Funds (RLFs) at:

  • Southwest Iowa Planning Council in Atlantic, Iowa, which will receive a $550,000 grant to support impacted businesses in Cass, Fremont, Harrison, Montgomery, Shelby, and Page counties.
  • Southern Iowa Development Group Inc. in Creston, Iowa, which will receive a $1,529,007 grant to support impacted businesses in Adair, Adams, Madison, Ringgold, Taylor and Union counties.
  • Mid-Iowa Development Fund, Inc. in Polk City, Iowa, which will receive a $550,000 grant to support impacted businesses in Dallas, Polk, and Warren counties.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed unanimously in March to provide economic relief to address the COVID-19 pandemic.

Rep. Axne has added these three EDA grants to her Iowa COVID-19 Response Tracker, which she launched in May to publicly record details of federal funding spent combating the COVID-19 pandemic in Iowa.

With the addition of these grants, the Tracker now details over $10.8 billion in federal funds spent in Iowa, including at least $1.2 billion spent directly within Iowa’s Third Congressional District.

Issues: 
Economy and Jobs