02/04/21
The City of Iowa City announced grants to over two dozen businesses who have suffered losses due to the coronavirus pandemic.
According to a release from the city, applications for the funds were considered using three criteria: the financial impact of the pandemic on the business; the extent of other assistance already received from federal, state, and local entities; and whether the business had majority ownership and control by a person of color or by a woman.
The assistance was limited to businesses that had less than a million dollars in gross annual revenue and 25 or fewer employees. 27 small businesses received a part of the over $360,000 in funds, which came from Federal Community Development Block Grant dollars.