Small business recovery fund proposed for Cerro Gordo County

first_imgMASON CITY — The City Councils of Mason City and Clear Lake as well as the Cerro Gordo County Board of Supervisors this week will consider initial approval of a “Small Business Recovery & Continuity Fund” to provide financial relief for small businesses through the impact of the COVID-19 pandemic. North Iowa Corridor Economic Development Corporation CEO Chad Schreck says businesses who have experienced significant disruption and revenue losses will be eligible for grants of up to $5000 to help ensure business continuity, with the goal of the program being to assist companies within the county in maintaining operations through the pandemic, or re-opening once it’s over. Schreck says the assistance will provide businesses with immediate, short-term cash flow that can be deployed for a variety of uses. Priority will be given to locally-owned, independent businesses under 25 employees.The goal is to raise over $500,000 collectively pending the approval of each governmental body. Private businesses or individuals that would like to support local businesses through that effort will also be able to donate to the fund.  Pre-applications to verify eligibility will open on April 8th, with the first review of full applications starting April 17th and continuing weekly until the funds are expended. The program details and application can be found at northiowacorridor.com/recoveryfund.last_img

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