The Wapello County Small Business Emergency Impact Fund is a fund created and managed by the Legacy Foundation.
The fund was created to assist small businesses experiencing financial hardship as a result of Coronavirus (COVID-19). Through the years, our local small businesses have been there to serve us with a rich selection of products and services. They are part of what makes our community unique and special. This is one way that we are attempting to reflect that commitment and help them weather this storm.
This assistance is only intended to provide businesses with immediate, short-term cash flow assistance. The funds are not to be used to pay debts incurred prior to the COVID outbreak and emergency proclamation limitations. Qualifying applicants can be awarded up to $5,000 to assist in immediate relief to their business. Applications will be evaluated by a review team comprised of Foundation staff, banking, small business and economic development professionals and local government representatives. Grants will be based on demonstrated financial need and subject to all eligibility requirements. Only one grant award is eligible per ownership group.
Recognizing the urgency of these dollars, it is the expectation that awards will be announced within two weeks or less after the deadline. Awards will be made based on total resources available in the fund and application to the program does not guarantee funding.
Businesses must meet the following criteria to be considered:
Must have experienced a financial hardship directly as a result of COVID-19
Must have employed between 1 – 25 (FTE) employees as of March 1, 2020
Businesses with 1 employee cannot be based out of the home and must have an independent business address and location
Must be in good standing with state and local government jurisdictions
Impacted operation must be located in Wapello County.