Business Fund Application Information

The Jumpstart Iowa Recovery Initiative is a $40-million housing and economic development program developed to address the immediate financial needs of Iowans affected by the 2008 storms, flooding and tornadoes. The City of Cedar Rapids’ allocation for business recovery from this fund is $12 million.

Cedar Rapids businesses are eligible for assistance through the Jumpstart Office if they have qualified and been approved for disaster loan funds from the U.S. Small Business Administration (SBA), a state or federally charted financial institution or other recognized entities that underwrite loans.

An eligible business will be able to receive funding in an amount equal to 25% of the dollar amount of their disaster loan, up to a maximum of $50,000. The award will be in the form of a loan at 0% interest and will be forgiven if the business reopens within twelve (12) months of their award date, and if applicable, upon receipt of documentation that the business has purchased and installed the energy efficient equipment.

An eligible business may also receive funds in an amount of up to $5,000, less any utility rebates, for the purchase and installation of energy efficiency equipment that meets the Office of Independent Energy’s standards.

Commercial landlords (with business tenants) will be eligible to receive assistance through the provisions of the “Jumpstart” Small Business Assistance Program.  Residential landlords are NOT eligible for Jumpstart Business, and should not complete the business application.  Residential landlords should complete the Residential Landlord Registration form.

These funds are available regardless of your status with the Small Business & Jobs Recovery Fund. 

You must complete a Jumpstart application (on-line, start the process by clicking at the bottom of this page) even if you have completed an application for Small Business & Jobs Recovery Fund. 

Once your business has been approved for Jumpstart Funds, you must provide documentation of the following at the Jumpstart office when you receive funds. No funds will be disbursed without this documentation.

1. Approved loan documents showing the amount and terms approved.
2. Receipts for energy efficiency if the business is interested in reimbursement up to $5000 for that improvement.

This application will take approxiamtely 5 to 15 minutes to complete. You will need to provide information regarding total losses, a breakdown of the losses your business incurred and a breakdown of the costs needed to rebuild.

If you have questions regarding the application process or the Jumpstart funds, please call the Jumpstart Office at (319) 286-5850.