New help for disaster-impacted small businesses

Small business owners impacted by the 2008 disasters may qualify for assistance with damaged equipment and flood insurance premiums.

** The Equipment Reimbursement Assistance Program provides financial assistance to business owners that owned their own building or leased rental space during the 2008 disasters. The business must have sustained physical damage to machinery, equipment, furniture, inventory or supplies. Awards are limited to 75 percent of replacement cost, not to exceed $75,000 per business. Any business awarded funds must be located in a presidential-declared county.

** The Flood Insurance Reimbursement Program provides financial assistance to reimburse businesses for the cost of one year of flood insurance. Businesses are eligible if they had water in their building as a result of the 2008 disasters or are located in the 100-year or 500-year floodplain.

Funds for both programs are awarded on a first-come, first-served basis. For complete details, call the Rebuild Iowa Office at 515-242-5004 or go to www.rio.iowa.gov/news/releases/2010/050510_business_programs.html.