Mason City council approves funding for North Iowa Corridor small business program

first_imgMASON CITY — The City Council in Mason City last night approved making a $300,000 financial allocation to the North Iowa Corridor Economic Development Corporation’s “Small Business Recovery & Continuity Fund”. The fund will help small, independently-owned businesses with less than 25 employees that are suffering during the public health emergency with grants up to $5000. About 250 businesses filed paperwork for the program’s pre-application process. North Iowa Corridor CEO Chad Schreck says those who have not received funding from state or federal programs will get first priority in the selection process.  “One of the standards that we’re looking at on that front would be if somebody’s received $5,000 in grant-type funding or more from outside sources, they’ll obviously be second priority to those that have not been able to receive funding from outside the county. That’s one way that we’re going to kind of whittle that pool down a little bit and really try to hit those folks that have the highest level of need that haven’t been able to address it elsewhere.”Schreck says some businesses who filled out the pre-application have decided not to fill out the full application since they’ve already received some type of funding. “We have had some that have found out since they did the pre-application they did receive funding either from the state or from the federal level and have decided not to pursue our fund, which we certainly appreciate.” Councilman John Jaszewski says he’s pleased the city is involved in the program.  “I think by the number of applications that we received, it’s obviously very evident that this was a much-needed program, and I’m just really pleased that we were able to do something for our local businesses that maybe some other way they could not get the funding. I’m really happy about this program and I think it’s a big plus for the whole community and the whole area.” The Clear Lake City Council on Monday night approved $100,000 for the program, while the Cerro Gordo County Board of Supervisors earlier this month also approved a $100,000 allocation. Other private donations to the fund are being accepted.last_img

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