Finkenauer Announces Multi-Million Dollar Federal Investment in Northeastern Iowa Small Businesses

WASHINGTON, DC – Congresswoman Abby Finkenauer (IA-01) on Thursday announced that the East Central Intergovernmental Association in Dubuque will receive a $2.2 million coronavirus recovery and resiliency grant from the federal Economic Development Administration.  

The grant will provide funding for a new revolving loan fund to support and address the economic development needs of small businesses and entrepreneurs impacted by the coronavirus pandemic, with the goal of providing resources and relief to small businesses and furthering the long-term economic objectives of the region by supporting economic resiliency.  

This funding was made available through the CARES Act coronavirus relief package that Congresswoman Finkenauer helped pass in March.  

"As we’ve heard in our bipartisan Small Business Committee hearings, Iowa’s small businesses are struggling and need relief. These loans will provide a lifeline to entrepreneurs weathering this pandemic," Congresswoman Abby Finkenauer said. "Local shops, restaurants and manufacturers are the heartbeat of Iowa communities, and I’m grateful that we’re able to provide them with real financial support in these difficult times."   

The loans will be distributed by the East Central Intergovernmental Association and are available to small business owners and entrepreneurs in Cedar, Clinton, Delaware, Dubuque, and Jackson Counties.