Governor Chet Culver announced today that the state will provide $40 million in housing and business assistance for Iowans impacted by floods and tornadoes this year. For more information on the Jumpstart Housing program, click here. Information on the Jumpstart Business program is available here.
The $20 million in housing assistance will help Iowans rebuild, repair, relocate, or make interim mortgage payments up to $1,000 per month, which also helps Iowans with property tax payments. Businesses will get the other $20 million in assistance with up to a $50,000 forgivable loan, which means they won’t have to be repaid like the federal SBA loans, to help re-open or rebuild.