Peoples Bank is one of two local banks helping fund a small business grant program for Warren County businesses that continue to experience hardships from the coronavirus pandemic.
Together with TruBank, Peoples Bank joins with the city of Indianola, Warren County, and the Warren County Economic Development group to fund the grant.
"The two local community banks stepped up in a time of need to cover the gap," said Peoples Bank President Kevin Halterman. "You're not a community bank if you don't re-invest in the people who made you successful"
The deadline to apply is Wednesday, May 20. Small businesses are encouraged to take advantage of these funds.
Here's who's eligible
- Sole-proprietors or businesses with 0 to 30 employees that have had restrictions placed on their operations due to the COVID-19 pandemic. Examples of businesses include, but are not limited to, retail stores, personal care services and restaurants.
- Must have a physical commercial location within the cities of Carlisle, Indianola, Norwalk, or unincorporated areas of Warren County.
- Must have been in operation since July 1, 2019 or prior.
- Must be a for-profit business of any legal structure (non-profit organizations are not eligible).
Businesses can apply for up to $5,000, with a minimum of $1,000. Preference will be given to businesses that have not received assistance from the Iowa Small Business Relief Grant, the Targeted Small Business Sole Operator Fund or other grants.
As part of the application process, you'll need to compile the following:
- 4-month income and expenses statements (Jan-April 2020)
- 4 month income and expenses statement (Jan -April 2019)
- 3-month projected income and expenses (May 1-July 30, 2020)
Balance Sheet (as of April 30, 2020)
Additional requirements are listed in the application.
Submissions and scoring are managed by Iowa Center for Economic Success. If you encounter issues with the application, please contact The Iowa Center at (515) 283-0940 or firstname.lastname@example.org.
Peoples Bank is a locally-owned and independent community bank. Founded in 1998, Peoples Bank has more than $320 million in assets with six locations in south central Iowa. To learn more about Peoples Bank, visit the website at www.mybankpsb.com. Follow us on Facebook at www.facebook.com/mybankpsb.