The Perry Chamber Foundation is one of four recipients of grant funding from the Iowa Rural Development Council for a pilot Rural Business Initiative. The effort is to provide support to rural small businesses and is funded through a $200,000 grant from the Wells Fargo Foundation. The Perry Chamber of Commerce Foundation intends to utilize the $30,000 IRDC funds and leverage matching support to facilitate a local business grant program, now open for applications until Tuesday, Dec. 31.
“This is an outstanding opportunity, thanks to the Wells Fargo Foundation, for targeted support of smallbusinesses in small towns,” said Mark Reinig, IRDC Board President. “These four pilot places – Perry, Minden, West Branch, and Pathfinders RC&D Region – have creative concepts to address existing needs and ultimately impact the viability of local businesses and economies.”
The IRDC grant program comes at an opportune time, following the closure of the Tyson plant in July which has caused economic strain in the community. Perry leaders acknowledge many small businesses have been facing financial strains even before that, some not yet recovered from the pandemic and continuing to face challenges with staffing, supply chains, rising costs, and declining sales.
“While current economic challenges are not unique to Perry, this year has been particularly challenging for the Perry business community,” said Lynsi Pasutti, Executive Director of the Perry Chamber of Commerce. “Despite more coincidence than chain reaction, a number of business closures has weighed heavily on overall morale which has created additional strain and concern that has been challenging to combat. Businesses of all size and industry, age and location are in need of assistance to persevere during this challenging time.”
With financial support and educational resources from the Wells Fargo Foundation and Iowa Rural Development Council, the Perry Chamber of Commerce Foundation – along with local partners including the Perry Chamber of Commerce and Perry Economic Development – will revive a pandemic-era grant program to support Perry businesses in need of working capital, as well as providing invaluable connections to resources for skill building and networking with the Small Business Development Center and The Iowa Center.
“This grant presents an opportunity for our community to build momentum towards fostering economic growth,” said Jeff Huitt, President of Perry Economic Development. “ Perry is a small community with a strong history of resilience and innovation, and this initiative will empower entrepreneurs and small businesses in Perry to expand their operations, create jobs, and contribute to the overall economic vitality of our community.”
Grant applications will be accepted until 5 p.m. on Tuesday, Dec. 31 to the Perry Chamber of Commerce and will be reviewed by the Perry Business Support Task Force. Grant requests should be $2,500-$7,500 with at least 10% matching funds. Applicants will also be required to demonstrate participation in at least one educational opportunity, including but not limited to a consultation with the Small Business Development Center or The Iowa Center, enrollment in a class or workshop, or similar endeavor. Eligible expenses include working capital for products, equipment, services, marketing, physical improvements, educational courses, networking memberships, or new staffing. Applicants will be notified of awarded grants by Tuesday, Jan. 28, 2025.
“Ultimately, the overall scope and capacity of the grant program will be determined by the total fundraising efforts, but the overall success of the program will be determined by the individual businesses,” Pasutti added. “Minimally, we hope to provide short-term financial assistance to a dozen or so businesses, but with additional educational support and development resources, we hope that the overall investment is long lasting.”
Total funding currently available for the local grant program is $53,500, thanks to pledged support from Perry Economic Development and remaining funds from the Business Modernization & Protection Grant in 2021. Applications are expected to exceed available funding, but fundraising efforts will continue, allowing for additional granting capacity as available.
In addition to seeking other grant sources, the Perry Chamber Foundation has launched a fundraising campaign. Donations for the Perry Business Support Fund – big and small – may be directed to the PerryChamber Foundation, online at GiveButter.com/Perry-Chamber-Foundation, or by mail through the endof the year with Memo: Grant Donation to PO Box 472, Perry, IA 50220.
Additional information and the application form for the Perry Business Support Grant is available atforms.gle/1TDbQZefxMCcWTtE6 or by contacting the Perry Chamber of Commerce at (515)465-4601 orLynsi@PerryIAChamber.org.
