Coronavirus: Small businesses denied $10K grants by Montgomery County may be back in luck - Dayton Daily News

Coronavirus: Small businesses denied $10K grants by Montgomery County may be back in luck - Dayton Daily News


Coronavirus: Small businesses denied $10K grants by Montgomery County may be back in luck - Dayton Daily News

Posted: 22 Jul 2020 02:23 PM PDT

This is the second time commissioners have relaxed requirements to allow more small businesses to apply for the program.

Commissioners earlier changed the eligibility rules to allow businesses with 50 or fewer employees and annual receipts below $5 million to apply. Before that, the county's program to distribute $40 million in CARES Act funding was limited to businesses with fewer than 30 employees and less than $1 million in annual revenue.

To qualify for a grant, the business must also meet the following criteria:

  • Be locally owned and located in Montgomery County
  • Have a physical storefront and/or be an allowable home office as reported in the most recent filed tax return
  • Be current on all state, federal and local taxes
  • Be in compliance with state small business requirements
  • Retain one full-time employee for at least three months after the grant award

At least 16 small business have been awarded the $10,000 grants from the program launched in June. As of last week, 333 small businesses had applied, according to the county.

ExploreCoronavirus: How will local governments spend $142M in federal stimulus money?

Montgomery County received an initial allotment of $92.77 million in funds that could reach more than $200 million. The money is also being used on programs aimed at supporting education, nonprofits, agriculture and health care industries, as well as to provide housing assistance to individuals and families.

Last week, the county launched the programs to help people with rent, mortgage and utility payments.

ExploreCounty program to help people with rent, mortgage with up to $10K

Grants of up to $10,000 to support housing payments are available to eligible residents who experienced a loss of income after March 1, 2020 due to the pandemic. The loss of income could have been caused by a layoff, reduced work hours, furlough or reduction in pay, according to the county.

In addition to the $10 million housing program, commissioners have also approved a program for eligible nonprofits to receive grants up to $100,000 and another to offer grants up to $1 million to qualifying educational institutions. The county has not announced the start date of those programs.

Applications for the small business and housing programs are available at www.mcohiocares.org.

The Montgomery County Office of CARES Act housing programs

Eligibility for each housing program requires a loss of employment income after March 1 due to COVID-19. The loss of income could have been caused by a layoff, reduced work hours, furlough or reduction in pay.

Mortgage Assistance Program

The HomeOwnership Center, a program of County Corp, is administering the Mortgage Assistance Program, which can help residents bring mortgage payments current.

Montgomery County residents may qualify for mortgage relief if you:

- Own a home in Montgomery County with an original mortgage of $200,000 or less.

- Are behind on mortgage on or after March 1.

Applicants will be required to complete an application, provide required documentation, and discuss the circumstances with HomeOwnership Center staff as well as participate in follow-up with HomeOwnership Center staff about financial and mortgage status.

Apply for the Mortgage Assistance Program at www.homeownershipdayton.org/map

Rental Assistance Program

Miami Valley Community Action Partnership is administering the Rental Assistance Program, which can help people catch up on rental payments.

Renters may qualify for relief if you:

- Rent your residence in Montgomery County.

- Fell behind on rent on or after March 1, 2020.

- Complete the application available on Miami Valley CAP's website. An intake specialist will follow-up on applications and ask for additional documentation.

Apply for the Rental Assistance Program at https://miamivalleycap.org/intake-form/

Utility Assistance Program

Residents may also qualify for financial assistance with gas, electric, or bulk fuel utility payments due to loss of income caused by the coronavirus pandemic.

Apply for the Utility Assistance Program at https://miamivalleycap.org/utility-assistance-intake-application/

Residents can also sign up at www.mcohiocares.org for email alerts about the programs, including upcoming financial aid programs for agriculture, education, nonprofits or healthcare institutions.

Raimondo pledges $100M in small-business grants | Jamestown Press - Jamestown Press

Posted: 22 Jul 2020 09:06 PM PDT

Gov. Gina Raimondo has promised $100 million to small businesses that are struggling to rebound from the shutdown caused by the coronavirus pandemic.

"Help is on the way," she said.

Raimondo said the money will come from the $1.25 billion appropriated to Rhode Island by Congress through the Coronavirus Aid, Relief, and Economic Security Act. While applications are expected to be available next week, she said it would take another month to review them. They will be processed on a first-come, first-served basis.

The first round of grants, totaling $50 million, will assist businesses with fixed costs, like rent and utilities, and reopening expenses. Those costs, for example, could include purchasing plexiglass and upgrading technology for touchless payment.

Although small businesses in Rhode Island are defined as having fewer than 51 employees, only businesses limited to 20 workers will be eligible for the $50 million. Restaurants, however, are exempt from that rule. Maximum grants of $15,000 during this round will be given to businesses that can demonstrate a loss in revenue of at least 30 percent due to COVID-19. Twenty percent has been earmarked for businesses owned by minorities.

"That amount of money is not even a drop in the bucket compared to the need," Raimondo said. "So, we have to be smart about it."

Despite these efforts, a group of employers led by Lt. Gov. Daniel McKee said not enough is being done to get small businesses back on their feet. They have urged Raimondo to pledge at least $125 million in grants, and have asked that they be administered at the local level. Chris Parisi, owner of a Providence marketing firm, spearheaded the Rhode Island Small Business Coalition to fight for those requests. He also wants Raimondo to streamline the application process. Parisi said six weeks is "a long time to tell small businesses to wait and be patient."

McKee agreed. "A lot of businesses are going to close," he said. "And $50 million in grants is far short of what the ask was."

Rhode Island Commerce will have the final decision on which businesses will be awarded, but McKee and Parisi suggested having municipalities distribute the money.

"Businesses know what they need to spend the money on; they don't have to be told," he said. "They don't need to be coached. Give them the money and let the municipalities distribute it."

Parisi also cautioned the state agency from "picking winners and losers." Because Raimondo said the commerce corporation, when awarding money, will take into account whether the business is expected to survive, Parisi questioned the process of denying financial relief to business owners who have "put 20 or 30 years of their blood, sweat and tears" into their companies.

"How can you tell that to that small business?" he asked.

Nancy Beye, owner of the Jamestown Early Learning Center, is a member of the Rhode Island Small Business Coalition. Although the plan by Raimondo "is a good start," she said $50 million is not enough.

"The success of the grant program will depend on how accessible the funds are, how quickly funds are distributed and how many small businesses the funds will help," she said.

Chaudine Charron, president of the board for the local chamber of commerce, said she has been a firsthand witness to the negative effects of COVID-19 on employers.

"The small-business community has been hit exceptionally hard financially, and Jamestown is no exception," she said. "Businesses are working harder than ever to keep their doors open, while ensuring the safety of customers and employees. Gov. Raimondo's announcement of small-business grants is a welcome start. However, we urge her to expedite the process to get these funds to businesses as soon as possible since a significant amount of valuable time has already transpired."

WEDC reviews more than 30000 applications for small business grants - WKOW

Posted: 22 Jul 2020 05:05 PM PDT

MADISON (WKOW) -- The Wisconsin Economic Development Corporation (WEDC) has reviewed all of the more than 30,500 applications it received last month from small businesses seeking 'We're All In' grants, WEDC Secretary and CEO Missy Hughes announced Wednesday.

In the program's first phase, WEDC approved grants totaling $40.7 million to almost 16,300 businesses throughout the state. WEDC has already disbursed more than $27.4 million to nearly 11,000 businesses; the organization is processing an additional $13.3 million to more than 5,300 businesses.

In the second phase, which is already under way, WEDC staff are working with the remaining roughly 14,000 businesses to gather additional information about their applications to help them qualify for the grants.

"The idea behind the We're All In grants was to get much-needed funds into the hands of small businesses affected by the COVID-19 pandemic as quickly as possible," Hughes said in a release. "We have learned from the applicants that, in many cases, these grants are really helping them to keep the lights on."

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