Small business grants available for Mukwonago businesses | Business | - Greater Milwaukee Today

Small business grants available for Mukwonago businesses | Business | - Greater Milwaukee Today

Small business grants available for Mukwonago businesses | Business | - Greater Milwaukee Today

Posted: 25 Jul 2020 06:00 AM PDT

MUKWONAGO — Mukwonago announced a small business grant program that is available for businesses to apply for until Aug. 31.

To be eligible, businesses must: be located within the village of Mukwonago; have less than $1 million in annual sales revenue; provide a good or a service (retail business); and have been in operation prior to Jan. 1, 2020.

The grant funds can be used for a number of things, including: rent, mortgage or lease; payroll expenses; exterior lighting, signage, or other improvements; and improving technology.

The maximum grant amount per applicant is $5,000. A total of $50,000 is available.

All applications are submitted directly to the village.

Emergency grant program for small businesses is out of money - CNBC

Posted: 13 Jul 2020 12:00 AM PDT

Foot traffic is slowly returning to Brattle Street and Harvard Square in Cambridge, Massachusetts, but local small businesses are still suffering from the extended coronavirus lockdown.

Lane Turner/The Boston Globe via Getty Images

EIDL loans

The EIDL Advance program, created by the CARES Act, gave emergency grants to small businesses within three days of their application being filed.

The grants don't have to be repaid, even if an application for an EIDL loan — which offers up to $150,000 in funding — was ultimately denied.

However, the grants were plagued by long delays and changing rules that frustrated entrepreneurs.

It took some business owners several weeks to get what was meant to be fast cash. The SBA also capped the amount of funding at $1,000 per employee, diverging from the CARES Act's original intent of paying any sum requested by a business owner up to $10,000.

Nearly 6 million businesses received funding through the EIDL Advance program, according to the SBA.

Relief running out

However, businesses are still struggling and many have already exhausted other sources of aid.

The Paycheck Protection Program, also created by the CARES Act, offers small businesses low-interest loans that convert into grants if funds primarily go toward payroll costs, among other parameters.

However, more than half — 56% — of PPP borrowers have spent their loan funding, and the remaining 44% are likely not far behind, according to a recent survey by the National Federation of Independent Business, a trade group.

Businesses that received a loan can't apply for a second round of funding, absent additional intervention from lawmakers. Businesses that haven't yet gotten a PPP loan can apply through Aug. 8.  

Yet many small businesses are still struggling. Of those that applied for a PPP loan, a disaster loan or both, 46% expect to need additional financial support over the next 12 months, according to the federation.

Some states, including California, Nevada and Texas, and cities like Atlanta have reimposed some business closures to contain rising coronavirus infections.

July 20 Deadline for Corpus Christi Small-Business Grants - Corpus Christi Business News

Posted: 10 Jul 2020 12:00 AM PDT

The deadline for a small business grand program has been extended by one week. Small businesses in the Coastal Bend have until 8 a.m. July 27 to apply for two different grants of $500 each, announced the city of Corpus Christi, the Port of Corpus Christi, and the United Corpus Christi Chamber of Commerce at a recent joint news conference.

The grant programs include businesses in San Patricio and Nueces counties and the city of Corpus Christi. Those in Corpus Christi can apply for both grants, one of which is a $500 credit on electric bills. Those in either of the two counties but not in the city can apply for $500 in cash to help pay their bills. City businesses can apply for both.

The Small Business Regional Pandemic Recovery Program grants will be distributed by lottery rather than first-come, first-served. Once the deadline has passed, the city will begin handing out the money and credits.

At least 1,000 businesses should be able to take advantage, said Corpus Christi City Council member Paulette Guajardo. The city is providing $500,000 for the grant fund, while the Port of Corpus Christi is providing $250,000 for a total of $750,000.

"The reason we decided on $500 is that we felt that was a good number for a utility account," Guajardo said. "The businesses I talked to saw it as a way to pay other bills, too, like postage, whatever that may be. They're reaction to it was great."

To apply, visit the United Corpus Christi Chamber of Commerce website. Click on the "Small Business Regional Pandemic Grant Program" box, which is visible on the homepage. It takes you to the application page.

Eligible businesses are those that employ up to 20 full- or part-time employees at all of their locations, have been in business at least 12 months, and have gross revenues of not more than $1 million from all business activities. They also have to demonstrate a loss of at least 25 percent of revenue in the period beginning March 1, 2020.

"While it may not be a lot in some circumstances, it may be enough to make a difference," Corpus Christi Mayor Joe McComb said. "Don't be afraid of the red tape. The chamber will work with you to get this assistance to you as soon as we can."

The grant's focus on small businesses is a tribute to how important they are to the community, the mayor continued.

"If we don't have small businesses, we don't have a city," McComb said.

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