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Cook County plans to give out grants of up to $10,000 to small businesses hit hard by pandemic - Chicago Tribune

Cook County plans to give out grants of up to $10,000 to small businesses hit hard by pandemic - Chicago Tribune


Cook County plans to give out grants of up to $10,000 to small businesses hit hard by pandemic - Chicago Tribune

Posted: 23 Sep 2020 05:24 PM PDT

To be eligible, the businesses must be for-profit, have 20 or fewer employees and prove sales dropped by more than 20% during any month from March to July, compared with February. If the business received federal funding in the past, the applicant must demonstrate they will use this grant for different expenses. Finally, the business cannot have an IRS tax lien or other judgment, and the owners and partners cannot be in the process of bankruptcy.

Small Business Grants Available for Minority-Owned Businesses - Norwood News

Posted: 24 Sep 2020 01:52 PM PDT

Mosholu Preservation Corporation (MPC) is partnering with Local Initiatives Support Corporation (LISC) NYC to support local, small businesses in the Norwood and Wakefield neighborhoods through the LISC NYC Small Business Relief & Recovery Fund.
Image courtesy of LISC NYC

Mosholu Preservation Corporation (MPC) is partnering with Local Initiatives Support Corporation (LISC) NYC to support local, small businesses in the Norwood and Wakefield neighborhoods through the LISC NYC Small Business Relief & Recovery Fund. The Fund will provide grants of $10,000 to minority-owned, small businesses, in response to their needs to successfully retool and adapt to new business guidelines and a changing marketplace, in the wake of COVID-19.

LISC NYC embraces an inclusive, economic development agenda that prioritizes targeted investments in public infrastructure, human talent, innovation, diverse enterprises, and community organizations. This aligns with MPC's efforts to advance the health and wellbeing of Bronx communities through small business support, neighborhood development, quality housing, and local news.

Through this partnership, MPC will support businesses in the Norwood and Wakefield area in screening grant applications to the LISC NYC Small Business Relief & Recovery Fund. In addition, MPC will deliver technical assistance and business development support to participating businesses.

Business applicants selected by LISC NYC as relief fund grantees will receive support from MPC and avail of its specialized menu of small business services provided to all Northwest Bronx Merchants, helping them rebuild the commercial corridors hit hardest by the COVID-19 pandemic. They will also be connected with the NYC Department of Small Business Services' Bronx Business Solutions Center.

The pandemic, and the resulting economic downturn, has had a severe impact on the ability of New York small businesses to survive and thrive. This funding opportunity is crucial in MPC's fight for Bronx businesses, which have been repeatedly shut out of other aid opportunities made available during this pandemic. Many Bronx merchants didn't qualify for available aid because of citizenship status, bookkeeping capabilities, employee numbers or because their needs weren't addressed under the eligibility requirements pertaining to use of funds.

The relief fund grants can be used for payroll, overhead, rent, upgrades to technology and infrastructure, marketing, employee training and other business expenses. Business owners seeking to apply for these grants must receive assistance from a partnering Community Based Organization (CBO) in order to submit their applications. MPC, as a CBO partner, will help business owners apply for these grants and will also provide additional, technical assistance and training to help them sustain their businesses.

To be eligible for this grant, small businesses must be minority owned, have an annual revenue of less than $500,000, have fewer than 20 employees, be formally registered and in business for at least one year, and be located in New York City. MPC will be providing applicants to LISC NYC for Round 2 of this grant opportunity from Monday, Oct. 19 at 9 a.m. EST through Friday, Nov. 6, at 11.59 p.m. EST.

If you are a small business interested in applying for grant funding, please contact Daniela Beasley at dbeasley@mpcbronx.org.

Daniela Beasley is Manager of Small Business Support at Mosholu Preservation Corporation. For more information, please follow @mpcbronx on Instagram or head to our website at www.mpcbronx.org.

City of Portsmouth accepting applications for small business grants - WSAZ

Posted: 24 Sep 2020 01:44 PM PDT

PORTSMOUTH, Ohio (WSAZ) - The city of Portsmouth is offering grants totaling up to $200,000 to local businesses.

City officials say local business owners can apply for a grant of up to $10,000. Businesses must have been operational since January 2019 and must have ceased operations or 15 percent lower revenue in April and May 2020 than in April and May 2019.

Businesses must also be locally owned and operated.

Banks, liquor stores, vape shops, tobacco stores, real estate investment trusts and independent contractors are not eligible for grants.

Business owners must use the grant funding for expenses that were not covered by the Paycheck Protection Program.

For more information on the program and application information, click here.

Copyright 2020 WSAZ. All rights reserved.

To help weather pandemic, Mayfield Village is offering its small businesses grants of up to $2,500 - cleveland.com

Posted: 25 Sep 2020 06:39 AM PDT

MAYFIELD, Ohio -- The village is offering grants to small businesses of up to $2,500 in an effort to help them through the COVID-19 crisis.

Village Council unanimously approved Monday (Sept. 21) legislation that will make available for the Small Business Relief Fund program $50,000 from Mayfield's economic development fund. Small business owners must apply for the grant by Oct. 16. The program will continue until the $50,000 is exhausted.

"Complete, eligible grant applications with the necessary back-up documentation will be processed in a first-in, first-out fashion," stated Economic Development Manager John Marquart, in an email, when asked by cleveland.com for details. "Each applicant will have the opportunity to request any amount up to $2,500."

The program is to be administered by the Mayfield Community Improvement Corporation (MCIC), which will determine how grants are dispersed.

"After a good deal of debate," Marquart said, "we settled on the $2,500 award as a figure that would have a meaningful impact for our businesses, while still allowing us to spread the aid to a wider number of businesses."

The village is home to approximately 130 businesses, of which about 90, Marquart said, would be considered small businesses.

"Many companies were temporarily shut down in the spring due to orders from the state of Ohio," he said, "but we are fortunate that no one has yet to close permanently due to the virus. We hope this program can serve as a bit of a lifeline to help folks continue to weather the storm and make it through the crisis."

Mayor Brenda Bodnar said that she hopes that the money will keep village businesses open and thriving.

"I'm very glad that we were able to roll out our grant program," she said, "especially during national Small Business Week. Even though other programs offered some early assistance through loans and grants, that funding has pretty much been exhausted. The need, however, remains.

"We are hopeful that our grant program can help sustain our small businesses through these challenging times, and let them know that they are an important part of the Mayfield Village community."

Marquart, in a Sept. 1 letter to Village Council, stated that, with federal aid being made available to businesses in recent months, it would be prudent for the village to wait before taking action and see how those programs would work, and if the virus would abate. He said that, over the summer, 30 village businesses applied for Paycheck Protection Program (PPP) loans and grants via their lending institutions, money guaranteed by the Small Business Administration. While exact SBA dollar figures are not made known, Marquart stated in his letter to council that at least $12.65 million was lent to those 30 businesses, and helped preserve 1,300 jobs.

As for the the village's Small Business Relief Fund program, business owners will have to fill out an application in order to receive grant money. That application asks for documentation showing things such as gross sales, profit and loss, payroll records, rent or mortgage payments, utility payments, receipts for PPE for staff, and receipts for sanitizing equipment and supplies.

To be eligible, businesses must be physically located within Mayfield, employ 20 or fewer people, be in good standing with the village (having no outstanding citations), be able to document eligible expenses equal to the amount of the grant requested, and demonstrate a negative financial impact brought on by COVID-19. Home-based businesses do not qualify.

"We anticipate that the $50,000 fund will be exhausted in short order, likely within a month," Marquart said. "If the demand from the business community remains, we plan to approach Village Council with a request to replenish the fund with an additional $50,000 for a second round of awards."

Marquart went on to add, "Mayfield Village is home to a vibrant mix of small businesses, many of whom face the challenge of a lifetime due to the COVID-19 pandemic. Mayfield Village is fortunate to be in a position to respond to their needs, and both the administration and council are pleased to offer this assistance to help them weather the storm."

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