Miami County small businesses that lost revenue from the effects of COVID-19 can apply for new grant money.
At its meeting Sept. 30, county commissioners approved the Miami County CARES Small Business Grant Application program.
Applicants can seek awards of up to $3,000 from the overall pool of $100,000 in CARES funding that has been set aside for the grant program. The application portal opens Wednesday, Oct. 7, and closes Wednesday, Oct. 21. All documentation must be submitted by the close of the application period.
For more information, see the Miami County Economic Development Facebook page, https://www.facebook.com/MiamiCountyEconomicDevelopment.
Businesses and nonprofits are eligible, according to the county.
Applicants, through financial reports, must be able to show a loss in revenue because of COVID-19, and businesses must have been in operation in Miami County as of March 17. A business must still be in operation and under the same ownership, according to the program’s guidelines.
Applicants are ineligible if they received CDGB-CV funds allocated by Miami County or the cities of Louisburg and Osawatomie.
Applicants are also ineligible if they received $150,000 or more in financial assistance from the Payroll Protection Program, or if they have more than 100 full-time equivalent employees.
Recipients will be selected based on a matrix point system, and awards will be made until funding is exhausted, according to program guidelines. The grants will range from a minimum of $500 to a maximum of $3,000.
Scoring will be completed on all applications with a focus on community impact, operation longevity and COVID-19 impact on revenues.
Grants will be based on lost revenue and expenses that have already been incurred and not on anticipated future losses. The focus will be on working capital-related items including wages, utilities, rent or mortgage payment, COVID-19 related signage, cleaning and sanitation expenses, according to the guidelines.
For more information, see the Miami County Economic Development Department’s Facebook page.
Information will be verified during late October with awards anticipated in early November, according to the county.