City opens loan and grant programs to citywide businesses with 25 or fewer employees

0

Editor’s Note: Since Friday August 28, the deadline for submitting applications has been extended until Friday September 11. Anyone who completes an application by September 11 will have ample time to collaborate and submit a full application.

The first round of Columbus COVID-19 Small Business Response and Stimulus Fund, which was created to provide $ 5.5 million in loans and grants to small businesses through the CARES Act funding, was aimed specifically at businesses in low to moderate income areas. For the second round, the City opened eligibility to city-wide businesses with fewer than 25 employees.

Three funding programs are available: Recovery Grants, Personal Protective Equipment (PPE) Safe Return Grants, and Pivotal Loans.

Recovery grants providing small businesses with less than 25 employees up to $ 10,000 in grants to support business operations.

Safely Return Grants for Personal Protective Equipment (PPE) providing small businesses with financial support to secure PPE and make the necessary COVID-related security enhancements to reopen and operate their businesses safely. Grants of up to $ 5,000 are supported by a 1: 1 match requirement.

Pivot loans of up to $ 20,000 will provide small businesses with 25 or fewer employees access to capital to help them maintain business operations or create new jobs or make capital investments due to unexpected growth in the business. Marlet.

Applications for all three programs are currently available and open until 5 p.m. on Saturday, August 29.

To apply, companies must complete a preliminary admission form and be matched with an entrepreneur support organization that will help with the application process. Companies should work with their ESO partner for their application to be considered. Companies can apply for several programs.

Additional details on individual loan and grant programs and eligibility requirements can be found here.

Share.

Comments are closed.