COVID-19 SMALL BUSINESS GRANT DEADLINE IS TONIGHT

Tonight is the deadline for small businesses affected by the Covid-19 pandemic to apply for grant money.

The Covid-19 Relief Statewide Small Business Assistance Program is funded by federal CARES act funding.  The program, announced earlier this month, will provide $225 million in grants ranging from $5000 to $50,000 to eligible businesses.  Funds will be distributed first to the Department of Community and Economic Development, then to Community Development Financial Institutions so they can distribute the money to businesses in the form of grants.

There are three grant programs that will be available $100 million will be distributed through through the Main Street Business Revitalization Program, another $100 million through the Historically Disadvantaged Business Revitalization Program, and the remaining $25 million will go through the loan deferment and loss reserve.

Businesses can apply for the grants through a CDFI and can do so by following one of these two links: