Getting started Monday:, Many small businesses in Washington that have been financially affected by COVID-19 restrictions can apply for up to $ 25,000 in grants from the State Department of Commerce.
The grants are part of the $ 240 million Small Business Aid Phase IV through the state’s Working Washington program. The funds are intended to help small, brick-and-mortar businesses cover rents such as rent as well as epidemic costs such as additional sanitation and personal protective equipment.
The grants are available to businesses operating outside of their physical location with revenues of $ 25,000 to $ 5 million in 2019. According to the department, this “core business”, which often helps anchor the commercial nuclei and trading districts, was often required to close or significantly reduce operations due to health constraints.
“It’s the store you go to, or you go to every day, when you go to work by car, or you have lunch or coffee, or you leave the dry cleaning,” said Lisa Brown, State Department director Arthur, who provides grants.
The $ 240 million funding is almost double the total of the previous three rounds, and the $ 25,000 maximum grant is 25% more than the previous maximum.
The new stage is also intended to distribute the funds equally throughout the republic, to include the historically insecure population. These include enterprises in rural or low-income areas – enterprises run by minorities, veterans, women, and members of the LGBTQ community.
The department website offers grant applications in 16 languages, և support is available from բաժ partner կազմակերպ community organizations in 40 languages.
“Officials encouraged any ‘brick-and-mortar enterprises’ that were required to close or significantly reduce health and safety operations,” the ministry said in a statement.
Companies that were rejected in the previous rounds can apply again in the fourth round, as can those who received funding in the previous rounds, although earlier prizes may be deducted from any current prize.
The funds come from about $ 10.6 billion, which the state of Washington will receive for $ 1.9 trillion under the US Federal Rescue Act signed last month by President Biden.
The exclusion of businesses with less than $ 25,000 in revenue or no fixed commercial location reflects the fourth stage of focus on companies with ‘heavy costs’, such as rent, which are likely to face the most significant challenges of paying those heavy costs due to forced closures. It is mentioned on the website of the trade section.
The focus on the brick-and-mortar business is also aimed at helping homeowners, many of whom have offered discounts to tenants during the epidemic.
“Many of the small businesses that are not eligible for this final stage were eligible for previous stages; they may be eligible for further grants,” Brown said.
State lawmakers are considering another round of legislative budget grants, Brown said.
The Department of Commerce is also looking into a recovery-credit fund that will provide businesses with low-interest loans of up to $ 100,000.