Missouri Department of Economic Development announces up to $30 million in grant funds for small businesses
The purpose of the Small Business Grant Program under section 601(a) of the Social Security Act, as added by section 5001 of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) and Section 7.031 in House Bill 2007 (2020) is to provide grants to small businesses and family-owned farms for reimbursement of costs of business interruption caused by required closures in connection with the COVID-19 public health emergency.
The focus is on impacting the hardest hit industries, which include retail trade, accommodation and food service and health care, in addition to family-owned farms. However, the grant is not limited to these industries.
Organizations eligible for this grant employ 50 or fewer employees, including the owner(s). Grant amounts are initially limited to $50,000, and organizations applying must incur or have incurred costs due to COVID-19 between March 1, 2020 and November 15, 2020. Applications will consider industry, timely use of funds, and availability of funds.