American Specific Affords $2.3 Million in Grant Funding to Again Small Companies

Small companies can use grant funds to revitalize communities, get better from challenges, or create high quality jobs. This week, authorities companies and firms launched a number of alternatives that cowl these numerous targets. Learn on to be taught extra about these applications.

American Specific Backing Small Enterprise Grant Program

American Specific and Foremost Road America simply opened the second iteration of the Backing Small Companies grant program. This yr, this system is providing much more grants, with a complete of $2.3 million accessible. Eligible enterprise homeowners can apply for grants of $5,000 grants to cowl bills used to improve or develop their companies. Present companies that may enhance historic downtown areas or neighborhood industrial districts will probably be prioritized, and 350 whole companies will obtain funding. The deadline to use is April 7, and grantees will probably be introduced in June.

Illinois Again to Enterprise Program

The Illinois Division of Commerce and Financial Alternative is launching a brand new spherical of the state’s Again to Enterprise grant program. This spherical consists of $175 million in accessible funds from the American Rescue Plan Act. This system will concentrate on companies that had been hit hardest by the pandemic, together with eating places, inns, and inventive arts organizations. The division will use declining revenues proven on tax returns to find out the quantity of every award. Nevertheless, for inns, funding will probably be primarily based on the variety of rooms. All eligible companies that apply will obtain funds, so quantities could differ relying on the variety of candidates. The appliance interval will open April 5 by Might 10.

Argyle Small Enterprise Grant Program

Argyle, Texas is providing a brand new Small Enterprise Grant program support companies that had been negatively impacted by the pandemic.This system consists of $250,000 in American Rescue Plan Act funds, and particular person grants will vary from $5,000 to $25,000. The quantity of every award will probably be primarily based on the enterprise’s annual income from 2020. And funds have to be used to cowl eligible enterprise bills. The deadline to use on-line is April 3.

South St. Petersburg Microfund Program

South St. Petersburg, Florida plans to launch its Microfund Program this spring to assist native small companies. Enterprise homeowners that apply for this system will create an enchancment plan, undergo an academic program, and work with a enterprise mentor. After finishing the 45-day program, small enterprise homeowners with a brick and mortar location can apply for grants of as much as $10,000. Co-working and home-based companies can apply for as much as $5,000. And startups can apply for as much as $2,500.

El Paso COVID Grants Program

El Paso, Texas is partnering with nonprofit lender LiftFund to launch a brand new COVID Grants Program. Town is dedicating $2.15 million to this system, which will probably be distributed in increments of $10,000 to eligible companies and nonprofits. Eligible bills embrace payroll, working capital, lease, stock, and numerous working prices. Companies and organizations that haven’t obtained prior COVID reduction grants will obtain precedence. Purposes can be found now by Might 31, or till funds are exhausted.

Philadelphia High quality Jobs Program

The Philadelphia High quality Jobs Program aims to assist town’s companies entice and retain staff whereas offering high quality wages to people. Eligible enterprise homeowners can apply for grants once they create new jobs. To qualify, employment alternatives have to be full-time positions for Philadelphia residents that pay a residing wage of not less than $15 per hour, present medical health insurance advantages, and provide paid day off. Moreover, the remainder of the employer’s full-time workforce should meet these necessities, although grants solely apply to new hires. Qualifying companies can apply for as much as $125,000 by this system, with every full-time rent eligible for $5,000.

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