Since the beginning of the Covid19 pandemic in 2020, the US government has committed nearly $6 trillion to prop up the economy and support small businesses to survive the unprecedented damages. The fiscal stimulus for small businesses came in various forms like bailout and stimulus checks. After two years, the recipients of the emergency funds have spent almost all the money. Just at a time when the global vaccine rollout was showing positive signs about slowing down the spread of the Delta variant novel coronavirus, a new variant of the virus, Omicron, started rampaging across the world in November-December. The extremely high transmissibility of Omicron infected people in considerable numbers in a short time, and infections skyrocketed at a fantastic speed. Small business grants are again back in focus to counter the fresh economic distress.
Small business grants for addressing ongoing Omicron problems
Besides the federal government extending massive financial support to small businesses that helped to tide over the crisis during 2020 and 2021, they can now find new opportunities for financial assistance in the form of business grants. These grants should help small businesses boost cash flow and gather strength to counter the effects of the Omicron surge effectively. Business owners will have some extra cash to prop up the finances and start the year with confidence, hoping the Omicron wave subsides soon. These new grants are in addition to any federal small business grants that businesses might have received earlier.
The current grants are part of the initiatives taken by the cities and counties that have come forward to support small businesses tide over the stress during Covid. Here are some small business grants available across the country.
Elkhart American Rescue Plan Grant
In January, Elkhart in Indiana had introduced a fresh round of funding for small businesses, offering grants. Grants are one-time financial assistance without any payback, and the funds amount to $25,000. Businesses that faced hardships or downed shutters due to the Covid19 impact can apply for the grant via the city’s website. The last date of application was January 31.
Bayonne Small Business Grants program
In January, New Jersey’s Bayonne city council passed a resolution to allocate more funds for small businesses. The scheme is similar to many other business grants offered in some other cities. During the earlier rounds, the Small Business Brant Program of the city has already awarded $5 million to small businesses by using the funds available from the American Rescue Plan Act. The city now plans to spend even more, and applications are available on the city’s website for the new round of funding.
New River Valley Small Business Program
The New River Valley Small Business relief Program launched by Virginia City aims to support small businesses. It is not clear if it includes startup business grants, which could receive up to $15,000 to mitigate the financial problems caused by the pandemic. As part of its pandemic recovery plan, the Virginia Department of Housing and Community Development awarded a grant named Community Development Block Grant that covers the new grant program. January 28 was the due date for applications.
Iowa City Small Business Matching Grant
February 4 was the due date inviting applications from eligible local businesses for availing the Iowa City Small Business Matching Grant. The maximum amount is $5,000 for companies with some employees, and companies that do not have employees can apply for $2,000. Local entrepreneurs who are city residents will get priority over others. Entrepreneurs can use the money for various expenses ranging from website development to accounting. However, 50% of the recipients must be minorities, individuals with disability, women, and service-disabled veterans.
Kern County Small Business Microgrants
Kern County is ready to launch a fresh round of $1 million funding for its small business grants program. Businesses that previously did not qualify can now benefit. Every eligible local business that earned less than $50,000 in 2019 can receive $2,500, and they must prove they did not receive any financial assistance earlier.
All these small business grants have really been quite helpful and effective for many businesses out there. The grant amount may vary but its purpose is the same.
