Small Business Grant Program
The Missouri Department of Economic Development is currently receiving comments on guidelines for the Small Business Grant Program that will open in October. If your business was negatively impacted by the pandemic this program is meant for you.
A total of $10 Million has been allocated to support the Small Business Grant Program that is designed to provide assistance to small businesses through reimbursements for expenses resulting from the negative economic impacts experienced as a result of the COVID-19 pandemic. While the final regulations are still pending, draft regulations are currently available the DED Website.
According to the draft document “The Treasury regulations and other federal guidance require that small businesses must have been negatively economically impacted due to the COVID-19 pandemic in order to receive assistance.” If your business was one of the many affected by the pandemic there are few steps, you can be taking now to prepare for the application process when it opens.
- Review the draft guidelines to ensure your eligible. While the final regulations will be posted later this month, looking at the draft guidelines will help businesses understand the direction the program is going in.
- Start pulling together needed information and documentation. Tax forms from 2019 and 2021 will be part of the information you need to provide. Locating those documents now or working with your accountants will help you prepare in advance for the application.
- Provide Comments or Feedback. The Department of Economic Development is accepting comments and feedback on the draft guidelines through Wednesday. If you see something that could help the program reach out through the website to offer feedback.
- Finally, Stay Connected to information as the process moves forward. Following the Missouri Department of Economic Development on social media channels and connecting with your local Chambers of Commerce will be a great way to stay informed in the process and when the application window will open up.
The pandemic impacted many businesses in many different ways, if you were negatively impacted, be sure to investigate the resources that will soon be available.