Mayor Krewson Announces Availability of $1.25 Million in Additional CARES Act Funding for Small Businesses
Applications to the Small Business Grant Fund will again be accepted beginning at 10 a.m. on Monday, November 16
This article is 3 years old. It was published on November 12, 2020.
ST. LOUIS, Mo. – Mayor Lyda Krewson today announced that businesses in the City that have been severely impacted by the ongoing COVID-19 pandemic will soon be able to begin applying for $5,000 grants through a continued partnership with St. Louis Development Corporation.
The grants come from $1.25 million in federal CARES Act dollars that Mayor Krewson secured following last week’s meeting of the Board of Estimate and Apportionment. It builds on her previous investment of $4 million in CARES Act funding to support struggling small businesses, which resulted in $5,000 grants for 800 local businesses.
“We recognize that it’s an enormously challenging time for all the small businesses in our City that really are the backbone of our economy and the heart of our neighborhoods. We’re trying to do everything we can with the remaining federal resources we have to help them and their workers, especially as we head toward the winter months,” said Mayor Krewson.
Applications to the Small Business Grant Fund will again be accepted beginning at 10 a.m. on Monday, November 16 and will continue to be accepted until all grant funds are exhausted. Applications will be processed on a first-come, first-served basis.
Of the available funding, 50% will be reserved for businesses located within areas designated as Promise Zones, Opportunity Zones, and/or Neighborhood Revitalization Stabilization Areas.
Two hundred (200) of the grants will be awarded to businesses in the hospitality industry, including restaurants, bars, coffee shops, caterers, banquet facilities, entertainment venues, wedding planners, and wedding photographers. Food truck operators are eligible if the operator has a physical facility (kitchen) located within the City.
“We’re ecstatic over the opportunity to continue to provide these funds to help small businesses and minority-owned businesses try to mitigate the many economic and financial hardships created by the pandemic,” said Otis Williams, Executive Director of SLDC.
These are examples of some of the criteria businesses must meet in order to be deemed eligible for financial assistance:
- Must have 25 or fewer full-time equivalent (FTE) employees
- Must have a physical presence (owned or leased) in the City of St. Louis; home-based businesses are eligible if the residence is within the City limits
- Must have a current business license as confirmed by the License Collector’s Office
- Must be current on all City taxes and all City-required reports as confirmed by the Collector of Revenue’s Office
- Must have been closed or significantly impacted by continued economic challenges created by COVID-19 pandemic
- Must not discriminate on any basis outlined under City ordinances
Please visit the SLDC website here for a complete list of the requirements, including businesses that are NOT eligible, and for a link to the application.
Should an application be rejected because of any delinquencies, that business will need to apply again after resolving those outstanding issues. Businesses that received a grant in the previous round of funding are not eligible this time for their location that was already funded, but may apply if they have a separate location that meets all of the eligibility criteria.
Any questions regarding the Small Business Grant Fund can be sent directly to: email@example.com.