One other $7 million in pandemic support will quickly be obtainable for Anchorage small companies, and purposes open Friday, Dec. 18, in keeping with the town.
The $7 million for small companies shall be distributed by way of the municipality’s Small Enterprise Reduction Grant program. A lot of it’ll go to companies that had beforehand utilized to this system and had been placed on a waitlist. There’s additionally some cash for brand new candidates.
Companies who’re authorised will obtain $10,000. Prepare dinner Inlet Lending Heart is administering this system, and the funding can go to help enterprise operations — something from paying workers to lease, utilities and paying distributors.
The $7 million is damaged down into three particular swimming pools: $5 million will go to waitlisted companies from earlier small enterprise grant purposes, with $1.9 million put aside for companies that didn’t beforehand apply to this system, in addition to for any remaining waitlisted candidates. One other $120,000 shall be obtainable to franchise companies that beforehand utilized for aid however had been rejected as a consequence of being a franchise, in keeping with the town’s announcement.
Companies shall be awarded by random choice, and candidates who had been waitlisted beforehand don’t must reapply. They may mechanically advance to the random choice course of, the town stated.
The town listed a number of necessities for brand new candidates.
• The enterprise have to be within the municipality.
• In 2019, the enterprise should have earned $2 million or much less in gross income.
• The enterprise should have been impacted by the COVID-19 pandemic.
• The enterprise should have opened on or earlier than March 1, 2020.
• The enterprise can’t be restricted to prospects over 18 or 21, like a liquor retailer or a smoke store.
• If the enterprise is a sole proprietorship, single-member LLC or company with just one shareholder, the proprietor should get not less than three-quarters of their private gross earnings from the enterprise.
Companies that already acquired funding from a earlier spherical of the grant program aren’t eligible for one more grant, the town stated.