A $20 million Covid-19 reduction program for Erie County small companies acquired $97.3 million value of requests for help – almost 5 instances greater than is offered.
The “Again to Enterprise” program attracted functions from 5,022 small companies harmed by the pandemic, looking for assist with masking their bills.
With so many candidates, the competitors for funding might be stiff.
“We’re not going to have the ability to pay out each get together that utilized within the quantity that they have been searching for,” County Government Mark Poloncarz stated.
“Again to Enterprise” will distribute funds from the federal CARES Act. The county partnered with the nonprofit 43North to advertise this system and course of the functions. Small companies are eligible for grants of $10,000, $25,000 or $45,000, relying on their variety of workers.
“The objective is to hopefully have all the things set and the cash out the door by Dec. 1,” Poloncarz stated.
If there’s leftover cash from different county packages supported by CARES Act funding, similar to for hire and mortgage reduction, these funds may very well be added to the “Again to Enterprise” fund. However any further funds would nonetheless fall far in need of assembly all the requests which have poured in.
The “Again to Enterprise” program will prioritize companies which have but to obtain Covid-19 associated help, minority- and women-owned companies, companies positioned in extremely distressed ZIP codes, these looking for to rent or carry again employees who have been furloughed or laid off, and companies not but allowed to reopen.