Redwood County EDA announces new round of CARES Act small business grant funds
Redwood County received $1.9 million in federal CARES Act Coronavirus Relief funds through the State of Minnesota.
One of the eligible fund uses is to provide financial assistance to for-profit and non-profit businesses in Redwood County negatively impacted by the COVID-19 pandemic.
On Sept. 1, 2020, the Redwood County Economic Development Authority (EDA) began accepting applications from Redwood County small businesses, for the Redwood County COVID Small Business Relief Grant program.
A total of 139 eligible applicants were awarded, totaling $1,236,974. The County CARES Act Oversight Committee, with the support of the county commissioners continue to prioritize the fund uses and have determined a second grant cycle will be offered.
Approximately $300,000 remains available to be distributed to eligible small businesses located in Redwood County.
The purpose of the Redwood County COVID Small Business Relief Grant program is to provide a grant opportunity for businesses experiencing financial hardships due to the COVID-19 health pandemic, adhering to federal rules and regulations associated with the CARES Act funding.
The primary goal of the program is to facilitate business survival and enhance, to the greatest extent possible, retention of jobs throughout Redwood County.
The program is available to for-profit and non-profit businesses with a physical location in Redwood County. Eligible businesses may request up to $10,000 per business.
The actual grant award will be based on the businesses economic injury, financial need and availability of grant funds. Applicants who have been notified of a grant award from the first grant cycle are not eligible to apply for a second grant.
The desire is to reach those businesses who did not submit an application through the first grant cycle.
Applications for the second grant cycle will open Oct. 12, 2020 and close at 4 p.m. Oct. 21, 2020.
Those interested are encouraged to review the Redwood County COVID Small Business Relief Grant program guidelines and apply online at apply.redwoodcounty-mn.us/.