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Second round of grant funding available for Franklin County small businesses

Second round of grant funding available for Franklin County small businesses

The Franklin County Board of Supervisors and the Office of Economic Development is providing a second round of grant funding to help area small businesses.

This round of grant funding has $500,000 available to support small business recovery following the COVID-19 outbreak. One-time grants of up to $2,500 for full-time, self-employed business owners and up to $10,000 for businesses with employees are being provided to offset business impacts during the pandemic. The grant program will be administered by the Industrial Development Authority of Franklin County with assistance from Franklin County.

The second round of grant funding will be for full-time, self-employed business owners and for businesses with employees that did not receive a grant in the first round of funding.

Within local allocations of federal CARES coronavirus relief funds, localities are permitted to use the funds for small business grants. Specifically, the U.S. Treasury’s guidance memo stated that localities may provide “grants to small businesses to reimburse the costs of business interruption caused by required closures.”

The memo also said that localities may develop “a grant program to benefit small businesses that close voluntarily to promote social distancing measures or that are affected by decreased customer demand as a result of the COVID-19 public health emergency.”

The grant amount for businesses with employees will be based on the number of full-time equivalent employees (excluding the owner) or the amount of their demonstrated loss due to COVID-19, whichever is less:

Number of employees (full-time equivalent) and the maximum grant amount available:

n 1-5 employees — $2,500

n 6–10 employees — $5,000

n 11–25 employees — $7,500

n 26+ employees — $10,000

Electronic applications be accepted no later than Oct. 9 and will be available on the Franklin County website.

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