Seattle is opening up applications for grants to help small businesses across the city impacted by the coronavirus pandemic.
Businesses will be able to apply until Nov. 30 for the Small Business Stabilization Fund grants through the city's Office of Economic Development.
“Small businesses are the backbone of Seattle; they provide people with good-paying jobs and contribute to the cultural and civic life of our City,” Mayor Jenny Durkan said in a statement.
“The COVID-19 pandemic and resulting economic downturn have impacted so many small businesses, and too many neighborhood favorites have had to close their doors for good. The Small Business Stabilization Fund is a critical way for the City to invest directly in small business owners during this unprecedented time."
More than 9,000 businesses applied for the grants from the Small Business Stabilization Fund when applications for an initial round of funding opened in March, reflecting the massive need among businesses in the city. So far, the city has given 469 grants out to small businesses.
It will now be allotting $4 million in grants from the fund.
"By expanding this vital program, we’re ensuring our small businesses not only survive this pandemic - keeping their doors open, jobs intact, and health insurance for their employees accessible - but Seattle’s economy remains resilient in the long term,” Councilmember Teresa Mosqueda said.
Seattle businesses or nonprofits that can apply for the grants need to have 25 or fewer employees and have an annual net revenue less than $2 million. OED will prioritize businesses with five or fewer employees in areas "identified as high risk of displacement or highly disadvantaged." the city said.
“COVID-19 and its economic impacts have lasted longer than many of us originally anticipated. Our small businesses have been resilient, innovative, and flexible as they have navigated the initial shut down, phased re-opening, and changing consumer habits,” OED Director Bobby Lee said.
“Our small businesses have been extraordinarily courageous, but they still need support, especially our BIPOC, immigrant and refugee and micro-businesses—many of whom were already facing hardships before COVID-19. This grant can help our small businesses meet payroll, pay rent, or prepare in creative ways to stay open during the fall and winter months.”
Small businesses in the region have been struggling to keep their doors open since the start of the pandemic, when many had to shut down under the state's stay-at-home order. Countless restaurants and other businesses have had to close for good over the past several months.
City, state and federal officials have been working to provide more assistance to the many businesses and individuals that have continued to be impacted by the pandemic -- but the assistance hasn't yet been nearly enough to serve all of those struggling.
Source: https://www.seattlepi.com/coronavirus/article/Seattle-opens-applications-for-small-business-15716671.php