The Enid Regional Development Alliance (ERDA), in a partnership with the City of Enid, has launched a new program to support businesses negatively impacted by COVID-19 utilizing CARES Act Funding. This program aims to provide funding to help fixed operating costs for small businesses that have seen a dramatic drop in revenue as a result of the pandemic. Small Business Support Grant applications are now being accepted until January 17 to assist businesses with fixed monthly expenses such as rent, utilities, the cost of perishable goods lost, and deferred maintenance on fixed assets.
The program has been allocated $200,000 to assist as many businesses as possible. Funding requests should equal three months’ rent or mortgage payments, three months’ utility payments (water, sewer, electric, gas, phone/internet), 20% cost of perishable goods/food for three months, $500/month for maintenance costs. The amount requested should not exceed the sum of these expenses or $15,000, whichever is less.
“The Enid Regional Development Alliance is grateful for the partnership with the City of Enid to assist our small businesses who have been affected by the COVID-19 pandemic”, said Lisa Powell, ERDA Executive Director. “While we know this is not going to make any business ‘whole’, we hope that it provides enough support to get them through these next few months.”
“The COVID-19 Pandemic has been devastating and affected every business. This grant will help our local businesses who lost revenue because of unreimbursed costs incurred during closures and reductions. I’m excited that we are assisting the business owners that are our family and friends so that they can continue to serve our community,” said Mayor George Pankonin.
To qualify for the grant, applicants must meet the following criteria:
- Business is physically located within the city limits of Enid, Oklahoma.
- Nonprofit businesses are not eligible.
- Business must have been in operation by January 1, 2019.
- Businesses who do 100% of their sales online are not eligible. The majority of sales must come from in-person transactions.
- Sales/Revenue March-December 2020 must be down at least 30% over the same period last year.
- The business should employ a minimum of 2 FTE and not more than 25 FTE– 1099 contractors will not be counted as employees.
- Companies will be required to sign an affidavit asserting that any monies received will be used as outlined in the application.
Applications and additional information are available at www.growenid.com/covid-19-resources. Those interested in applying for the grants may turn in an application and supporting documents to the ERDA by 5:00 pm on January 17, 2021, by emailing it to email@example.com or delivering it to the office at 2020 Willow Run, Ste. 100. For more information, contact Debbie Moore at 580.233.4232 or firstname.lastname@example.org.