Nearly 1,400 small businesses to receive $19 million in financial aid from Erie County


579
579 points

Erie County, New York (WIVB) – Erie County will provide $ 19 million in financial aid to nearly 1,400 small businesses in need.

CEO Mark Poloncars announced the completion of the Back to Business application review process on Monday.

The county says it will notify grant recipients via email, and checks are mailed out starting today.

In coordination with 43North, Erie County announced this grant program in October. Officials say they committed funds from CARES Act funding to provide direct financial assistance to eligible small businesses with 50 or fewer employees.

Erie County officials told News 4 in less than three weeks that the program received 5,022 applications totaling more than $ 95,000,000.

“Our goal was to distribute the money to the companies that need it most, with amounts that would make a tangible impact. I hope this financial waiver will allow the grant recipient to endure this ongoing crisis,” said Erie County Executive Director Mark Bolloncars.

Poloncars announced that a total of 1,366 grants will be disbursed in seven amounts ranging from $ 2,500 to $ 45,000.

The county says nearly 40% of grant recipients have not received any amounts or minuscule amounts from previous coronavirus relief aid, which covers less than 10% of their losses.

Additionally, 33% of award recipients have lost more than half of their annual income, county officials say.

Polloncars say 48% of grants will go to Buffalo and 52% to surrounding suburbs and rural communities. 30% of the beneficiaries are minority-owned enterprises and 60% are women-owned

Grant funds can apply to a range of eligible expenditures, and companies must use the grant by December 30th.


Like it? Share with your friends!

579
579 points

What's Your Reaction?

hate hate
0
hate
confused confused
0
confused
fail fail
0
fail
fun fun
0
fun
geeky geeky
0
geeky
love love
0
love
lol lol
0
lol
omg omg
0
omg
win win
0
win
admin

0 Comments

Your email address will not be published. Required fields are marked *