Companies Can Receive Up To $15K In Free Aid
More Covid-19 help is on the way for local companies. You can apply for Whatcom REstart grants designed to help recover from economic injury due to the pandemic. The county-wide initiative will issue up to $2.6 million in grants to help businesses with 25 or fewer employees. As well, a separate fund of $800,000 is earmarked just for licensed childcare operators. But don’t delay – eligible businesses must apply for the grants by July 31. These are competitive grants (based on need and value to the community), rather than first-come, first-serve.
The grants – up to $15,000 each – are designed to cover various operating costs. These can include such things as payroll, and safety modifications made necessary by the pandemic, among others. If you’ve already received a Paycheck Protection Program (PPP) loan or an Economic Injury Disaster Loan (EIDL), you can still apply, but any REstart grant you receive must be used for different expenses. Officials will be looking at closures and/or economic injuries of 25 percent or more compared to last year. Your trusty accountant can help you supply the numbers you need.
And good news if you’re a sole proprietor. If you weren’t able to get a PPP loan or EIDL, you may stand a better chance of qualifying for a REstart grant.
Whatcom REstart grants are a combined effort of Whatcom County and the cities of Bellingham, Lynden, Ferndale, Sumas, Everson, Nooksack and Blaine. Officials in each specific locality will be evaluating applications from their own particular area.
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