The State of Idaho announced a $300 million grant program designed for businesses impacted by closures.
The money comes from the US Treasury’s Coronavirus Relief Fund, and the State of Idaho will dole it out.
An individual business can apply for a one-time grant of up to $10,000 each – and the state hopes to use all $30 million to give grants to 30,000 small businesses.
“The ongoing COVID-19 outbreak has forced widespread closures of small businesses across the Gem State, threatening livelihoods, acute job losses, and imperiling the future of local establishments across our state,” the state said in a news release.
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“With this step, we will be able to support more than 30,000 of Idaho’s smallest businesses,” Gov. Brad Little said. “Many of these businesses are the backbones of their communities. No other state is putting up a larger amount from the Coronavirus relief fund to help support small businesses.”
Eligibility criteria is still being determined. Little said businesses who already received a Payroll Protection Program loan wouldn’t be eligible, unless the amount was less than $10,000.
The state hopes to open the application process on May 11th. Businesses can apply online – you can find instructions here.
Many Idaho businesses have been hit hard by required closures under stay at home and other orders from Gov. Brad Little and local officials. The grants are one of a number of tools on the state and federal level to support businesses.