Boise’s small businesses feeling the squeeze from COVID-19 will have another avenue for assistance.
This week, the City of Boise announced it will use $1.5 million of CARES Act funding allocated by Governor Brad Little’s Coronavirus Financial Advisory Committee to launch its Municipal Small Business Grant Program. The program, launched today, will allocate funds to businesses on a first-come, first-serve basis up to a maximum of $15,000.
“The COVID-19 pandemic has had a profound impact on our entire business community, especially small businesses. As we’ve continued to navigate the effects of the virus, our small business community has been instrumental in collaborating on the current and long-term needs for the path to recovery,” the city’s press release said. “And, in continued work of mapping out recovery together, the City of Boise remains committed to providing available resources to those in our community affected by the pandemic.”
However, the funds cannot be used for just anything. Businesses must have 100 employees or less and use the grant for any expenditures due to COVID-19 that were not accounted for in the businesses’ operating budget as of March 17. The grant must be used for expenses incurred between June 20 and Dec. 30 of this year and were not previously reimbursed by other federal and state programs, including the Paycheck Protection Program or insurance. Previous funds from federal, state, PPP or insurance programs will be deducted from the $15,000.
Full details of the program, including a link to the application can be found at: www.cityofboise.org/smallbusinessgrant