As you know by now the Mississippi legislature came to an agreement on Wednesday to create a grant program for small businesses impacted by the coronavirus pandemic. This program allocates $300 million of the federally allocated $1.25 billion from the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to be split into two programs: (Information provided by MEC)
- $60 million to provide $2,000 grants to small businesses that were forced to close in response to the pandemic.
- $240 million will be appropriated for aid to small businesses. Companies that have not received aid from the federal Paycheck Protection Program (PPP) will have first priority. Eligible businesses could receive grants ranging from $1,500 to $25,000.
Please review the linked – Mississippi COVID-19 Relief Payment Fund (DOR) & 2020 COVID-19 Mississippi Business Assistance Act – Back to Business Mississippi Grant Program (MDA) information sheet compiled by Mississippi Economic Council. Here is a link to review the entire bill – SB 2772.
The 2020 COVID-19 Mississippi Business Assistance Act – Back to Business Mississippi Grant Program will be managed through the Mississippi Development Authority. MDA is in the process of finalizing all necessary information for businesses to begin the application process. We know that you will be called upon by the businesses in your community to assist in the grant process. We will send this information out as soon as we receive it from MDA.
Source: Mississippi Economic Development Council