Local grants provide lifeline to small businesses

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Since the start of the pandemic, I’ve included a list of resources toward the bottom of this newsletter, comprised mainly of local grant and loan programs from counties and towns in all corners of the United States. Turns out, those grant programs have been critical to keeping small businesses in those communities afloat.

Most of these grants range from $5,000 to $10,000, and they’ve been tailored toward smaller firms with 20 or fewer employees — in other words, those with the fewest resources and the most likely to permanently go under as the economic recovery continues. In total, cities and counties have doled out $5 billion thus far. 

It’s not a completely altruistic strategy. Small businesses power these local communities and the more income they bring in, the better the area as a whole will do.

Have you applied for one of these programs? What else would help your business?

Latest Developments

• Coronavirus cases around the world are climbing, with Spain recording 26,000 new infections and France reporting close to 9,000.
• The biggest hurdle to getting employees back in offices could be trust, not the infection rate, according to the latest Edelman Trust Barometer report that found only half of workers think offices are safe.
• Canada’s government extended its emergency rent relief program until the end of September, giving small business owners an additional month of assistance.
• Small firms that had to quickly pivot and set up online stores helped turn software platform Shopify into one of the pandemic’s winners.
• Prepare for consolidation in the oil and gas industry as small producers are forced to sell.
• The U.S. reported a lower unemployment rate of 8.4%, adding 1.4 million jobs in August. However, permanent job losses are on the rise.
• Those in sales, administrative roles or working in higher education and hospitality will likely have the hardest time finding work in their fields.
• Expect interest rates to stay low for years to come after Federal Reserve Chair Jerome Powell said in an interview with NPR that he expects it to take years for the economy to fully recover.

Conversations For You

• Karen Mills, former head of the Small Business Administration, has these three recommendations for helping small businesses survive the pandemic and its economic impact. Read her suggestions and leave a comment on what you make of her proposal here.

Resources

• Alaska Gov. Mike Dunleavy has expanded the state’s small business grant program, allowing firms that received other federal aid like PPP loans to qualify. 
• Businesses in Texas’ Collin County can apply for a grant of up to $25,000 if they have lost 15% of revenue due to the pandemic. 
• Richland County in Ohio has opened a grant program for small businesses that have less than $1.5 million in revenue. Nonprofits do not qualify. 
• Delaware’s small business grant program is accepting applications.
• Washington state’s San Juan County has two grant programs available for small businesses. The first is for a grant of up to $10,000 and applications are due Sept. 10. The second allows businesses to submit costs for reimbursement and applications are due Sept. 20.
• Las Vegas is restarting its grant program. Companies with one to four employees can qualify for $5,000, while those with up to 20 employees could qualify for $10,000. Applications open on Sept. 15 and are due Sept. 29.

Something Good

• This community showed up for its postman’s last day after 36 years with USPS, putting up balloons on mailboxes and surprising him with a socially distant sendoff.