The Missouri Department of Economic Development (DED) announced a new Small Business Grant Program that could provide up to $30 million for Missouri small businesses. It was designed to provide relief to small businesses and family-owned farms for reimbursement of costs of business interruption caused by required closures due to the COVID-19 public health emergency.
This program also factors in $7.5 million for family-owned farms and family farm corporations. Those participating in the production of agricultural crops, livestock or livestock products, poultry or poultry products, dairy products, or horticulture products are eligible for this grant.
Organizations eligible for this grant employ 50 or fewer employees, including the owner(s). Grant amounts are initially limited to $50,000, and organizations applying must incur or have incurred costs due to COVID-19 between March 1, 2020 and November 15, 2020. Applications will consider industry, timely use of funds, and availability of funds.
DED will begin accepting applications for this grant on July 15, 2020. The department is focused on assisting the hardest hit industries including retail trade, accommodation, food service, and health care, in addition to family-owned farms. However, this grant is not limited to these industries.
For more information and instructions to apply, visit https://ded.mo.gov/content/small-business-grant-program. Please reach out to your counselor for additional assistance.