erienewsnow.com 14 Jan, 2022 00:30 am

Erie Businesses Can Soon Apply for American Rescue Plan Funding - Erie News Now

Erie Businesses Can Soon Apply for American Rescue Plan Funding - Erie News Now
Starting next week, $9.6 million in American Rescue Plan funding will be available for businesses hit hardest by the pandemic.

“We really want to use this money in a transformational way here in Erie According to Erie Business Development Officer Jennifer Hoffman, funding is split up into the following different categories: $1 million for Small Business Technical Assistance $1 million for Small Business Diversity Loans & Grants $1 million for Flagship & Commodore Funds $500,000 for Restaurant & Entertainment Industry Relief $2.5 million for Community Development Projects $2 million for Business Refinance & Restructure Programs $2 million for residential construction projects of five or more units Eligible businesses must meet the following qualifications: Must be located in the City of Erie Have no more than 500 employees Prove that they lost income due to COVID-19 or that they served those who were negatively impacted by the pandemic Be current on all local, state, federal taxes Not owe any fees, liens, fines, or funds to the city Hoffman says she expects the Restaurant & Entertainment Industry Relief to see the most applications.Struggling businesses in the city of Erie can soon receive some financial help.“It’s amazingly important to prop up our businesses in town,” said Hoffman.

“So many have struggled, but so many have very valiantly been able to keep their doors open and this community has really supported a lot of small businesses in town as well.“This is really going to help people who were impacted by COVID-19 and we're trying to structure it so it helps people for generations to come,” said Erie Mayor Joe Schember.

Read full story at erienewsnow.com