DCEO is making $250 million available for small businesses across the state experiencing significant losses due to COVID-19.
Funding available:
$250 million to small businesses across the state that experienced losses in 2020 due to COVID-19, including the following set-asides.
$100 million – Businesses located in Disproportionately Impacted Areas (DIAs). (See DIA Map below)
$30 million – Arts and Entertainment businesses that didn’t receive Shuttered Venue Operators grants
$25 million – Restaurants and taverns that didn’t receive the Restaurant Revitalization Fund
$25 million – Hotels
$25 million – Businesses that didn’t receive a BIG grant due to exhaustion of funds
Grants will range from $5,000 to $150,000 per business and can be used to cover a wide range of operations/staff/overhead costs
Up to $250,000 for hotels
Eligibility requirements:
Businesses with revenues of $20 million or less in 2019 and a reduction in revenue in 2020 due to COVID-19
$35 million or less for hotels
Priority will be given to the following categories:
Hard-hit industries (see eligibility guidelines for a full list of priority industries and their definitions)
Hard-hit areas – DIAs comprising of 176 zip codes
Businesses who have yet to qualify for state funding or federal assistance (including the Paycheck Protection Program (PPP), Restaurant Revitalization Fund (RRF), business Interruption Grant (BIG), Shuttered Venue Operators Grant (SVOG), and more)
Businesses that had less than $5 million in revenue in 2019
