The available amount of funding this time around adds up to $70 million dollars. Eligibility extends to restaurants and micro-businesses, including nonprofits and home-based businesses with 50 or fewer full-time employees. The number of full-time employees will be the basis for calculating grant awards.
For example, businesses with 5 or fewer full-time employees and sole proprietorships will receive $5000. Those with 6-25 full-time employees will receive $10,000, while those with 36-50 full-timers will receive $15,000. Meanwhile, restaurants are eligible for even greater assistance.
If a restaurant is a sole proprietorship, or employs 5 or fewer full-time employees, it will receive $10,000, while those with 6-25 employees will receive $15,000. The highest amount, $20,000, is reserved for establishments with 26-50 full time employees. To guarantee the maximum amount of funding, grant awards will be calculated according to the peak full-time employee account from a businesses’ past six quarters of WR-30 filings.
If a business already received funding under one of the first two phases, it is still eligible. However, award sizes will be based on any needs unfulfilled by the previous grants. All other eligibility requirements remain basically the same.
Disbursement of funds is expected to occur as quickly as possible once applications are approved. As businesses brace themselves for the winter months, this level of assistance will be essential to their survival.
