County to offer business assistance with CARES funding

19 Jul 2020

Business, Economic Development, Community, Government

The County Board announced a plan to create a business assistance program with at least $400,000 from its CARES Act funding for small businesses in Morrison County. The announcement comes after the county received $4 million in aid and hopes to create a program to utilize the state suggested a minimum of 10% of the total dispersed CARES funding.

While details are yet to be confirmed over the next couple weeks, the basis is a $5,000 maximum request (possibly more depending on circumstance) to pay for any expenses a business incurred directly related to the governor’s orders surrounding the COVID-19 pandemic.

Qualifying businesses will have fewer than 50 employees. The application will ask basic questions confirming a physical business and owner location in Morrison County. If there are business partners, the business must be majority-owned by a resident of the county.

The business must be in good standing with the Secretary of State and Department of Revenue as of March 1, show a proof of tax return, show proof of operating business since December 2019, and submit copies of bills for expenses.

Award determination may be based on answers to the following questions: How has the governor’s order affected your business expenses? How much are you requesting? Have you received funding from another source? If so, what was it used for?

The latter two questions will directly impact if a business qualifies for funding, said Carol Anderson, director of Morrison County Development.

Read the full article here.