GRAND RAPIDS, Mich. — 721 grant checks totaling $5.9 million have been mailed to small businesses throughout Kent County in the first round of Small Business Recovery Program grants, the county and the Grand Rapids Chamber of Commerce announced Tuesday.
The grants range from $5,000 to $20,000.
So far, the program has received 2,112 applications and 1,318 businesses have qualified.
The Kent County Board of Commissioners approved a plan in June to disperse $25 million in federal CARES Act funding through grants and technical assistance.
Technical assistance provided includes cost-cutting measures, six-month cashflow projection, analysis with a business consultant, creditor recommendation review and connection to other resources.
“Our small businesses are struggling through no fault of their own as a result of the pandemic,” Kent County Board of Commissioners Chair Mandy Bolter said. “We worked quickly to get aid into their hands to help keep the economy moving and protect the jobs of our friends, families and neighbors. While we have more work to do, I’m thankful for the efforts of my fellow commissioners, business groups, community members and county staff who successfully implemented the first round of grants.”
Of the businesses receiving grants, 36.6 percent are white/Caucasian, 12.9 percent Hispanic/Latino, 21.4 percent Black/African American, 13.3 percent Asian, 1.4 percent Middle Eastern, 8 percent multiracial and .2 percent Native American.
Grant funding is still available for businesses that have lost income because of the coronavirus pandemic. Businesses may apply here.
