18 May Would YOUR Business Benefit from a Grant of Up To $50,000?
The City of McPherson will be applying for Community Development Block Grant – Corona Virus (CDBG-CV) Funds and the McPherson Chamber wants to assist them in reaching the businesses that could potentially benefit. Please take a moment to learn about who could qualify and then contact City Administrator Nick Gregory, so that he has the data to support the need for the CDBG-CV funds in the City’s grant request.
To qualify, you must have between 1-50 employees that would be retained, and 51% of full-time equivalent employees in total would meet the low-to-moderate (LMI) household income for McPherson County. For McPherson County the household income limits are as follows: Number In Household/LMI Income: (1)/ $40,850; (2)/ $46,650; (3)/ $52,500; (4)/ $58,300; (5)/ $63,000; (6)/ $67,650; (7)/ $72,300; (8)/ $77,000.
The City is considering applying for the maximum amount of $300,000.00 but will have to justify the need. As a result, the City is trying to gauge interest from local business and industry.
Funds can be used for things including but not limited to:
- Working capital such as wages, utilities, rent, etc.
- The purchase of 60 days’ worth of inventory needed to reopen (60 days will begin on the day the business is allowed to reopen).
Grant funds cannot be used to pay off:
- Existing debt
- Expenses that have been specifically reimbursed by other federal funds.
Businesses may be eligible for the following amounts:
- For businesses with 1-5 employees, up to $25,000 per FTE can be awarded, with a maximum funding of $30,000 per company.
- For businesses with 6-50 employees, up to $35,000 per FTE can be awarded, with a maximum funding of $50,000 per company.
Agriculture businesses would be eligible, but churches and schools would not.
As part of the grant, the City will determine how funds will be allocated. If you believe that your business is a strong candidate for this program and that it would help retain employees, please contact City Administrator Nick Gregory at (620)245-2535 or via e-mail at email@example.com by Thursday, May 21st.
You may also visit the Kansas Department of Commerce at www.kansascommerce.gov for more resources.