Kings County Supervisor Richard Valle
Written by The Business Journal Staff
Kings County announced the launch of a $5 million funding package to assist small businesses.
At Tuesday’s Board of Supervisors meeting, officials approved the funding to provide support to small businesses with up to $20,000 for eligible Covid-19 operating expenses and to cover future expenses related to the effects shutdown orders have had on small businesses in Kings County.
“In this time of uncertainty, we need to invest into small businesses to help them weather the storm that is sinking their ship,” said Doug Verboon, District 3 supervisor.
Originally the grant was proposed with a $2 million amount, but supervisors voted unanimously at the July 14 meeting to increase the allocation to $5 million.
Businesses eligible for the grant include for-profit and non-profit businesses with 25 full time employees or less. Applicants must demonstrate their businesses was, at a minimum, partially shut down to stay in compliance with executive orders issued by Gov. Gavin Newsom.
Qualified businesses also include restaurants that suspended indoor dining but still offered takeout ordering and also businesses that completely shut down operations.
Businesses would be able to use the funding for payroll and benefit expenses and unemployment insurance costs incurred by the employer if not reimbursed by the federal government, as well as rent or mortgage payments to avoid eviction or foreclosures as a result of the closure orders.
“Our small businesses are dying on the vine,” said District 2 Supervisor Richard Valle. “The time for talking is over. We put our money where our mouth is by providing $5 million to help small businesses with grants that are large enough to provide real help. By saving businesses, we save jobs and give families a fighting chance.”