Edina, Minn., Aug. 13, 2020 – Applications for the City’s second round of grants to small businesses will open 8 a.m. Wednesday, Aug. 19.
“We’re hoping this program will enable and sustain a strong local economy,” said Economic Development Manager Bill Neuendorf. “This program strives to reduce commercial vacancy rates, retain and create employment opportunities, encourage business investment and ensure that residents have access to desired goods and services.”
Money from the federal CARES Act will fund the second round of Edina’s Small Business Emergency Assistance program. Grants up to $10,000 will be awarded to small Edina businesses that are adversely impacted by the COVID-19 pandemic.
To qualify for the program, a small business must:
- Have a physical location in Edina
- Have at least one full-time employees and no more than 50 full-time employees at the Edina location
- Have a maximum annual revenue of $1.5 million at the Edina location
- Have an active operation prior to, or a valid lease as of, Jan. 1, 2020 with planned operations beginning in 2020
Other restrictions apply. Funding is limited. Recipients will randomly be selected until the funds run out. Recipients will be selected the first week of September.
Reimbursable expenses include commercial rent or mortgage payments, payroll, cleaning and related business services, utility payments, replacement of spoiled or stale inventory, purchase and installation of personal protective equipment for staff or customers, and other direct business-related expenses incurred to maintain the viability of the business under the economic conditions related to the COVID-19 pandemic.
To apply, complete the application online at EdinaMN.gov/EmergencyLoans. The deadline to apply is 11:59 p.m. Sunday, Aug. 30.
For more information, visit EdinaMN.gov or contact Neuendorf at 952-826-0407 or bneuendorf@EdinaMN.gov.