Mayor Jenny Wilson announced that Salt Lake County will be launching a new Small Business Impact Grant (SBIG) program, with the application opening June 16.
The $40 million program, funded through the County’s CARES Act allocation, is intended to aid businesses most severely debilitated during COVID-19. With a maximum award amount of $35,000, the SBIG is expected to benefit at least 1,142 businesses and in-turn keep thousands of residents employed.
“With these funds we have a deep commitment to help a multitude of small businesses in Salt Lake County,” said Mayor Jenny Wilson. “We know businesses have been hampered as COVID-19 has required serious public health measures. They have made huge sacrifices to achieve this goal as a community, and we appreciate the seriousness in which owners have taken employee and customer safety. As part of our economic impact and recovery strategy, we must ensure businesses most directly affected have hope and are supported.”
The program will help Salt Lake County business owners from industries and areas most significantly impacted by COVID-19 county public health order closures. A Salt Lake County Consumer Sentiment Survey deployed in May 2020 showed more than 70% of consumers had not visited businesses like salons, gyms, cultural centers, entertainment venues or dined in at restaurants for 1-2 months due to the spread of COVID-19. Many of these small businesses have not received any financial relief, prompting Salt Lake County to establish SBIG.
Grant amounts will vary based on documented losses and COVID-related expenses. Complete applications from eligible businesses will be processed in the order they are received until the fund is exhausted.
Key SBIG program eligibility requirements include:
• Businesses must be in Salt Lake County
• Businesses must have been operating prior to Jan. 1, 2020
• Businesses must have fewer than 100 employees
• Business must have been directly impacted due to the Public Health Orders; a list of industries eligible is available on slco.org
• Businesses must not have already received financial aid through federal, state, or local COVID-19 programs funded through the CARES Act
hose who have already received loans or grants through the Small Business Administration’s PPP or EIDL, and state COVID-19 Commercial Rental Assistance Program are not eligible at this time, as the County works to ensure the hardest hit that have not yet been helped are able to access business-saving funds.
Salt Lake County will begin accepting applications at 9 a.m. June 16, 2020 at slco.org. The application will be available in English, with direct application support available in Spanish, Chinese, Arabic and Vietnamese. Interested applicants, including non-English speaking business owners, who would like to apply but need assistance, can call (385) 468-4011 to be connected with a partner who will assist in navigating the digital application.
It is critical that Salt Lake County reach the truly small business owners who might feel forgotten, and where a Small Business Impact Grant would make a difference in successfully sustaining a reopening.
Additional grant details can be found at https://slco.org/.
There, businesses can learn which industries are considered eligible as well as what documents will be needed in the application.
Webinars will be conducted to discuss the program and answer any questions from businesses about eligibility and the application process. Times and dates of the webinars will be updated and posted with grant program information online at slco.org as they are confirmed.
“We know the County’s small businesses have endured so many difficulties these past three months as the community navigated the initial impact of this novel virus, and continue to do so today,” Dina Blaes, director of Salt Lake County’s Office of Regional Development, said. “This program will meet some of that immediate need while we collaborate and strategize with partners on additional resources to put in place for long-term economic recovery.”