Missouri Department of Economic Development announces up to $30 million in grant funds for small businesses
JEFFERSON CITY, Mo. – The Missouri Department of Economic Development (DED) announced a new Small Business Grant Program that could provide up to $30 million for Missouri small businesses. It was designed to provide relief to small businesses and family-owned farms for reimbursement of costs of business interruption caused by required closures due to the COVID-19 public health emergency.
“This virus isn’t going away, and we have to protect both the lives and the livelihoods of Missouri workers, families and children,” Department of Economic Development Director Rob Dixon said. “Thanks to today’s action by the Governor we are not only reinvesting in our economy, but building up the success and safety of our state over the long term.”
This program also factors in $7.5 million for family-owned farms and family farm corporations. Those participating in the production of agricultural crops, livestock or livestock products, poultry or poultry products, dairy products, or horticulture products are eligible for this grant.
“We know that every segment of agriculture has felt the tremendous impact of COVID-19 and will for many years,” Director of Agriculture Chris Chinn said. “We have continuously worked with Governor Parson and my colleagues across state government — including DED and the General Assembly — to provide support for the unmet needs of Missouri’s family-owned farms and ranches.”
Organizations eligible for this grant employ 50 or fewer employees, including the owner(s). Grant amounts are initially limited to $50,000, and organizations applying must incur or have incurred costs due to COVID-19 between March 1, 2020 and November 15, 2020. Applications will consider industry, timely use of funds, and availability of funds.
DED will begin accepting applications for this grant on July 15, 2020. The department is focused on assisting the hardest hit industries including retail trade, accommodation, food service, and health care, in addition to family-owned farms. However, this grant is not limited to these industries.
For more information about this program and more, visit ShowMeStrong.mo.gov.