Grant program for PPEs for businesses
PRESCOTT – Business owners, write down this website: www.arkansasedc.com/covid, it could be one of the most important a business needs.
Wednesday afternoon Michael Preston, executive director of the Arkansas Economic Development Commission (AEDC), held a phone conference to announce a new grant for businesses so they can purchase personal protective equipment (PPE) and get back to work. The grant, entitled Arkansas Ready for Business Grant Program, allows businesses to apply for a grant up to $1,000 for each full-time employee as of March 1, when things basically shut down in the state. Overall, Preston said $15 million will be used from CARES money to fund the grant. Businesses can apply for up to $100,000.
The program is on a first come, first served basis. Preston said once applications are received, approval could be made and announced by May 11. The idea, he said, is to see businesses open again. The AEDC wants to give businesses access to funding so they can safely open and operate, while bringing confidence to their customers. The money can also be used to reconfigure the manufacturing process to follow social distancing guidelines, and to help beauty salons separate chairs by the requisite six-feet. “This came together quick.”
Clint O’Neil, executive vice president of Global Business, pointed out the amount available for businesses is based on the number of full-time employees they had as of March 1, though the first case of COVID-19 wasn’t seen in the state until March 11. This of for employees who receive W-2 tax forms, not those who get 1099 forms, as those are separate. O’Neil said 1099 employees can apply on their own. Expenses for businesses can be backdated to March 1 as well.
He described full-time employees as those who work 30 or more hours a week, while part-timers are those who work up to 29 hours a week. He added, two part-time employees equal one full-timer. Those businesses applying will need to furnish a driver’s license, W-9 form, voided check, certificate of good standing with the Secretary of State’s Office or tax returns with the business name on it. The process is simple, he said, and screen shots are all right to use. Once the applications are reviewed, the state will contact the businesses within 10 business day.
The website will go live at 5 p.m. Wednesday, if the funding is approved by the CARES program.
These grant funds are available to all businesses, including non-profits, with the only exception being government-owned entities. Preston said owners, under this program, can be counted as employees. However, the grant money can only be used for PPE and no-contact thermometers for employees and customers, no-contact point of sale payment equipment, supplies and disinfectants to initially deep clean premises and for use on an ongoing basis. The funds can be used to hire a third-party to perform periodic deep cleaning services, hand sanitizer stations, restocking of necessary supplies/raw materials, expenses associated with reconfiguring business to meet recommended and safety guidelines, signage, marketing and other one-time expenses associated with reopening or resuming normal operations.
Eligible expenditures must be made between March 1 and Dec. 31, 2020. Businesses will only be required to verify funds were used for eligible expenditures and may be required to repay all or part of the grant if found not to be in compliance with grant requirements.
For more information, call Mary Godwin, executive director of the Prescott-Nevada County Economic Development Office, at 870-703-4912.