JEFFERSON CITY — Starting Wednesday, small businesses in Missouri can apply for emergency grants of up to $50,000 via a new $30 million program through the state’s Department of Economic Development.
The grants through the new Small Business Grant Program are limited to for-profit businesses with fewer than 50 employees. The Missouri Department of Agriculture will administer about $7.5 million of the grant funding pool reserved for family-owned farms. Businesses have until Aug. 31 to apply.
The state will focus awards on industries hit hard by the pandemic such as retail, accommodation, food service and health care, but grants aren’t limited to those industries. DED staff will have discretion over awards and review applications in the order they are submitted.
The Small Business Grant Program is funded with a portion of Missouri’s CARES Act allocation. Missouri has received more than $2 billion in federal aid since the coronavirus outbreak began earlier this year. Officials have spent more than $610 million on items ranging from masks and other medical protective gear to ventilators. Earlier this month, Gov. Mike Parson earmarked $50 million from the state’s CARES Act funding to boost internet access across the state.