Starting June 8, small businesses are able to apply for the Kenosha COVID-19 Small Business Recovery Fund.
The fund is an emergency grant program, being administered by the Kenosha Area Business Alliance, to assist small businesses that have been adversely impacted by the state’s Safer-At-Home order aimed at limiting the spread of the COVID-19 virus. The $600,000 in funds was contributed by the City of Kenosha and Snap-on, Inc.
For-profit companies located in the City of Kenosha with 20 or fewer employees who meet the eligibility requirements are able to apply for the grant fund. The funds can be used for paying rent, purchasing inventory and paying salaries. Grant funds cannot be used for expenses that were previously paid for by another emergency assistance program.
The maximum grant amount is $15,000. Some funding is earmarked for businesses within Tax Incremental Financing District 4, which includes downtown. Funds do not have to be repaid as long as the business remains open and retains the job created for at least one year. In addition, if some businesses need more than $15,000, they may apply for an interest-free loan up to $15,000. Loans must be repaid over 48 months, with payments beginning one year after the loan originates.
The grant application window is June 8-12. KABA anticipates announcing the grant recipients the week of June 29.
For more information or to apply for a grant, please this link.
Any questions should be directed to [email protected].
A full press release is available here.