Missouri Department of Economic Development Announces Up To $30 Million In Grant Funds For Small Businesses
The program aims to assist small businesses and family farms impacted by COVID-19.
Missouri’s New Small Business Grant Program
The Missouri Department of Economic Development (DED) has announced a new small business grant program that could provide up to $30 million to Missouri small businesses. The program provides relief to small businesses and family-owned farms for reimbursement of costs of business interruption caused by required closures due to COVID-19.
“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.”
Small Business Grant Eligibility
Organizations eligible for this grant must have 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. Applications will close on August 31, 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, the grants are not limited to these industries.
Find more information about eligibility and how to apply online.
Download the Small Business Grant Program Guidelines.
Assisting Agriculture Businesses
This program also factors in $7.5 million for family-owned farms and family farm corporations. Those producing 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.”
Get Help With Your Small Business Grant Application
Our team is here to support small business owners responding to the impacts of COVID-19. Business consultants with the Missouri Small Business Development Center at Missouri State University are available to offer no-cost, confidential services and assistance with these grant applications.
Book your meeting with a member of the SBDC consultant team today.