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Small businesses get first crack at CARES Act funds


CONTRIBUTED/PIXABAY
Posted: Jul. 14, 2020 11:01 am

PALMYRA, Mo. | The process of putting to work $3.3 million in federal Coronavirus Aid, Relief, and Economic Security (CARES) Act money has begun in Marion County. Small businesses, which feature 30 or fewer full-time equivalent employees, are being given the first opportunity to secure funds, according to Marion County Coordinator Teya Stice.

Information on eligibility can be found on the Marion County website, www.marioncountymo.com, where a special CARES Act tab has been added.

“I believe that everything is on the website that people need to know,” Stice said concerning the CARES Act application process.

There has already been some interest expressed in receiving funding by a few eligible small businesses.

“We just started taking applications as of July 1, so we only have two or three,” Stice said.

Stice does not believe that small business owners will find the application process burdensome.

“The application is not time-consuming, but getting together supporting documentation, such as receipts, invoices, canceled checks, etc. may be depending on the amount they have,” she said.

According to Stice, how much money is dispersed and to whom will be determined by the Marion County commissioners.

Thus far no cash cap has been set regarding how much any single small business can receive.

“It is up to the discretion of the county commissioners,” Stice said.

There is a cap of $1,375,639 on the amount that will go to businesses in the first round of funding. In contrast, $800,000 has been designated for public entities in the opening round.

A specific deadline to file for funds has not been set.

“The first round of funding will continue until funds are exhausted or the Marion County Commission declares round one closed,” Stice said.

Applications may be delivered to Stice’s office in the county’s courthouse in Palmyra or mailed to: Marion County coordinator, 100 South Main St., Ste. 4, Palmyra, MO 63461. Applications will then be sent to the Mark Twain Regional Council of Governments for review to make sure all the information is correct and adequate, according to what was requested. Once the MTRCG’s review is completed the applications will be sent to the county commission for a final review before dispersing any funds.

Thus far the only CARES Act funds spent have been by the county for sanitary supplies such as masks, air purifiers and sanitizers.

“No money has been given to public entities or businesses yet,” Stice said.

The county announced previously that any CARES Act money that has not been distributed by Dec. 31, 2020, must be returned to the federal government.

 

 

 

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