Back in September we told you HERE that our City Council had opened up $200,000 in available funds for grants that could be awarded to Boulder City’s small businesses affected by the pandemic.
We’re sad of course that this was needed, but glad to see that the Council was using the funding from the CARES Act to help out our business community.
We checked back in to ask how much of that money was awarded, and we’re able to report that the majority of that money was used! Thirty four grants were awarded, providing a total of $190,000 to those businesses who applied for local relief.
These are grants, (not loans) funded by the federal government that rolled out this fall first to the State of Nevada and then to our City, a total sum of $1.5 million. The funds were awarded in $5,000 and $10,000 available awards, based upon the size of the business.
“The funds that City Council approved from the CARES Act was essential to help small businesses struggling as a result of the COVID-19 pandemic. The City’s goal was to ensure this relief was deployed as quickly as possible as small businesses are crucial to our community, providing jobs for residents along with goods and services.”, says Raffi Festekjian, our Economic Development Coordinator, who was responsible for coordinating the administration and awards of the grants.
So again, we’re well aware of the struggles that our local businesses have faced this year, but we considered this some good news to share, that our local community mostly maxed out what had been made available to them.
Let’s hope soon for brighter days ahead!