6.1 C

The City of Davenport Economic Development staff is awarding additional assistance to qualified small businesses that have been negatively impacted by COVID-19

Davenport, IA – According to the statement, the Small Business Resiliency Project opened up a second round of funding on March 15 with the addition of the new MicroEnterprise Resiliency Project. Both Resiliency projects are funded by CARES funding through the Community Development Block Grant program.

The Economic Development staff awarded 31 Small Business Resiliency Project applications in the first round.

In the second round, qualifying businesses will be eligible to receive up to a $20,000 forgivable loan that can be used for rent/mortgage, salaries and wages, and operational expenses.

Businesses must have been operational as of March 31, 2020 and have 50 or fewer full-time equivalent employees.

Microenterprises are able to apply for the Small Business Resiliency Project grant, but they must be able to meet all of the application requirements. Applicants are only allowed to apply for one of the programs.

Latest Articles