The COVID-19 pandemic has caused a lot of havoc all over the world, and it seems that the economy is continuing to stagnate. Small businesses have been particularly affected because not only are many seeing lower sales, but many small businesses do not have the cash on hand to be able to weather the storm of this pandemic.
There have been several programs set out to help these businesses to be able to recover and remain open, like the Payment Protection Program. However, there have been issues with the actual funding of these programs, which can hopefully be addressed in future bills. There have also been funds awarded to towns, counties, and jurisdictions so that those locations can better help their residents to weather this storm. And in the Town of Sharon in Farell, Pennsylvania, the majority of the funds they have been awarded will go towards helping small businesses during this crisis.
The Township of Sharon is set to receive $347,520 as an initial round of funding as part of the CARES act, though there does not seem to be a set time of arrival for those funds. These funds are being awarded as part of the U.S Department of Housing and Urban Development, as well as Community Block Grants program; these grants total $170.65 million in funding as a result of the passing of the CARES act to aid those affected by the COVID-19 pandemic.
Director of Community Development, Melissa Phillips, has said that the Town’s top priority with this funding is aiding small businesses, starting by reaching out to those small businesses and finding out what they actually need during this time. Phillips said that the city already has a plan for how the actual funding will be allocated once the money is actually awarded.
As to the actual funding, Phillips is recommending that each business needs help should receive a grant for $10,000, because as she says:
“Some businesses may just need $2,500 for rent and to keep the lights on.”
Phillips also says that her priority is to ensure that small businesses know that this funding is an option and that her department is going to work to help as many small businesses as possible.
Phillips says that once funding comes in, the Town will move very quickly to help these struggling businesses.
The rest of the funding will go towards helping individual residents in the area, especially those who are experiencing food shortages and require food assistance.
GrantWatch is committed to helping ensure that nonprofits have the proper information about grants that have been made available as a result of the COVID-19 pandemic, and our team is consistently updating this list to reflect any updates available.