Small businesses in Missouri to receive millions in grant funds through new program

The Missouri Department of Economic Development (DED) announced a new Small Business Grant Program that could provide up to $30 million for Missouri small businesses, according to a Tuesday news release from the Missouri Department of Economic Development.

Designed to provide relief to small businesses and family-owned farms, the program will provide 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 in the release.

The program also factors in $7.5 million for family-owned farms and family farm corporations, according to the release. Those participating in the production of agricultural crops, livestock or livestock products, poultry or poultry products, dairy products, or horticulture products are eligible for this grant.

Organizations eligible for this grant employ 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.

Applications for this grant will be accepted beginning July 15, 2020, according to the Missouri Department of Economic Development website.