Local Businesses to Receive Further CARES Act Funding
The City of Columbia and Boone County are pairing up for another extension of the CARES Act.
A lump sum of $495,000 will be given to any local business that applies and meets the qualifications. Management of the funds will be provided by the City of Columbia Housing Programs Division.
For businesses with 49 employees or fewer, grants reaching upwards of $10,000 will be given to any businesses that apply. In order to meet the criteria for this new extension of the CARES act, 51% of a respected business must be owned in Boone County.
Randall Cole, Housing Programs Manager, said that this grant could be imperative for small businesses.
“It could mean for many for these businesses hanging on until we are in a different world; to going out of business. So, I think it will be a really good impact on helping save small businesses here locally, as well as jobs” said Cole.
There will be an information session held tomorrow about the administration of the funds and Registration is required. Cole said that 78 businesses have already signed up.
Joshua Williams, owner of Papadoo’s Soul Food, has had to make serious adaptations this year.
“Oh man, it affects everything. Once corona hit, it slowed all of our business down tremendously,” said Williams.
He said that his business usually took in large amounts of business from catering to large events and serving customers in-store.Williams will be applying for funding.
Applications are anticipated to open between December 3 and 4.