By JAN LARSON McLAUGHLIN
BG Independent News
COVID has been tough on small businesses. Many had to shut down earlier this spring. Many lost customers who stayed home rather than venturing out. And many had to spend money on safety measures once they reopened.
So the Wood County Commissioners voted Thursday to use up to $250,000 in federal CARES Act funds for the Wood County Small Business Relief Program.
The new program will provide eligible small businesses with up to $5,000 to cover expenses caused by interruption to their business by the COVID-19 pandemic.
Wade Gottschalk, director of the Wood County Office of Economic Development Commission, will administer the program.
“It’s not going to save them,” but the grants can help some businesses through the pandemic, Gottschalk said to the commissioners.
“I think this is part of what the CARES Act was intended to do,” he said.
“Lots of businesses were hurting, are hurting. Any assistance will be helpful,” Gottschalk said.
To qualify, businesses must have 30 or fewer employees, must have less than $1 million in gross annual revenue, and must have experienced a decrease in gross revenue of 25% or more due to COVID-19. They cannot have already received federal assistance due to COVID.
Eligible expenses include mortgage costs, rent or lease costs, utilities expenses, salaries or wages and compensation paid to employees, materials and supplies related to the interruption of business due to COVID, and personal protective equipment costs.
Expenses that do not qualify include the cost of vehicles or equipment leased or purchased after March 23, personal or non-business expenses of the business or its owners, construction costs, or any government tax or license or fee.
Not all small businesses qualify for the funding. Ineligible businesses include adult entertainment establishments; banks, savings and loans, or credit unions; e-commerce only companies; liquor or wine stores; vaping stores; tobacco stores; cannabis dispensaries; franchised businesses not locally owned and independently operated; clubs or service organizations; and places of worship or non-profits.
Business owners can obtain application materials from the Wood County Office of Economic Development’s website at woodcountyedc.com. Applications will be accepted from 8:30 a.m. Monday, Aug. 3, through 4:30 p.m. Friday, Aug. 14.
Applications received will be drawn randomly for review, rather than on a first-come-first-served basis.
On June 23, the Wood County Auditor received $4.16 million in federal CARES Act funding for distribution to local cities, villages, townships, and the county. Through this distribution, Wood County government received $1.34 million that can be used to offset costs related to the COVID-19 pandemic.
