Small Business Grants Mississippi 2021 – The Paycheck Protection Program (PPP) provides loans to help businesses keep their employees employed during the coronavirus (COVID-19) crisis. The SBA now offers:
To promote access to small lenders and their customers, the SBA currently only accepts loan applications from participating community financial institutions (CFIs). Lender Match can help you find a participating CFI.
Small Business Grants Mississippi 2021
COVID-19 Relief Fund (DFA): $60 million in $2,000 grants to small businesses that have been forced to close in response to the pandemic.
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NOTE: The online process is busy, so if you decide to use the online application, our advice is to prepare everything before applying. Print the forms first and fill them out, so that when you apply online there is less chance of ‘running out’ and having to start over. Gather all of your items listed above and you’re ready to go.
Since this program is busy, it is recommended that you apply during non-working hours, if necessary, i.e. 7:00 p.m. to 7:00 a.m.
If you need additional assistance or have additional questions, please contact the Emergency Customer Service Center at 1-800-659-2955 or, for those who have a talk or listen, call 1-800-877-8339 (Monday through Friday, 8:00 a.m.). morning to 8:00 p.m. EST) or email us at: [email protected]
The CARES Act said the new payday loan program is for businesses with up to 500 employees or the average business size. The chart below outlines the business size standards for small businesses and as you can see many can have over 500 employees to qualify.
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For more information, visit https://www.backtobusinessms.org/ Please note that MDA will never ask for credit card information. There is no application fee
The Mississippi Development Authority is now accepting applications for the Mississippi Business Recovery Grant Program signed by Governor Tate Reeves. The grants will be used to help Mississippi businesses with 50 or fewer employees recover from the economic impact of COVID-19, including operating costs and wages. Mississippi will receive about 6 billion dollars from the US Federal Bailout Act – an amount equal to the annual general budget of the state, and an amount that state leaders can improve Mississippi spent wisely by local governments and managers.
“Obviously this is something that is changing Mississippi,” Hosemann said, adding that state leaders are trying to figure out how much money is coming to the Magnolia State and how to use it. “…That’s a good problem to have. In my mind, part of our program is not just how to implement this in the next three years, but how to make it impact the next five, 10 or more years.
While state and local leaders are still trying to figure out what money will go where, the money includes:
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Millions more will go directly to government agencies like the Department of Health, Mental Health and Human Services — and state leaders are still working to get those funds and information. Hosemann said about $3.4 billion will go to Mississippi residents through stimulus payments, child tax credits, and other unemployment benefits.
Half of the money should arrive by mid-May, the other half within a year. Governments have until 2024 to repeal it.
Unlike previous COVID-19 aid or recovery funding, the money from states in the $1.9 trillion bill passed by Congress has few conditions or guidelines on how it is spent and a much longer time frame of three years to spend. And the rest of the money goes directly to cities, counties, and state agencies and institutions.
“This is probably one of the best arrangements I’ve seen in the aid system in a while – going directly to counties and cities to act quickly instead of any organization or government calling for everyone to be hit,” Gulfport said. Mayor Billy Hewes, president of the Mississippi Association of Municipalities. His city, the state’s second largest with a population of about 72,000, is expected to receive about $18 million from the plan.
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Federal law says local governments can spend money on water, sewer, and internet infrastructure, but the U.S. Treasury Department appears to have broad discretion about spending, and Governor Tate Reeves and other state officials say they are working to get more details. .
Jackson Mayor Chokwe Antar Lumumba did not respond to a request for a breather on the Rescue Act funds. Hewes and other local leaders said cities and counties across the country have major infrastructure and other needs, and “we’re going to do everything we can to enforce that successfully.”
Hewes said the law does not appear to allow local governments to spend money on road infrastructure, which he hopes will be “corrected” by the Treasury. He said some federal and state dollars — including in this package and the latest round of COVID-19 aid — have been allocated to high-speed internet access, and many cities have big needs for it.
“Frankly, we are concerned that roads and streets are not included in this allocation in terms of how they can be used,” said Hewes. “As the president of the municipal association and listening to mayors across the country, there is a general call for the Treasury to expand this definition of infrastructure to include roads, and we don’t understand why that can’t happen. There is no law. .”
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Many mayors and city leaders have been trying this week to gather more information, and in particular to confirm how much money their governments will receive.
Greenwood, a town of about 15,000, is expected to receive about $3 million. Mayor Carolyn McAdams said that’s the number she heard and “hopefully that’s the pot of gold we get.”
“We’re still waiting to hear all the terms,” McAdams said. He said he would like to use some of the money to provide “full raises” to city workers who are “working double duty during this pandemic.” He said he understands that it may not be worth the money and that it is a “one-time” fee that is probably more for projects than ongoing costs.
“Trust me, the towns and cities have a lot of ways to spend that money, the needs are high,” McAdams said. “Currently, we are repairing the streets. It would be nice to make a few more, add some walking paths. We need to upgrade our sewage treatment plant – we have a lot of old infrastructure… our recreational facilities need upgrading… This money will be too much to spend.
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Vicksburg Mayor George Flaggs said the Rescue Act funding for local governments is “great news…and it couldn’t have come at a better time.” His city is expected to receive $4.88 million.
“From what I understand, there won’t be many restrictions, unless it can’t be used to put money back into the budget,” Flags said. “We will see… they may change some things, and we are waiting to see all the regulations.
“I told my board that we need to spend this on one-time costs,” Flags said. “I am a saver and I think that I spend money at the same time for one-time expenses, so that you do not put your budget. Things like buildings or buying things like police cameras that we are trying to get. I hope we can use it. sales, tourism.
Flags said he was happy with the amount allocated to his city, adding that “they have nothing to offer us”. He said he doesn’t know what to use because there are big towns he saw when he got a little money.
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Harrison County Executive Connie Rockco, whose county is slated to receive more than $40 million, said her county leaders have not discussed the money and are waiting for more details.
“They haven’t even said the check is in the mail yet, so we’re hesitant to get excited,” Rockco said. He said he personally would like to find ways to help small businesses in the town that have been affected by the pandemic.
“Mental health, children’s services — there’s a lot of need out there, a lot of things that have been overlooked by the general public,” Rockco said. “In our country, we have an extreme need for fire services, because our city is growing fast, full of explosions. We have all kinds of needs, but we will have to see how they can be used.
In Congress, there was a heated partisan debate about the Rescue Act being pushed by Democratic President Joe Biden, and he faced the party.
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Republican Hewes, a former state legislator and former gubernatorial candidate, said that as mayor he is not focused on the big politics of legislation.
“Going from the state level to the local level, you’re taking a big leap from philosophy or theory to the real thing,” Hewes said. “The road we need to fix in the city is not a red or green road. It’s bitumen, and I need green to fix it, that’s all there is.
“As local leaders, we have contributed (to the Congress)