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Vernal City wants our valuable small businesses to be aware of 3 grants from the Governor’s Office of Economic Development (GOED). The grants’ purpose is to help small businesses recover from the COVID pandemic. Learn more about these grants at business.utah.gov.
1) Shop In Utah – for businesses with a revenue decline due to the COVID pandemic. We encourage you to apply for this grant. It will benefit the Uintah Basin. Applications start Monday, July 27 on a first ome, first serve basis.
2) Safe in Utah – for businesses with expenses to make their place of work safe and protect from COVID.
3) ComRent – for businesses who lease or rent with losses due to COVID.
Details of each grant are below:
1) Shop in Utah – this COVID relief grant opportunity is for retailers, manufacturers, service-based or education-based organizations, and nonprofits, and more can apply to receive up to the lesser of $50,000 or your organization’s revenue decline. The grant recipient must use 50% of the grant amount for customer incentives and discounts. $25 Million available state-wide on a first come basis.
For example, if your business lost $20,000 in revenue due to COVID-19, you are eligible for a $20,000 grant. Before December 30, 2020, you must offer a discount to your customers with an overall value of at least $10,000. The customer must redeem the incentive prior to June 21, 2021. You can run a promotion, discount your overstocked inventory to help move it faster, or extend additional discount to long time customers or partners. Anything you do to pass the savings on to your customers qualifies you to receive the grant.
• Applications open at 9:00 AM on Monday, July 27, 2020. First come, first serve.
• Max grant amount: $50,000.
• The amount of a grant may not exceed the amount of the business entity’s revenue decline.
2) Safe in Utah – this grant reimburses a business to create safe operations. $5 million available state-wide. The grant will pay for a business’s COVID-19 response that consists of the purchase of personal protective equipment (PPE), implementation of workplace redesigns, additional signage, new technology solutions for distance working, and other items to comply with COVID-19 public health guidelines on safely returning employees to work.
3) ComRent – this grant provides rental relief to Utah small businesses. $40M available state-wide with $30M remaining. The business must be a renter and demonstrate at least a 30% loss of gross monthly revenue after March 1, 2020, as a direct result of the COVID-19 pandemic. An applicant who meets eligibility requirements will receive between 50% and 100% of up to two months of its business lease amount, not to exceed $15,000 for a single location.
Learn more about these grants at business.utah.gov.