Mississippi small businesses can start applying for help with COVID-19 costs. Here’s how.
Mississippi Gov. Tate Reeves announced Wednesday that small business owners can start applying this week for the Back to Business grant program.
The application will be available to fill out for the grant program starting at noon Thursday at backtobusinessms.org.
Qualifying businesses with 50 employees or fewer could receive up to $25,000 depending on how many COVID-19 pandemic-related expenses they’ve incurred.
Those expenses include mortgage interest, rent, payroll, utilities and other pandemic-related expenses.
Under the CARES Act, the grant cannot cover lost revenue.
“The pandemic was not just a public health emergency. It plunged our country into the greatest job loss since the Great Depression,” Reeves said. “The economic damage — and the human cost of it — has been incalculable. We need to do everything in our power to take care of our neighbors.”
Small business owners can find a list of eligibility guidelines on the Back to Business Mississippi website.
“(The Mississippi Development Authority’s) top priority has been working diligently to put in motion the new Back to Business Mississippi grant program,” said John Rounsaville, interim director at MDA. “We are happy to announce that MDA began taking applications today to help businesses that suffered economic losses during COVID-19.”
Business qualifications for the grant
▪ Must be a for-profit corporation, limited liability company, a partnership or a sole proprietorship
▪ Was domestic as of March 1, 2020
▪ Is in good standing with the Mississippi Secretary of State, if applicable
▪ Suffered an interruption of business
▪ Has a controlling interest owned by one or more Mississippi residents, whether individual resident citizens or Mississippi domestic business entities
▪ Filed Mississippi taxes for tax year 2018 or 2019, or, for an eligible business formed on or after Jan. 1, 2020, intends to file Mississippi taxes for tax year 2020, unless exempt under Section 27-7-29, Section 27-13-63 or other applicable provision of law
▪ Has customers or employees coming to its physical premises, conducts business on customer premises, or has an owner who is an active participant in the day-to-day operations of the business
▪ Had no more than 50 full-time employees as of March 1, 2020
▪ Is not a subsidiary of a business with more than 50 full-time employees; is not part of a larger business enterprise with more than 50 FTEs and is not owned by a business with more than 50 FTEs
▪ Does not exist for the purpose of advancing partisan political activities, does not directly lobby federal or state officials as provided in Sections 5-8-1 through 5-8-23, and has not employed or otherwise worked with a lobbyist as defined in Section 5-8-3 in any way at any point during 2020
▪ Does not derive income from passive investments without active participation in business operations
This story was originally published June 10, 2020 at 3:02 PM.
