Guilford County is having a great deal of trouble giving away federal money to local businesses so it is now revamping that effort.
The county was given nearly $94 million by the federal government to address problems created by the coronavirus pandemic, and it’s using a lot of that money to help struggling businesses. However, on Tuesday, July 21, the county announced that the grant hotline and application site is being temporarily suspended in light of a coming expansion of the program.
The grant offering, that’s meant to help small businesses weather the pandemic and the economic shutdown, is being “expanded and relaunched.”
It will start up again in early August.
The board has discussed changes meant to liberalize the requirements, such as increasing the number of employees a business can have and still qualify for the funds. County officials are urging local business owners to keep an eye on the county’s website – www.guilfordcountync.gov – for further details regarding the program’s expansion.
The county’s July 21 press release announcing the changes, offered comments from Chairman of the Guilford County Board of Commissioners Jeff Phillips.
“These much-needed funds are intended to help many of our small businesses who have experienced serious financial loss during these unprecedented times,” Phillips stated in the press release. “It has always been our board’s goal to provide temporary financial relief to those most impacted by the pandemic. We are constantly striving to be responsive to our business community and those hardest hit by this global health crisis. This brief pause in the program will allow us to re-launch an expansion that we anticipate will enhance the opportunity for more of our small businesses to benefit.”
He added that he was very proud the county is able to provide the grants to local businesses that have been hurt in the pandemic.
“Small businesses are the lifeblood of our local economy,” Phillips said, “and these funds provide critically needed financial support to help offset significant losses during the pandemic. We are committed to continually improving the process to maximize the number of applicants who can benefit from this grant program.”