City of Edmonds announces launch of COVID-19 small business grant program; expansion of housing relief funds

Starting Monday, July 6, the City of Edmonds is offering grants of up to $10,000 to small businesses in Edmonds, plus second round of grants to lower-income residents impacted by the COVID-19 outbreak.

The Edmonds Cares Fund, approved by the Edmonds City Council June 23, is directed at those impacted by the COVID-19 economic crisis. The fund includes a grant pool of $700,000 for business support, and $300,000 for lower-income residents, with grants of up to $1,500 available.

“I appreciate the city council working with my administration to successfully create the Edmonds Cares Fund that allocates federal funds to those most impacted in our community,” stated Mayor Nelson.

Monday marks the start of a two-week application period for Edmonds Business Support Grants. The program will offer up to a$10,000 forgivable loan to businesses that meet the following eligibility criteria:

  • Businesses with zero to 30 employees (part-time and full-time combined)
  • In business in Edmonds for at least one year as of April 1, 2020
  • Demonstrated year-over-year business/revenue loss of at least 30% in April or May 2020
  • Declared intent and expectation to remain in business at least four months after receipt of the grant

The forgivable loans will become grants to awarded establishments after four months if still in business.

Because the city expects that grant applicants may likely outstrip the number of grants able to be awarded, there will also be selection criteria employed to identify awardees.

Particular consideration will be given to:

  • Businesses owned by people of color, women, veterans and other minorities
  • Businesses that have received no or lower levels of other grant monies from local, county, state, and/or federal programs
  • Businesses that have suffered relatively greater business/revenue losses
  • Geographic distribution across Edmonds
  • Businesses in the creative sector within the Edmonds Creative District

“The wide variety of businesses in Edmonds provide valuable local jobs and contribute to the great quality of life we’ve come to know and love,” Nelson said. “It is essential to help keep our local businesses afloat as we recover from the unprecedented economic crisis brought on by the COVID-19 pandemic.”

Business owners interested in applying for a Business Support Grant may access the online application portal here.  Applications may be submitted until 5 p.m. July 20, 2020.

For residents, the City of Edmonds is offering a second round of Housing and Supplementary Relief Fund grants — added to an earlier city council-created $100,000 housing and supplemental relief program. Up to $1,000 is available to individuals and/or households of up to two members who meet the income criteria. Grants of up to $1,500 are available to households of three or more members who meet the income criteria. Applications may be submitted through July 18 at the following web portal: https://wellspringfs.org/edmonds

Grant awards to individuals and households who applied in June are being made in early July. This second grant round will disburse funds in early August.  The city may open a third round of grants in August with disbursement of funds in early September.

A third Snohomish County-based agency, yet to be selected, will join Washington Kids in Transition and Wellspring Family Services to administer the expanded grant program.

Individuals and/or households are eligible if they earn no more than 60 percent of the Snohomish County Median Income and are in need of assistance with housing and/or household expenses, which includes food, medical care, car repair, rent, and mortgages.

Annual income limits include:

  • 5-person household: $67,262
  • 4-person household: $62,280
  • 3-person household: $56,052
  • 2-person household: $49,824
  • 1-person household: $43,596

Applications are open until 5 p.m. July 18, 2020.

Wellspring has developed a way to increase the impact of the housing relief program by setting up a fundraising platform that allows people to make a charitable, tax-deductible donation. This online platform may be found at give.wellspringfs.org/edmonds.

 

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