COVID-support funds retain 3,106 jobs, help small businesses survive

COVID-support funds retain 3,106 jobs, help small businesses survive

Staff has also kept up-to-date throughout the pandemic on the U.S. Small Business Administration’s Economic Injury Disaster Loan (EIDL), Paycheck Protection Program (PPP), Alt- Cap loan programs, various private and state grant opportunities and continues to assist businesses in need of funding. The Assistant City Manager has continued to assist startups and businesses expanding utilizing the NetWork Kansas suite of low-interest gap financing options including the E-Community loan program, StartUp KS loan, and the Women & Minority Business Capital Multiplier loan.

• In Leavenworth County, 591 entities, mostly small businesses but also some non-profits, applied for and were awarded PPP low interest – 1% – loans amounting to roughly $18.2 million. Of that figure, $8.87 million went to companies in the City of Leavenworth. Figures show 3,106 jobs were retained through these loans in Leavenworth County, with 1,465 jobs retained in the City of Leavenworth.

• CDBG Forgivable Loan Program: Loans were provided in August by the City through the federal Community Development Block Grant, and were administered according to federal guidelines determined by the U.S. Department of Housing and Urban Development. A business owner was able to qualify if they met federally-set income guidelines, or if 51% of their employees’ household met the guidelines. Businesses also were required to have a physical brick-and-mortar location within the Leavenworth city limits. Maximum loan amounts

between $5,000 to $10,000 were awarded based on the number of employees. Loans approved ($57,500 in total) included local restaurants, hair salons, downtown retail businesses, and auto repair shops.

• Small Business Grant Program: Several businesses decided to take advantage of the City’s Small Business Grant program, which is always available to for-profit businesses to make nonmaintenance related improvements to their business. Several of these grants performed work while their business was closed or had limited hours. The grant program allows for up to $5,000 in matching funds (or $15,000 for multi-tenant properties.) Those approved since March amounted to $42,707.50. The program continues to be available.

• COVID Relief Small Business Grant: Just before Thanksgiving, the City was able to release funds for the COVID-19 Relief Small Business Grant. The COVID-19 Relief Small Business Grant Program is designed to help address the economic hardships that small businesses are experiencing because of the COVID-19 pandemic. The COVID-19 Relief Small Business Grant Program offers Leavenworth small businesses up to a $5,000 for long-time businesses and $2,500 for businesses in operation for less than two years. This is one-time grant to help offset business expenses and/or revenue loss. The Leavenworth City Commission allocated $250,000 for these grants. Applications will be awarded based on demonstrated need.