Community Comes Together to Support Small Businesses
The following press release was provided by the Union County-Marysville Economic Development Partnership:
Thanks to the generosity of the Union County community, 43 local businesses were granted $196,500 in emergency financial assistance through the Union County 3R Small Business Relief Grant Program.
Managed by the Union County Community Improvement Corporation (CIC), the grant program was developed to provide emergency financial assistance to small businesses throughout Union County that experienced economic losses as a result of COVID-19.
“We want to help small businesses get back on their feet and we believe this program will support them as they reopen and find their way in the new normal,” said Terry Emery, Marysville City Manager.
In total, 43 applications were approved for funding. Many of the recipients represent the business sectors that have been hardest hit by the pandemic: 15 recipients are restaurants, 13 are retailers, 12 are service businesses, 2 are hotels, and one is a manufacturer. Geographically, 34 recipients are businesses located in Marysville, 3 in Richwood, and 6 from elsewhere in Union County.
“These are unprecedented times. We know that small businesses are the backbone of America and our communities. We want to help them in any way possible,” said Union County Commissioner Steve Stolte.
Each application was reviewed by an oversight committee consisting of business and community representatives. The committee attempted to meet all requests for funding, but final decisions were contingent upon the degree of financial need, whether the applicant met eligibility requirements, and the availability of funds. Priority was given to businesses that were closed or otherwise experienced limited operations due to COVID-19 and experienced direct, negative impacts that threatened the ability of the business to continue operations long-term as a result.
Businesses can use the funding for lease or mortgage assistance, operational expenses such as advertising and marketing, supplies, maintenance, payroll, and utilities, and unforeseen expenses including the purchase of safety supplies such as masks, hand sanitizer, and other items to help mitigate the spread of COVID-19.
Funding and program support came from the City of Marysville, CoBank, Dyed it Myself, Marysville-Union County Port Authority, Merchants National Bank, Milholland Financial Group, Operation Round Up, Richwood Bank, Steve and Mardy-Hanlon Stolte, Union County Board of Commissioners, Union County Chamber of Commerce, Union County Convention & Visitors Bureau, Union County Foundation, and Union Rural Electric.