The Arkansas Department of Parks, Heritage and Tourism (ADPHT), the Arkansas Economic Development Commission (AEDC), and the Arkansas Department of Finance and Administration (DFA) received approval to proceed with a grant program utilizing $50 million in CARES Act funds for Arkansas businesses in industries significantly impacted by the COVID-19 public health emergency.
Last week the Arkansas Legislative Council approved a business interruption grant for certain Arkansas businesses in the personal care, tourism, travel, recreation and hospitality industries. The grant will provide reimbursement for a portion of specific eligible expenses incurred by businesses in these industries between March 1 and Sept. 30, 2020.
The program will utilize $50 million in CARES Act funds for Arkansas businesses in these industries significantly impacted by the COVID-19 public health emergency. Arkansas small businesses having 250, or fewer, full-time employees located in Arkansas may seek reimbursement for expenses associated with COVID-19 mitigation or certain listed business interruption expenses due directly to local, state or federal government COVID-19 directives. Grants can be for up to $250,000 each.
Applicants will have plenty of time to plan an application with a Facebook Live question and answer session the week of Nov. 2 and an applicant help phone line opening on Nov. 9, one week before the application period opens. All applications will be completed online.
A link to the application will be posted on www.ArkansasReady.com.
Review frequently asked questions and answers here: https://arkansasready.com/site/assets/files/1887/faq_document_october_20_2020.pdf
You can find grant rules here: https://arkansasready.com/site/assets/files/1887/oct_14_2020_rules_business_interruption_grant.pdf
View a checklist for applicants here: https://arkansasready.com/site/assets/files/1887/checklist_for_applicants_october_20_2020_final.pdf
The grant application period will open Monday, Nov. 16, and close Wednesday, Nov. 25. Grants will be awarded on a prorated basis depending on the total number of applicants and the amount of reimbursement requested. The program anticipates making grant awards in late December.