September 9th, Governor Kristi Noem announced a proposal on how $400 million in Coronavirus Relief Funds will be helping small businesses across South Dakota. The aim is to help businesses that the COVID-19 pandemic have impacted most.
In this proposal, small business in South Dakota with a gross income of $50,000 in 2019 and can show a 25% decrease in business from March to May due to COVID-19 would qualify for the grant.
The press release says the applications would open on October 12th and run through October 23rd. Once all applications were received, funds would be distributed accordingly. It also states, if there were additional funds available after the first round was allocated, officials would consider a second round of grants.
The proposal says businesses could qualify for up to a $100,000 grant. If you are interested in seeing if your business would qualify for this grant, they have put out some proposed guidelines, which you can find by clicking here.
For more information on how South Dakota is handling the COVID-19 pandemic, you can check out the COVID in South Dakota website.
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