Local businesses struggling with the pandemic can receive some help from the city government.
Last Monday, April 26, Binghamton Mayor Richard David announced the third round of monetary assistance for small businesses dealing with the negative economic effects of the pandemic. This latest round makes $140,000 available for businesses to use toward rent, utilities and overhead. These grants can also cover expenses incurred by businesses in their attempts to prevent the spread of COVID-19, such as the purchasing of cleaning supplies and physical alterations intended to promote social distancing. David touched on the importance of small businesses to the health of the local economy.
“Small businesses provide the local jobs and services that will fuel our community’s economic comeback and they deserve our support,” David said. “There is still relief funding available to benefit small businesses that have fallen on hard times because of the COVID-19 pandemic and recession.”
Businesses that received assistance in the previous rounds of funding are ineligible for another grant.
This money was made available through the $2 trillion Coronavirus Aid, Relief and Economic Security (CARES) Act. Former President Donald Trump signed the CARES Act into law in March 2020 at the start of the pandemic. On top of provisions to help small businesses, the act expanded unemployment, ensured free COVID-19 testing and vaccinations and provided direct payments to Americans — colloquially known as “stimulus checks.”
The deadline for Binghamton businesses to submit applications for funding is May 19 at 4 p.m. To request an application, an email can be sent to firstname.lastname@example.org. For more information on the program, click here.