Federal CARES Act dollars flowed to 45 Meeker County businesses during the past few months, with the county distributing more than $1 million in assistance to both businesses and nonprofits.
Those figures were shared in a news release distributed at the Litchfield City Council meeting Dec.7.
The program, whose funding was created by congressional action, wound up distributing 55 grants to 45 businesses that totaled $773,135. Thirty-four non-profit organizations also received grants.
Distribution of funds went countywide, with businesses in six cities and eight townships receiving funds.
Litchfield participated with Meeker County and other municipalities and townships in the county to create an assistance program for businesses and nonprofits that were negatively impacted by COVID-19. The businesses and organizations submitted applications for assistance, with Meeker County Economic Development Authority reviewing business applications and a CARES Committee reviewing requests from nonprofit organizations.
The county received 74 applications, and five were determined to be ineligible for the program either because they were located outside the county, did not meet criteria, or were not in business until 2020 and were unable to show financial impact a one-year financial impact.
That left 69 applications for review. Four requests were incomplete and did not provide required documentation and were dismissed. Another 10 businesses received no award, because it was determined they did not suffer losses once other federal or state assistance was considered.
Of the 45 businesses receiving grants, 21 were located in Litchfield and received $299,250 in assistance. Those businesses employ 70 people, according to the news release.
Countywide, businesses receiving assistance — who employ a total of 156 people — received an average grant of $17,180. Grants ranged from $550 to $50,000.
And as the county’s CARES Act goals stipulated, it was truly small businesses that benefited, with number employees among businesses receiving grants ranged from one to 17, and the average being three employees.
Application details from the businesses showed they experienced a revenue decline of about $4.5 million and a loss of profit of $2.6 million between 2019 and 2020 in designated reporting periods of March through July or March through October.
Some of the businesses also took advantage of $1.2 million in other assistance, such as the Paycheck Protection Program, Economic Injury Disaster Loan Grant Advance, and State Business Relief Grant. That assistance was considered when determining CARES Act fund distribution, the county said.
Nonprofit help
The county also received 40 applications for CARES funds from nonprofits, and through various considerations, the news release said, grants were distributed to 34 organizations.
Those groups employ 181 people, with total employment ranging from one to 149 people. Grant awards ranged from $340 to $50,000, with the average nonprofit receiving $7,480.
The selected applicants experienced a loss of $1.1 million in revenue and more than $530,000 in profit.
In addition to the CARES funds, the selected applicants received $1.1 million in federal Paycheck Protect Program funds.
