Small businesses have until the end of next week to apply for federally-funded loans and grants available from Gwinnett County to help with COVID-19 novel coronavirus relief.
The county announced the deadline for the CARES Act grant and loans will be July 24. The Gwinnett County Small Business Assistance Program is handling $20 million in federal funding, which will be split evenly between grants and loans.
The funding is designed to cover COVID-19-related expenses including deep cleanings of facilities, modifications intended to allow for social distancing, marketing, restocking and paying staff before reopenings.
The Gwinnett Community Development Program will handle the grants, which are capped at $75,000, while Access to Capital for Entrepreneurs Inc. will handle the 36-month loans, which can range from $50,000 to $200,000 with a waiver on the first nine months of principal and interest payments.
The grants are available for Gwinnett-based businesses that have been operating for at least one year and have up to 200 employees.
Meanwhile, the loans are available for businesses that have been in operation for more than two years and have up to 500 employees.
Application information for the grants and loans is available at GwinnettCounty.com.