When Mississippi’s economy is thriving, it’s because our small businesses are thriving. After having to close or significantly change operations because of COVID-19, we know our small businesses are struggling. This week, the Mississippi Legislature voted to set aside almost a fourth of the relief money sent from the federal government to help our small businesses.
Senate Bill 2772
sets aside $300 million from the Coronavirus Relief Fund to create two programs providing a direct payment to some businesses and a grant to others. The direct payment program would provide qualifying businesses which shut down — including hair stylists, fitness centers, and some restaurants — a $2,000 check. Small businesses, including sole proprietorships, with 50 or less employees can apply for a grant authorizing up to $25,000 for costs incurred as a result of the virus.
Once the legislation is signed by the Governor and becomes law, the executive agencies tasked with administering the programs will send out notice to businesses across the State. We’ll send out notice too so you won’t miss the application deadlines.
Please know how much we appreciate you. These challenges are temporary. Our resolve to make sure our small businesses survive this terrible pandemic is permanent. Stay safe.