Town of Bedford business support program extends grants to include ‘non-essential’ small businesses
The town of Bedford’s Business Support Program is extending grant funds to include small businesses within town limits classified as “nonessential” in a second phase of the town’s local grant program, the town’s Economic Development Authority announced Tuesday.
The first phase of the program limited grant availability to locally owned, non-franchise, brick-and-mortar retail and restaurant businesses to see how much interest the program garnered before expanding fund availability to other local businesses classified as nonessential, such as hair salons.
Twenty-eight applicants fitting the initial parameters in the Town of Bedford received grants up to $5,000 from a pool of $150,000 to help keep their retail or restaurant business afloat amid losses from the coronavirus pandemic.
An additional $150,000 is allotted for the second phase of the business support program, with grants up to $5,000 per business available. All small businesses are now eligible to apply for the grant. Eligible businesses must prove a 50% minimum loss of revenue from coronavirus restrictions, have 10 or fewer employees, may not be part of a franchise, must be a brick-and-mortar location within town limits and hold an active local business license from the town.
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