Cold Spring Council Approves CARES Act Grant Program
COLD SPRING – The Cold Spring City Council Monday approved a grant program to distribute CARES Act funding to area businesses.
The grants, which will be administered by the council and the Cold Spring Economic Development Authority, are meant to support businesses as they work to recover amid the ongoing COVID-19 pandemic.
Eligible businesses are those that have faced mandated closures or have been deemed non-essential by the State of Minnesota. Grant funds can be used for inventory costs, fixed debts, payroll costs, utility payments, property taxes, accounts payable, and other business-related expenses.
The grants are not meant to cover costs related to agriculture, machinery, moving expenses, or land acquisition.
Businesses are eligible for between $500-$7,500, and recipients must use the funds within three months.
Applications will be accepted until August 28th. The funds will be distributed to businesses by the end of September. To apply for the grant program, visit this website.
To learn more about the CARES Act Small Business Relief Program, visit the Stearns County website.