Small Businesses impacted by Pandemic in Florida

The City of Port St. Lucie, in partnership with the Florida Small Business Development Center at Indian River State College, launched the COVID-19 Small Business Grant Program to financially support businesses affected by the pandemic. This program serves as a reimbursement grant, providing up to $10,000 for business-related expenses such as mortgage, rent, utilities, insurance, reopening costs, safety measures, and payroll during closures. The initiative is funded by FloridaCommerce through its Community Development Block Grant Coronavirus Program, demonstrating a commitment to economic recovery and stability within the community. The program primarily targets small businesses with 0-50 employees that were in operation before March 1, 2020, and have been impacted by the COVID-19 pandemic. A key focus is on businesses located within qualified low-to-moderate-income Census Tracts (QCTs) or owned by individuals whose household income qualifies as low or moderate. This targeting aligns with a broader mission of supporting vulnerable populations and fostering equitable economic recovery within the city. Prioritization is given to applications from small businesses that have not previously received COVID-19 relief funding, ensuring that support reaches those most in need of assistance. The program aims to mitigate the financial strain caused by the pandemic, allowing businesses to cover essential operating costs and implement necessary safety measures. The emphasis on current tax status and registration with the Florida Division of Corporations underscores a commitment to supporting legitimate and compliant businesses. With a total of $390,000 initially available, and approximately $165,000 remaining after 23 approved applicants as of mid-March, the program has already made a significant impact. Expected outcomes include the sustained operation of small businesses, retention of employment, and a more resilient local economy. By providing direct financial relief, the grant contributes to the overall stability and recovery of Port St. Lucie's small business sector, particularly in its low-to-moderate-income areas.