Idaho Governor Brad Little has announced a $300 million grant to help small businesses affected by the COVID-19 pandemic. The state will provide as much as $10,000 per business. The money will come from the state’s $1.25 billion share of the coronavirus relief passed by Congress.
The grants are open only to businesses that have not received loans from the Paycheck Protection Program and those that received less than $10,000. The application will be administered by the Idaho State Tax Commission and is expected to begin on May 11. To ensure transparency, all recipients will be posted on transparent.idaho.gov.
Little hopes that the money can help them get back to prosperity and restore the trajectory they had 70 days ago. During that time Idaho had a record-low unemployment rate and record-high employment rate.