The City of University Place has received an additional $496,350 from the Washington State Department of Commerce as part of its federal allocation of CARES Act funding. These additional funds will be used to provide more support to U.P. businesses for their COVID recovery efforts.
Unlike the first $500,000 in CARES grants that the City distributed in August, these funds will NOT be distributed in tiers and are open to all U.P. businesses that have 25 or fewer full-time equivalent employees (FTEs) whose primary workstation is within U.P. In addition, there is no requirement to be a business that submits sales tax to the state. The cap on all grants is $10,000.
All applicants must possess a valid U.P. business license as of March 16, 2019 or meet additional criteria for newly established businesses. The business should be in good standing and meet other regulatory requirements as necessary.
For U.P. businesses that received funds during the first distribution of grants, the money was a lifeline that prevented them from sinking. “We used our CARES funds for payroll after our Paycheck Protection Program (PPP) funds were exhausted,” says Jessie Puryear, managing director of Urban Float in the Village at Chambers Bay. “The funds allowed us to keep our doors open and to serve our clients.”
The new business grant application process will open on Oct. 21 and close on Oct. 30. The goal is to review and qualify applicants from Nov. 2 – 6, with distribution of grant funds by Nov. 20. Watch your mail for more details.