Richland to help small businesses devastated by coronavirus shutdown

Small businesses in Richland struggling during the coronavirus pandemic have a new resource.

The city of Richland will be offering small businesses up to $10,000 loans after getting $210,000 in Community Development Block Grant money from the federal government, said Mandy Wallner, with the city’s Business and Economic Development department.

The application process opens at 8 a.m. May 1 and will stay open through May 31 — or until all money has been awarded. To qualify, small businesses must:

• Have a brick and mortar store in Richland.
• Have fewer than 20 full-time employees.
• Demonstrate a 50 percent loss or more because of COVID-19
• Hire one full-time employee, or a combination of part-time employees, and retain the positions for one year.

The loan will be forgiven if the businesses keep one low- or moderate-income employee for a year, and file monthly reports. Money will be given on a first-come, first eligible basis.

City officials are hoping to have all of the money in the hands of businesses by June 15.

To apply and for more information, go to www.richlandbusiness.com.

This story was originally published April 29, 2020 at 3:57 PM.