More than 100 Gig Harbor businesses have been approved for the city’s Small Business Stabilization Grant program, which was created to support local businesses and economic recovery from the resulting impact of COVID-19 statewide shutdowns.
Checks were distributed in July, with the final total for each business set at $2,774.77, the city announced.
In May, Gig Harbor’s City Council passed a resolution authorizing the creation of a Small Business Stabilization Grant program. After receiving funds from the federal CARES Act stimulus package, Council and city staff worked quickly to build and moderate an application program and grant distribution mechanism. The total fund was set at $308,000.
A total of 130 businesses applied, and 111 businesses met the qualifications and were approved. Businesses needed to meet the following criteria to qualify:
- Held a Gig Harbor business license prior to March 1, 2020
- Was a for-profit business physically located in the city of Gig Harbor
- Had 10 or fewer full-time equivalent employees as of March 1, 2020
- Is not owned, or partially owned, by employees or public officials associated with the city of Gig Harbor
- Suffered a financial loss due to the COVID-19 executive order or proclamation by Gov. Jay Inslee.