fbpx

The Mississippi Development Authority is now accepting applications for the Back To Business Mississippi Grant Program signed into law by Governor Tate Reeves. The grants will be used to help businesses in Mississippi with 50 or fewer employees recover from the economic impact of COVID-19, including operating expenses and salaries.

Key Dates:

  • June 11th: Application portal opens and any eligible business may submit an application
  • For the First 21 Days Businesses that did not receive federal PPP funds or EIDL advance will receive priority
  • For the First 60 days $40MM will be reserved for minority-owned and women-owned businesses
  • July 3rd: Businesses that receive PPP/EIDL funds will be allowed to apply a portion of their state aid offset based on the loan amount. The grant will not be reduced by more than half.

 Eligibility:

  • Businesses that have less than 50 employees and have filed MS income taxes in 2018, 2019, or intend to file for 2020, and suffered any interruption in business due to COVID-19
  • Businesses that received the $2,000 relief check from the MS Dept. of Revenue are still eligible to apply for the grant without restriction
  • The business must have customers or employees coming to the physical premises, or have an owner who is active in the day-to-day operations

 Grant Amount information:

  • Approved applications will receive a base payment of $1,500 and can either receive 1)receive an additional $500 per full time employee – or – 2) itemize eligible expenses on the application up to $25,000. Eligible expenses include payroll, rent, utilities, mortgage interest payments, other eligible expenses that occurred during COVID-19

 Application Requirements:

It will depend on the type of business, but some general information or documents you may need include: tax identification numbers, 2018 or 2019 tax returns, number of Full time employees, information about controlling owners, description of COVID-19 impact, information on if the businesses has received funds from other related grants, and certain information relating to itemized expenses and payroll.

For more information, visit https://www.backtobusinessms.org/ Please note that MDA will never ask for credit card information. There is no fee to submit an application.

Print Friendly, PDF & Email