Borough to move forward with CARES Act small business grants

The Mat-Su Borough announced it will be opening its first round of CARES Grant Applications on August 10th.

Many small businesses in the Borough have already taken advantage of the Paycheck Protection or Economic Injury Disaster Loan  programs, which are Federal assistance programs.

The State of Alaska is operating its own CARES Grant Program, but if a business has already received over $5,000 in PPP or EIDL assistance, that business won’t qualify.

The Borough’s Grant Program is open to Borough businesses, regardless if they have received other CARES Act funding.  According to Assembly member Stephanie Nowers, to apply for the Borough Grants, the business must employ less than 50 people, be physically located in the Mat-Su Borough and must perform 50% or more of its business in the Borough.  The maximum grant award is $10,000.

Residents of Palmer, Wasilla and Houston are ineligible for the Borough grant program, because those cities have their own CARES Act Grant Programs.

According to Ms. Nowers, there will be multiple grant cycles for the Borough Funding, and the grants for each round will be awarded on a “First Come First Served” basis.  She says that all holders of Mat-Su Borough Business licenses will receive an email detailing how to apply for the grant program.  There is also information available at matsugov.us under the “MSB Cares Program Grant Applications” tab.