Phase 3, which will be funded with $70 million in Coronavirus Aid, Relief, and Economic Security (CARES) Act funding, significantly expands eligibility for the Grant Program and increases the amount of funding businesses can receive. To ensure funding goes to businesses hit hardest by the pandemic, Phase 3 sets aside funding for restaurants, micro-businesses and businesses based in Opportunity Zone-eligible census tracts.
Interested business owners will need to pre-register to receive an application. Pre-registration will begin on Monday, Oct. 19 and will close on Tuesday, Oct. 27. The application will be available via a phased approach following the end of the pre-registration period, as detailed below. Applicants must complete the full application to be considered for grant funding.