Ulster County has decided to use $1 million in federal funding through the American Rescue Plan Act (ARPA) to help small- and medium-sized businesses. The county received a total of $34 million in ARPA funding. It has decided to allocate the $1 million to what it calls the Ulster County CARES II Small Business Assistance program.
Eighteen small businesses in Ulster were awarded a total of $542,983 under the first phase of the Small Business Assistance Program. The individual grant amounts ranged from $10,600 to $35,000. It”™s expected that about 25 more businesses will be funded under CARES II, with a maximum grant of $35,000. The Ulster County Economic Development Alliance managed the competitive grant application process, which took place while Pat Ryan was still serving as Ulster County executive prior to his election to Congress.
“In reviewing applications for our CARES I program, we learned more about how the pandemic impacted our small, local businesses. I”™m proud that we are using our ARPA funds to provide a second round of critical funding for the Ulster County small-business community,” said Acting County Executive Johanna Contreras.
Formal submissions for CARES II funding will be accepted from Oct. 31 until Dec. 11.
Tim Weidemann, director of economic development and president and CEO of the Ulster County Economic Development Alliance said, “We know that the small-business community is still feeling the effects of the Covid-19 pandemic. This funding will help businesses maintain financial stability and maintain and increase employment in Ulster County.”
Sarah Haley, who chairs the Economic Development Alliance”™s board, said, “I”™m elated to see the Ulster County CARES Small Business Assistance program continuing. We heard from several awarded businesses about the difference this made in their day-to-day operations.”
To qualify for funding, businesses must have 25 or fewer employees. A wide variety of business expenses, including rent, payroll, equipment and fixed assets will be eligible for funding.
To date, about 70% or more than $24 million of Ulster”™s total ARPA funding has been allocated for a variety of projects that included improving infrastructure and trails, mental health services, addiction recovery and community programs.
