Small Business Relief Fund
Lowcountry Local First (LLF) has partnered with local-independent telecom company, Home Telecom, to launch a Small Business Relief Grants program to aid business owners who’ve faced adverse impacts from the COVID-19 pandemic. Initiated by the generosity of Home Telecom through a gift of $50,000, the two entities implore for additional corporations to expand the fund for deeper economic investment for the Lowcountry with a goal of doubling this initial gift to reach $100,000.
Locally-owned and independent businesses headquartered within the Tri-County region can apply for grants of $1,000 or $2,000 to use at their discretion towards business operations. All grants are non-repayable and will require no formal reporting. Applications will be available via the Lowcountry Local First website starting September 17th and will feature a series of questions to assess need and eligibility.
“Being a family-owned, local business in the Tri-County region, it is Home Telecom’s belief that taking a financial interest in the communities we serve is vital to the continued successful growth of our region,” said William S. Helmly, President and CEO of Home Telecom. Helmly continues, “We felt the need to do something to specifically support small, local businesses in the Tri-County region experiencing financial hardships due to COVID-19. I challenge other Tri-County business leaders to join in on the effort.”
“We are extremely grateful that Home Telecom recognized the struggle facing so many of our small businesses right now and has stepped up to do something — in a big way!” says Barbie Schreiner, Director of Development for Lowcountry Local First. “This fund will provide meaningful and swift assistance to those who need it to keep their lights on and food on the table. We expect an overwhelming number of applicants, so we look to others in our community who are able to step up and help us grow this fund so that we don’t have to turn anyone away who needs this assistance.”
Eligibility criteria will focus on the smaller businesses in the Tri-County region who were ineligible for federal aid like micro-entrepreneurs — businesses with 0-3 employees and less than $250,000 in annual revenue (approximately $35k-$45k in net profits). These businesses need immediate assistance to sustain the impact from decreased business and cash flow caused by COVID-19.
The applications will be reviewed by a small committee weekly on a rolling basis until the threshold of applicants has been met. Notification will be sent within 7-10 business days indicating if their application has been accepted, denied or under further consideration.
Questions? Please contact Barbie Schreiner at 843-801-3390 or Barbie@lowcountrylocalfirst.org.
Media inquiries should be directed to Jordan Amaker at Jordan@lowcountrylocalfirst.org.