MANHATTAN, KS (May 11, 2020) - - The Manhattan Area Chamber of Commerce announced 24 additional recipients of funding from the Manhattan Business Emergency Assistance Loan Program.
The funds for this program were drawn from the City of Manhattan’s Economic Development Fund upon approval of the Manhattan City Commission, and the program is being administered by the Manhattan Area Chamber of Commerce. Funds can be utilized by for-profit businesses that have immediate needs to maintain business operations due to the COVID-19 disaster. The program is not meant to replace existing relief programs, but is a bridge to longer-term state, federal or private funding options.
The 24 additional brings the total amount of businesses receiving funding to 69 since the inception of the new program in April. The total amount of the 69 loans is $314,821 or roughly 63 percent of the total $500,000 allocated from the City of Manhattan.
“We are grateful to the Manhattan City Commission and our Board of Directors for taking swift action to create this fund and get the money into the hands of local businesses,” said Jason Smith, President and CEO of the Manhattan Chamber. “We still have funds available but hopefully, we’ll see less demand as more businesses are allowed to reopen or go back to full capacity.”
The following 24 loan recipients have received funding totaling $111,970 in the 2nd round of funding:
Arrow Coffee Co., Auntie Mae’s Parlor, Blessed Assurance Day Care, Board & Brush, Bolton Electric, Crown & Glory Salon, Dry Clean City, ETC Boutique, Flint Hills Family Chiropractic, Gameday Sports Pub, Haynes Style Shop & Beauty Supply, J’s Salon, Kansas Discount Nutrition, Krispy Clean Laundromat, Little Apple Pilates, Mojo’s Beach Bar, Pearl Studio Inc., Pretzelmaker, Quantum Health & Wellness, Peter Savary, Short Go, Salon One, Uroval Inc., Wash Palace.
To date, the Chamber has received 91 applications. Some 81 of the applications have been approved for funding. Of those loans approved, 53 of the 81 have less than 10 employees while the average employment is 11.5.
Businesses may apply for the program online at www.manhattan.org. Applicants should be able to demonstrate immediate need created by the COVID-19 disaster, must be pursuing additional funding opportunities, and will be asked to submit a detailed description of the expenses the funds will be used to pay for, to include financial documents.