This article was updated on May 6 with new information from the Governor’s office.
The State of Idaho will give coronavirus economic relief grants up to $10,000 to the state’s small businesses. No other state in the country is putting up more money in direct cash support for small businesses.
Gov. Brad Little announced the Idaho Rebound Grant program at a press conference on April 30. Idaho will use $300 million of the $1.25 billion it received from the federal government through the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
“Small businesses will be eligible to receive the Idaho Rebound Grants if they haven’t already received a Small Business Administration grant (through the Paycheck Protection Program) or received less than $10,000,” Little stated.
Cash grants will be directly deposited into the bank accounts for eligible businesses. More than 30,000 businesses could benefit.
The state will open up the application process for the rebound grants on May 11, which will be run by the State Tax Commission. Any small business wishing to apply will need to create a Taxpayer Access Point (TAP) account if they do not already have one.
The state recommends obtaining a TAP account as soon as possible, in advance of the application period opening on May 11. Instructions on getting a TAP account are detailed on the rebound.idaho.gov website.
Applications will be handled in two phases:
- Eligible entities with one to 19 employees may apply starting at noon MDT on May 11 through noon MDT on May 15
- Eligible entities with one to 50 employees may apply starting at noon MDT on May 18 through noon MDT on May 22
The identity of all grant recipients will be shared at Transparent.Idaho.Gov when information is available.