City of Springfield Releases Round Two of Prime the Pump Business Grant Program
Mayor Domenic J. Sarno and Tim Sheehan, Chief Development Officer, today announced the release of Round Two of the “Prime the Pump” grant program, aimed at providing immediate financial relief for small businesses in Springfield. The goal of the program is to help preserve jobs and assist businesses through this difficult time and as the federal assistance through the Small Business Administration and other entities is being rolled out. Grants in the Prime the Pump program will be awarded of up to $15,000 to eligible businesses.
The Prime the Pump program has already awarded $222,000 in its first round, assisting 30 restaurants in preserving a minimum of 30 jobs throughout the city. Mayor Sarno authorized an additional $500,000 of CDBG carryover funding to allow for a second round to address more business needs in the city.
“We are offering another opportunity to help bridge the economic hardship many of these small businesses are experiencing during this crisis and to help them continue to employ people,” said Mayor Sarno. “We expect a robust response to this program, as we did with the last round, and will make every effort to assist as many businesses as our funding allows.”
The first round of applications experienced an overwhelming number of applications, with 80 applications totaling over $1 million in requests – four times the amount that was available. Each application was scored based on criteria provided in the application, and those that were awarded are now going under contract with the City to receive the funding. The awards represented a wide variety of cuisine and a wide geography of the city, from Indian Orchard to Downtown.
The second round of the “Prime the Pump” program is a grant program of up to $15,000 per award, open to small businesses of all kinds that have retained employees, and applications are only open for one week – due back on Thursday, April 16th at 3 PM, with a goal of getting funding out to businesses as soon as possible. There is a limited pool of funding and the applications will be competitively scored based on criteria provided in the Application Guidelines.
Applications will only be accepted by email. Interested businesses seeking an application should email Anthony Moore in the Economic Development office at Amoore@springfieldcityhall.com or directly download an application from the City of Springfield’s COVID-19 Business Resources site on the Planning & Economic Development page of the city website.