January 19, 2022 |City of Lynn, From the Mayor, News

City of Lynn to Allocate $3 Million for Small Business Assistance Grants | January 19, 2022

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Mayor Jared C. Nicholson and Council President Jay Walsh intend to put $3 million of the expected $75 million in American Rescue Plan Act (ARPA) funding that Lynn is to receive to immediate use in aiding struggling businesses with grants.

“We are planning a robust, inclusive input process for the ARPA funding that will happen of the next several months,” said Mayor Jared Nicholson. “In the meantime, small businesses are suffering from the impact of the Omicron variant. Helping them make it through to spring so they can continue to play an integral role in our community is exactly the kind of thing that ARPA funds are meant for. I am thrilled to work with Council President Walsh, Councilor Field and their colleagues on the Council as well at EDIC to create this additional source of assistance.”

As the COVID-19 pandemic continues to leave a profound effect on the City of Lynn, the impact on small businesses has been unprecedented—leaving many industries reeling and struggling to stay afloat. Throughout the pandemic businesses have pivoted to offer increased take out services and the State’s relaxation of to-go alcoholic beverages and increased outdoor dining options has provided temporary relief. Recent surges in the Delta and Omicron variants of COVID-19 have again negatively impacted Lynn’s businesses. Business owners continue to experience hardships due to periods of shut down, staffing shortages, declines in revenue, and increases in costs.

“We know the impact the Covid-19 pandemic has had on small businesses in our City.  These businesses are a vital part of our community and they need our help now,” said Councilor-At-Large, Brian Field, who serves as the City Council liaison on ARPA funding requests. “The City Council will vote Tuesday on Mayor Nicholson’s request to use some of the ARPA funding to support small businesses and help boost economic recovery efforts.”

In order to get these efforts underway, $3 million in ARPA funding will be directed to the Economic Development & Industrial Corporation of Lynn (EDIC) to be allocated to small businesses throughout the City with under 25 employees for grants of up to $10,000 depending on need. Priority will be given to minority and women owned businesses. EDIC administered funding to financially burdened businesses in 2020 and 2021 and will play an integral role in getting this financial lifeline to Lynn’s business owners.

“Small businesses are feeling the effects of Covid everyday,” said EDIC Executive Director, James Cowdell. “We are extremely grateful to Mayor Nicholson and the City Council in allocating these necessary funds. The business community will be extremely appreciative as they continue to survive the impacts of Covid.”

North Shore Latino Business Association/Center President and CEO, Frances Martinez, has witnessed firsthand how hard the City’s businesses have been hit by this pandemic.

“City of Lynn small business are striving to day to day to meet with their financial responsibility, these funds will relieve some of the burden,” Martinez said. “The North Shore Latino Business Association will continue to work with the City making sure everyone is informed and get the needed assistance.”

The above press release was submitted to us by Mayor Jared Nicholson’s office.