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Small Businesses Offered Financial Relief During Difficult Time

Small businesses everywhere have been hit hard by the pandemic. In Myrtle Beach, small businesses are being offered financial help to cope with the economic hardship they currently face.

The U.S. Department of Housing and Urban Development has $600,000 available for small businesses in the area. Businesses can receive anywhere from $1,000 to $25,000, which can go towards a variety of different business expenses. 

Courtney Frappaolo, Horry County’s Community Development and Blocks Grants Director, explained the purpose of the program saying, “The goal of this program from a federal funding standpoint is twofold. It’s to help local communities stabilize their economy but also to ensure that low to moderate-income residents can maintain their jobs and maintain their housing.”

Applicants must meet a variety of requirements in order to be eligible for the grant money – the small businesses must have 25 or fewer employees, be located in Horry County, and show the economic hit they took as a result of the COVID-19 pandemic. Small businesses have until January 29th to apply. 

If you are interested in applying, click here to access the application.

News

City of Myrtle Beach Loses 53 Employees

Due to the ongoing economic impact of the COVID-19 pandemic, 53 employees of the city of Myrtle Beach have decided to leave their jobs.

Most of the employees are a part of a voluntary severance program that began in June. The voluntary severance package will provide employees their salaries for a quarter of a year as well as medical coverage through the end of the year.

In addition to those individuals voluntarily leaving the city, 10 employees were laid off by the city – all of whom will receive the same severance package.

This decision follows a season of significant decline in tourism to the city of Myrtle Beach. The subsequent decrease in revenue has caused salary cuts to city employees – a move that is expected to save the city around $1.3 million. 

City Manager John Pedersen cited the ongoing financial impact of the pandemic saying, “Every employer in the Grand Strand has faced this as a result of the pandemic,” he said. “It’s not any easier for us than it is for them.”