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County eyes another $3.2 million in aid to businesses lancasteronline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lancasteronline.com Daily Mail and Mail on Sunday newspapers.
The Lancaster County commissioners are set to approve another $1.2 million in grants to struggling local businesses today, with another $3.2 million possible as early as next week. At their meeting this morning, commissioners are expected to approve grants to 81 businesses totaling $1,172,219 as part of a local economic stimulus program being run in partnership with the Economic Development Corporation of Lancaster and Lancaster Chamber. The program is paid for with a portion of the $96 million in federal CARES Act funds the county received earlier this year. The action would bring the total amount of grants under the program to nearly $38 million, reaching 1,298 businesses across the county. ....
Before the pandemic hit, the companies were in sound fiscal shape with âreally good balance sheets,â meaning an ample surplus of assets over liabilities. When the pandemic roared in, the companies âcut expenses dramaticallyâ and took advantage of local, state and federal relief programs, he said. Without the relief programs, Hosler said, âIâm not sure how weâd be looking at all these applicants as still viable businesses. Thatâs what really has helped bridge the gap to this point.â But what about surviving beyond this point, with proposals for additional federal relief programs in limbo in Congress and the timetable for widespread vaccine distribution yet to be determined? ....