AEDC revising Ready for Business Grant Program terms


The Arkansas Economic Development Commission advises in a Facebook post it is in the process of revising the Arkansas Ready for Business Grant Program terms to take advantage of the federal CARES Act extension.Subject to receiving required legislative approvals, AEDC says it will extend the deadline for incurring expenses to Sept. 30, 2021, and the deadline for submitting receipts to Oct. 31, 2021.AEDC officials say they wanted to advise of this pending change so grant recipients can plan to spend their remaining funds accordingly.

Questions should be directed to COVID19.businessinfo@arkansasedc.com.

EARLIER STORY

Deadlines approaching for Ready for Business Grant recipients

Almost 11,500 companies across the state received CARES Act funds through the Arkansas Ready for Business Grant Program. The deadline is rapidly approaching for grant recipients to expend funds. Arkansas companies must use the grant funds received by Dec. 30. According to the program’s terms and conditions, companies are required to return any unused funds to the Arkansas Economic Development Commission.

The list of eligible expenditures has grown since the Arkansas Ready for Business Grant Program was announced in May. Click here to view examples of qualified expenditures. These include purchases for sanitation, reconfiguration, marketing and other purposes.

Businesses are required to verify funds were used for eligible expenditures. The deadline to report expenditures to the Arkansas Economic Development Commission is Jan. 31, 2021.

Each grant recipient received several emails containing a link to submit expense receipts. Please check your spam folder if you have not received an email about reporting expenditures. The Arkansas Department of Economic Development (AEDC) is unable to accept receipts by mail.

Visit the Ready for Business Grant Program page for more information. The AEDC expense review team is available to answer questions at COVID19.businessinfo@arkansasedc.com.

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