ALBERT LEA, Minn. – $870,000 is being given to Freeborn County businesses hurt by the coronavirus pandemic.
Freeborn County, the City of Albert Lea, and the Albert Lea Economic Development Agency (ALEDA) created a new grant program in June with $450,000. Federal CARES Act dollars were added to the fund in July and grants ranging from $4,500 to $28,500 have now been awarded.
130 businesses applied for assistance and ALEDA says everyone who qualified received a grant. Businesses that were eligible to apply included small businesses of 35 or less employees that have seen at least a 20% reduction in revenue due to COVID-19.
ALEDA says this grant money must be spent on things like mortgage/rent payments, payroll for new or existing employees, or operating expenses.