Tewatohnhi’saktha & MCK to Inject $1 million into local economy
Kahnawà:ke ( Enníska/February 8, 2021)
Tewatohnhi’saktha is pleased to announce that the Mohawk Council has approved the release of just over $1 million from the Indigenous Community Business Fund for new emergency economic relief programs to be administered by Tewatohnhi’saktha; this is in addition to the current Business Interruption Fund (BIF). The decision was made at the official MCK Council meeting today.
The new program is a result of the recent Kahnawà:ke COVID-19 Business Impact survey, conducted by PlanIT Consulting. Economists evaluated the results of the survey, made 10 recommendations and assisted Tewatohnhi’saktha in designing programs to properly distribute the dollars.
There are five (5) programs in all:
1. Passive (rents not covered by KERM/BIF)
2. Structural (advisory & other professional services, etc.)
3. Immediate Active (financing of inventories, loan payments and other expenses)
4. Technical Assistance (training specialized workers, hiring management consultants, IT specialists, marketing experts, etc.)
5. Growth Opportunities (costs of new investment projects. Maximum of $25,000 and representing a minimum of 50% of the total project cost)
The new programs are more flexible to meet varying Businesses needs. Businesses will be limited to a $10,000 (grant) maximum request, with special circumstances allowing for grants to exceed $10,000 (Growth Opportunities). Applications and program details will be available online Monday, February 15, 2021.
“We are pleased that the this funding has been approved. This pandemic has affected us all in some way, including our business community. This funding will help ensure that our businesses can weather the storm of COVID-19 and continue into the future.” said Greg Horn, Tewatohnhi’saktha Chairman of the Board.