State Treasurer John M. Schroder announced the Main Street Recovery Program stopped accepting new applications at noon on Tuesday.
The closure of the application process comes after obligating all available funding.
As of Sept. 28, small business awards stood at $80 million. The Treasurer's Office says that is based on the number of existing applications not yet paid, the program is at capacity.
"The Main Street Recovery Program proved to be incredibly successful at helping small businesses survive during the pandemic. I just wish we had more funding because it's hard to turn businesses away," said Treasurer Schroder. "We'll continue to process existing applications and make grant awards. The program is far from completed. We just can't accommodate additional applications."
Main Street will continue to process applications and award grants daily until all available funding is used, a release states.
Schroder reminds those business owners who submitted an application but have not received a grant award or denial can continue to use the portal to check on the status of their application and interact with the review team.
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