The ARPA Advisory Committee agreed on the framework for a small business matching grant program

LYNDON — The ARPA Advisory Committee on Wednesday agreed on the framework for a small business matching grant program. As written, it would set aside $225,000 of the town’s American Rescue Plan Act funds: $100,000 to support new business development, $100,000 to aid existing business growth and expansion, and $25,000 for grant administration. Maximum grant awards would be $20,000; approved applicants must provide a two-to-one grant match ($2 committed for every $1 received). The proposal defines a small business as having less than 20 employees and less than $2 million in annual revenue. The ARPA Advisory Committee forwarded the proposal to the Select Board with a recommendation to adopt. The Select Board will take up the matter at a date to be determined.