MOUNT DESERT — The Summer Residents Association had raised $804,950 as of late Tuesday for its COVID-19 Relief Fund for “retail, restaurant or tourist-driven businesses” in Mount Desert that have been hurt by the coronavirus pandemic.
The original fundraising goal was $500,000.
The SRA reported earlier this month that grant applications had been received from 60 Mount Desert businesses by the May 8 deadline.
SRA board member Jim Green said Tuesday that about 55 businesses have been approved for funding. He said the Mount Desert Chamber of Commerce is sending notes to those businesses requesting confirmation of the information on their grant applications and “asking for bank account details in order to receive their grant.”
Green said the grant money would be distributed around June 1.
The businesses that have been approved for grants will not all receive the same amount.
“We aim to grant the most we can to the businesses that need it most,” the SRA said in announcing the relief fund late last month.
If all the money that has been raised so far is distributed at this time, the averagegrant amount would be about $14,600.
More than 175 individuals, couples, families and businesses have contributed to the COVID-19 Relief Fund.
“These efforts have led to a renewed sense of community, as all residents, local and summer, partner and rally around each other,” Green said.