Businesses and nonprofits, based in Powder Springs, are eligible for a second-round application process for the city’s Small Business Grant Program.
That program will award grants of up to $5,000 to qualifying businesses and nonprofits that apply before the Nov. 5 deadline, according to a city statement.
The city is finalizing its review of first-round applications, with them being notified by email of their status.
This grant program is aimed at offsetting the economic impact to small businesses as a result of the COVID-19 pandemic.
Applying organizations must have less than $5 million (up from the previous round’s $1 million limit) in estimated annual gross receipts and demonstrate a financial disruption of 10 percent or more due to the pandemic (previously 25 percent).
Applicants must demonstrate how the operating assistance provided will enable their business to continue to operate.
Also, applicants must have their primary location or headquarters within the Powder Springs city limits.
Franchisees may apply if the business is wholly owned by an individual.
Applicants must meet other requirements such as holding all necessary permits and licenses as well as at least one year of continuous operation before March 1, 2020.
Both home-based businesses and those with a physical commercial location are eligible to apply.
The total funding for the grant program is limited to $400,000, which will come from the city’s $805,038 allocation from Cobb County through the Coronavirus Aid, Relief and Economic Security (CARES) Act.
Cobb County officials approved distribution of more than $10.3 million in CARES Act funding to Cobb’s six cities on a per-capita basis.
As Powder Springs is using federal CARES Act funding for the grant, all operating assistance must be compliant with federal regulations.
Grant funds may be used for:
- Rent/leases/equipment rental
- Utility payments
- Marketing
- Personal Protective Equipment (PPE) and other supplies/costs to ensure employee and customer safety
- Rehiring and/or maintaining full-time W-2 or 1099 employees
Businesses may apply for the Powder Springs Small Business Grant program even if they have received CARES Act funds through other programs, including the U.S. Small Business Administration Paycheck Protection Program or the SelectCobb Small Business Grant program.
However, if awarded, recipients may not use grant funds for expenses that already have been covered through other programs.
Applications must be submitted by 5 p.m. Nov. 5 and will be reviewed by city staff and awarded based on need and availability of funds.
The city also is using its CARES Act funds for housing and utility assistance, devices and Wi-Fi hotspots for students attending local schools and city expenses, including PPE and technology upgrades to facilitate teleworking.
Applications for the city’s Small Business Grant Program, which also include all eligibility details and submission instructions, can be found by visiting CityOfPowderSprings.org/DocumentCenter/View/6102/Powder-Springs-Small-Business-Grant-Application-Packet---Second-Round-PDF.
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