Powder Springs has opened a third-round application process for its Small Business Grant Program to award grants of up to $5,000 to qualifying businesses and nonprofits that apply before the March 1 deadline.
The grant program is aimed at offsetting the economic impact to small businesses as a result of the COVID-19 pandemic, according to a city statement on Jan. 26.
Applying organizations must have less than $5 million in estimated annual gross receipts and demonstrate a financial disruption of 10% or more due to the pandemic.
Also, applicants must demonstrate how this funding would enable the continued operation of their business.
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 a business start within or before the fourth quarter of calendar year 2019.
Both home-based businesses and those with a physical, commercial location are eligible to apply.
Since the city is using federal funding through the Coronavirus Aid, Relief and Economic Security (CARES) Act for the grants, 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 these federal grants 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.
If awarded, however, recipients may not use grant funds for expenses that already have been covered through other programs.
Those receiving grants in previous rounds of the Powder Springs Small Business Grant Program may not reapply for more funds.
Applications must be submitted by 5 p.m. March 1, reviewed by city staff and awarded based on need and availability of funds.
For more information, including an application and full submission details, visit cityofpowdersprings.org/830/Small-Business-Grant-Program.
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