Peachtree Corners has awarded federal grants to 118 out of 160 qualified local business applicants totaling $2.66 million as part of the city’s efforts to support small businesses during the pandemic. The grants are funded through the CARES Act, a $2.2 trillion economic stimulus bill passed by the U.S. Congress in March.
The city targeted restaurants, retail stores, hair and nail salons, and fitness centers to receive the funds. Additionally, the city awarded funds to non-targeted businesses, such as medical offices and daycares, that met the criteria established by the city.
“This grant is essentially oxygen for my small restaurant,” said Andrew Hoppen owner of Taqueria del Mar and a Peachtree Corners resident. “Ever since the pandemic, we have been forced to operate at 60-70% capacity of prior years. In a business with margins in the 3-6% range, one can quickly surmise how difficult this has been. I am certain that without the assistance we have received, we would be forced to close our doors permanently.”
Businesses can use the funds for rent, payroll, utilities, and inventory. Overall, restaurants received 50% of the total funds, nail and hair salons, 9%, retail stores 5%, fitness centers 4%, other targeted business 6%. Non-targeted businesses received 25% of the total. Grants ranged from $1,000 to $50,000.
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