Sandy Springs approved 160 business applications for its small business relief grant program. The local businesses will receive a total of $1.6 million in funding.
Each business could receive $5,000 to $15,000 through the COVID Small Business Relief Assistance Program.
Last year, Sandy Springs received $4.6 million in Coronavirus Aid, Relief and Economic Security (CARES) Act money passed down from the federal government to Fulton County.
The city originally allocated $1.2 million to help small businesses. When more applications poured in than expected the Sandy Springs Development Authority stepped in providing a $100,000 contribution in January, Assistant City Manager Kristin Smith said. The Authority planned to approve another $50,000 this week.
On Tuesday, City Council approved an additional $277,223 to bring the relief fund total to over $1.6 million.
The city heard from 182 businesses asking for financial help due to the pandemic, Smith told City Council Tuesday.
A city statement said nearly 80% of the businesses that applied for financial help have operated in Sandy Springs since at least 2005.
Business owners with up to 10 employees reported to the city that they saw more than a 40% decline in revenue in 2020 after the start of the pandemic. Local businesses employing larger numbers of staff reported a 30% decrease in revenue, Smith said during the city meeting.
“Our small businesses are the heart of our community and economy,” Mayor Rusty Paul said. “This relief program is an investment to help ensure our local business owners have the resources they need to keep going,”
The Sandy Springs Development Authority and Sandy Springs Perimeter Chamber have helped to review applications and administer funds, officials said.
