Cobb County has allocated more than $50 million out of $132 million in federal coronavirus relief funds to support small local businesses negatively impacted by the pandemic.
Commissioners voted unanimously to create the program at their regular meeting Tuesday.
Businesses with less than 100 full-time employees and with a headquarters, regional or central office in Cobb are eligible to apply.
The program will be administered by SelectCobb, the nonprofit arm of the Cobb Chamber. Applications will be screened by an independent committee formed by SelectCobb and the Board of Commissioners, according to a memorandum of understanding.
Cash grants will be available as follows:
-Businesses of one to 10 employees may receive up to $20,000
-Businesses of 11 to 50 employees may receive up to $30,000
-Businesses of 51 to 100 employees may receive up to $40,000.
The grant program follows a Cobb Chamber survey that found 32 percent of local businesses fear COVID-19 may put them out of business, and 60 percent say they need financial support.
“It basically mirrors what the federal government did with the [paycheck protection program], this is just on a county level,” said Commissioner Bob Ott.
He added, however, that the county had taken pains to try and avoid the pitfalls of the federal program, which has been plagued by criticism that it was too slow, opaque and contained loopholes.
“The majority of the jobs in Cobb are created by small businesses, so the best way to get people back to work is to help these small businesses survive,” Ott said.
The deadline to apply is June 26, and Ott said the county hopes to have a final list of grantees by the end of July.
