The City of Powder Springs has opened its application process for its Small Business Grant Program, which will award grants of up to $5,000 to qualifying businesses and nonprofits that apply before the Oct. 1 deadline.
The 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 $1 million in estimated annual gross receipts and demonstrate a financial disruption of 25% or more due to the pandemic. Applicants must also demonstrate how operating assistance provided will enable the business to continue to operate.
Applicants must have their primary location or headquarters within the Powder Springs city limits, and meet other requirements such as holding all necessary permits and licenses, as well as at least one year of continuous operation prior to 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 $805,038.30 allocation from Cobb County through the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The county approved distribution of more than $10.3 million in CARES Act funding to Cobb’s six cities on a per capita basis.
As the city 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
* 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 have already been covered through other programs.
Applications must be submitted by 5 p.m. Oct. 1, 2020, and will be reviewed by city staff and awarded based on need and availability of funds.
The City also plans to use its CARES Act funds for rent 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 eligibility details and submission instructions, can be found on the city’s website, cityofpowdersprings.org.
