Small business grant available for Decatur businesses this week
DECATUR, Ala. (WAFF) - A new partnership in Decatur brings some exciting offers to small businesses in the area.
Small businesses in Decatur will be eligible to apply for the new Small Business Loan / Grant Assistance Program beginning August 2.
The partnership is between the City of Decatur, the Decatur Morgan-County Chamber of Commerce, and the Decatur-Morgan County Entrepreneurial Center.
The purpose is to present an opportunity for small businesses in Decatur impacted by COVID-19 to apply for a zero-interest loan of up to $20,000, with the potential of having the loan forgiven within 12 months.
The funds can be used to cover administrative costs including utilities, rent, mortgage payments, or payroll.
“We are so thankful for our small businesses who do so much for our city – from sponsoring Little League games to having those special gifts in stock that you just can’t find or order anywhere else. COVID has made life so unpredictable, and we want to ensure that our local business community can easily apply for assistance,” says City of Decatur Grant Administrator Susanne Taylor.
A total of $353,000 is available because of the City of Decatur’s Community Development Department through the CARES Act.
Who can apply?
Eligible businesses include restaurants, hotels, coffee shops, health clubs, and other retailers with less than 25 employees. The businesses must have been in operation for at least one year prior to March 13, 2020 – the day Governor Kay Ivey issued the first State of Emergency for COVID-19.
The business owner or more than 51% of the employees must qualify as receiving a low or moderate income (LMI) to qualify for assistance.
How to Apply?
Small businesses can apply for assistance here or pick up a packet at Decatur City Hall or the Chamber of Commerce. All businesses must complete and submit a W-9 form as part of the application process.
Applications must be received by Thursday, September 30.
For more information or questions, please contact the City of Decatur’s Community Development Department at (256) 341-4967.
Copyright 2020 WAFF. All rights reserved.