New grant benefits local businesses

A new grant is offering funding for small businesses

HUNTSVILLE, Ala. (WAFF) - If you’re a business owner in north Alabama, this is a story you don’t want to miss.

Wells Fargo recently made the announcement they’re donating $400 million to nonprofits throughout the country.

Neighborhood Concepts, a non-profit in Huntsville, received a big chunk of that donation.

WAFF Talked with a local business owner who plans to set up her studio and open the doors for the first time this Friday. For her, it’s a dream come true, and it’s all possible thanks to Neighborhood Concepts, as well as the grants and loans she just received.

“I first went to the bank. They told me they are not giving loans for new start up companies,” said Samantha Niedfeldt.

Samantha has been preparing a long time to turn the key and open her own business. When the bank was a dead end, she started looking for help, and she found it at Neighborhood Concepts.

“I literally spent my last dollar into this company and the next day they called me and told me I was approved for a loan and a grant. It was a blessing because this may not have happened if I wasn’t blessed with this money,” said Niedfeldt.

She’s now the owner of Advanced Skin Care Solutions in Huntsville. The grand opening will be Friday, October, 16.

If you’re a business owner, there are still hundreds of thousands of dollars available in grants and loans.

“We’ve got the emergency line of credit for businesses who are really struggling because of Covid. $25,000 or less on those loans. And then we have another that is a little more open that allows you to adapt or grow your business. Those are $75,000 or less,” said Mary Ellen Judah.

Submitting an application for the grant or loan is only a click away on the Neighborhood Concepts website. This is all made possible thanks to Wells Fargo.

“Wells Fargo set aside $400 million of the processing fees that they received from the paycheck protection program to support philanthropy through this open for business program. We applied for the $550,000 award from them and we are very excited that we receive the funding,” said Mary Ellen Judah.

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