The City of Powder Springs has opened a third-round 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 March 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 $5 million in estimated annual gross receipts and demonstrate a financial disruption of 10% 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 (franchisees may apply if the business is wholly owned by an individual), and meet other requirements such as holding all necessary permits and licenses, as well as a business start within or prior to the fourth quarter of calendar year 2019. Both home-based businesses and those with a physical commercial location are eligible to apply.
As the city is using federal funding through the Coronavirus Aid, Relief, and Economic Security (CARES) Act for the grants, all operating assistance must be compliant with federal regulations. Grant funds may be used for:
- Rent/leases/equipment rental
- Utility payments
- 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. If awarded, recipients may not use grant funds for expenses that have already been covered through other programs. Those receiving grants in previous rounds of the Powder Springs Small Business Grant program may not reapply for additional funds.
Applications must be submitted by 5 p.m. March 1, 2021, and will be reviewed by city staff and awarded based on need and availability of funds.
For more information, including an application and full submission details, visit cityofpowdersprings.org/830/Small-Business-Grant-Program.