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Council Approves Small Business Assistance Program
Post Date:02/08/2023 10:13 AM
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Some small businesses in Greenville will soon have the chance for financial assistance after the Greenville City Council approved a small business assistance program during its regular meeting on Monday night.
The Council voted unanimously in favor of moving forward with the American Rescue Plan Act (ARPA) program that will assist small businesses in development, growth, and continued recovery from the COVID-19 pandemic. There was $400,000 of City of Greenville ARPA funds appropriated for the program with as much as $50,000 to be awarded to each selected small business that meets certain requirements.
The small business assistance program is designed to provide support for startup businesses and existing businesses that were disproportionately impacted by the pandemic. Potential assistance could cover building rehabilitations, up-fits or expansions, facade improvements or the purchase of equipment among other costs.
To qualify for the assistance, a business must be within the city limits and located in a qualified census tract as identified by the U.S. Department of Housing and Urban Development (HUD). Additionally, the business must be independently owned and operated with five or fewer locations and 100 or fewer employees. Business gross sales must not exceed $5 million. The City has also established a scoring system to rank applicants based on financial document reviews, budget projections, previous assistance, and credit and background checks.
More information about the applications process for the program will be available in March of 2023. For more information, contact the City of Greenville at (252) 329-4518.