SYLACAUGA, Ala. – The Sylacauga Commercial Development Authority has a grant program focused on helping businesses reboot once Gov. Ivey’s stay-at-home order, which is scheduled to end on April 30, is lifted.
The Sylacauga Commercial Development Authority voted to establish what it is calling a ‘Small Business Emergency Re-Boot Micro-Grant’ from its own funds.
The base fund is currently valued at $20,000. Grants will be awarded up to $1,000 per business that receives the grant.
“Applications will be evaluated for compliance with set criteria and grant awards will be distributed by the SCDA,” the authority wrote in a press release.
Here is the criteria that must be met:
- Industry Category: You must be a commercial business within Sylacauga city limits.
- Business Description: Provide a description of the nature of your business with the completed application, including business name, name of owner, business physical address, and number of employees.
- 2019 Revenue Report: Provide either a copy of your 2019 Tax Filing or a written statement of annual revenue.
- List of Fixed Expenses: Provide a list of monthly or annual expenses.
- Statement of Lost Revenue: Provide a detailed statement of losses incurred during the 2020 Covid-19 “Stay at Home” Statewide Public Health Order for Alabama.
- Need Requirement: Funds must be directed to specific payroll needs, utilities, rent/lease, business loan payments, business mortgage, and/or any cost associated with re-booting your business to a regular standard of operation. Include a brief statement of what these funds will go toward.
- Application Submission: The SCDA will begin accepting applications on April 23, 2020, will begin processing applications, and will distribute funds to qualifying applicants within 15 days of grant approval. Should funds remain available, the deadline for application is set for 5:00 PM, May 23, 2020.
Note the final bullet point of important dates. SCDA will begin accepting applications Thursday, April 23. The deadline is May 23 at 5:00 p.m.
You can find the application by clicking here.
The SCDA is looking for ways to provide more funding.