$500,000 in Grants for Albany County Small Businesses
We all know of a small business that was or is being hit hard by the coronavirus pandemic. This week Albany County small business owners are able to apply for a piece of the $500,000 grant money available. Here's how. According to News 10 ABC, applications are now being accepted to help small businesses in Albany County with a grant that could be used towards back rent and expenses.
Small businesses can apply for up to five thousand dollars that could be used for up to two full months of rent that is past due, up to two weeks of perishable goods, and for other expenses incurred to change around the business to fit social distancing requirements. You only have two weeks to apply. You can do that by clicking HERE for the Community Loan Fund website.
To be eligible, small businesses must be a tax-generating, for-profit business in Albany County that has under fifty-one employees. You also need to show that your revenue has decreased at least twenty-five percent because of the pandemic and that the grant is necessary to help your business.
When the applications are received, they will be ranked according to need and given a score to determine how much money will be awarded through the grant. The money will be distributed in February.
According to Albany County Executive Dan McCoy,
When our small businesses suffer, our whole community suffers, and COVID isn’t letting up any time soon. This $500,000 grant program being spearheaded by the County Legislature is another important tool in our arsenal to ensure more of our local establishments are able to survive until we have a widely distributed vaccine.