The City of Decatur has finished taking in applications for business grants designed for both non-profit and small businesses, and expect to announce the recipients of the grants over the coming days.
Decatur is set to receive almost $3m from the federal government thanks to the CARES Act. From that fund, $1.12m has been earmarked to help non-profits and small businesses. Corporate Gifts and donations would no doubt be gratefully received by businesses in recovery.
Back in May, the Downtown Development Authority granted loans to 28 small businesses in the city. Once the CARES funds were released in October, the city commission decided to give these 28 businesses $500,000 each. This converted their loans into grants that could be used to offset any expenses caused by the pandemic.
A new round of grants worth $400,000 was approved for small businesses in October. These were limited to businesses that were staffed with up to 50 full-time employees and each company could get a maximum of $25,000 each. The deadline for applying for these grants was November 25 and the recipients will know if they are on the list within the next week. The funds should be distributed to the recipients by December 18. In the event that the program is oversubscribed, the recipients will be decided using a blind lottery.
An additional $300,000 in grants will be distributed specifically to local non-profits.
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