Somerset Pulaski Economic Development Authority (SPEDA) seeks to fund proposals that strengthen economic growth and development in Somerset and Pulaski County.
Donor Name: Somerset Pulaski Economic Development Authority
State: Kentucky
County: Pulaski County (KY)
City: Somerset
Type of Grant: Grant
Deadline: 02/24/2023
Size of the Grant: up to $2,500
Grant Duration: 6 months
Details:
The Mini Grant Program, designed by the Somerset Pulaski Economic Development Authority (SPEDA), provides strategic investments in local businesses that are either currently operating or are in the start-up phase within their local community. Each business should demonstrate their overall plan, ways in which the investment will be utilized, the need for the specific investment along with how they are helping to build community to mobilize local resources, and strengthen community institutions and networks.
The SPEDA Mini Grant Series was created internally as an initiative to enhance assistance to small businesses currently operating as well as entrepreneurs looking to start a new business. Each approved project must demonstrate its benefit to the local community.
Competitive project proposals will advance the strategic investment goals of SPEDA. SPEDA being an innovative economic development entity views their work with a vast umbrella approach with hopes to improve the overall quality of life for its citizens. At all levels, SPEDA is committed to investing organizational and financial resources in proposals that are designed to be strategic, collaborative, impactful, and sustainable. Proposals that build capacity through the promotion, support and advancement of one’s businesses and overall economic development will have priority.
Funding Information
Grants are subject to approval for up to $2,500 per business entity and require a 20 percent match of total project costs, and are to be completed within a 6-month timeframe. A check will be presented to each award winner once the application and evaluation process has been completed and the SPEDA organization deems the process to be finalized.
Grant Components
SPEDA Mini Grants may be awarded for a variety of projects, which might include but are not limited to:
- Strategic planning and management processes;
- Purchase of or physical improvements to structures, facilities, equipment, etc.
- Implementation of project;
- Training for employees, management and staff;
- Support for initiatives that enhance leadership, planning and management capacity, such as
initiatives to increase collaboration, interaction and access to information;
Eligibility Criteria
- Eligible entities include operating and start-up businesses located within Somerset and Pulaski County.
- Competitive grants are available to private entities. Non-profits and other governmental entities do not qualify. If approved, grantees will be responsible for administering, monitoring, and reporting the results of their program within 6 months of award. If monies cannot be validated and confirmed for their designated use, a refund will be made to SPEDA.
For more information, visit Mini Grant.
