The City of Albany has launched a new COVID Small Business Assistance Grant Program, funded by the City’s allocation of American Rescue Plan Act (ARPA) funds.
Donor Name: City of Albany
State: California
City: Albany
Type of Grant: Grant
Deadline (mm/dd/yyyy): 05/20/2022
Size of the Grant: $20,000
Details:
Purpose
The Albany small business community has faced significant challenges due to the COVID-19 pandemic. The intent of this grant program is to assist those business sectors in Albany that have sustained financial hardships caused or exacerbated by COVID-19-related mandates and are struggling most to recover from the pandemic. The City of Albany has allocated $500,000 of its American Rescue Plan Act funds for round one of this small business grant program to help support recovery during the pandemic. The American Rescue Plan Act funds have been provided to help with recovery from the COVID-19 pandemic.
Grant awards will be prioritized based on a three-tiered system, with the first tier representing the highest priority for awarding grant funds. The three tiers are listed below:
- First Tier: Businesses that were completely closed by public health mandates for at least 6 months during the pandemic
- Second Tier: Businesses that were not forced to close but suffered revenue losses of greater than 50% in 2020 and/or 2021 compared to 2019
- Third Tier: Businesses that incurred substantial expenses due to pandemic-related safety measures to stay operational
Funding Information
- Applicants may receive up to $20,000 depending on annual revenue.
Eligibility Criteria
- Have experienced business interruptions, closure or curtailed operations, loss of sales, or other negative financial impacts on the business due to restrictions imposed in order to address the COVID-19 pandemic. OR Demonstrate that it has incurred significant new costs for personal protective equipment or physical improvement to its processes or location to comply with social distancing or other directives or recommendations issued by the county or state due to COVID-19.
- Have reported less than $500,000 in gross receipts in the fiscal year 2019 or later.
- Still be operational today.
- Be a for-profit business.
- Be a current Albany business located within city limits, have a current Albany business license, and not have been delinquent in payment on any taxes or fees owed to the City of Albany as of December 31, 2019.
- Have a physical location within Albany city limits.
- Be current on state and local licensing and other regulatory requirements
For more information, visit COVID Small Business Assistance Grant Program.
