The City of South Fulton Department of Economic Development is launching the Small Business Advancement Administration Grant Program in response to the financial challenges presented by the COVID-19 Pandemic.
Donor Name: City of South Fulton Department of Economic Development
State: Georgia
County: All Counties
Type of Grant: Grant
Deadline: 11/17/2023
Size of the Grant: $10,000 to $100,000
Grant Duration: 1 Year
Details:
Funding Information
As part of this initiative, businesses can apply for a maximum grant of $20,000 to support their growth and development.
Uses of Funds
- Funds may be used for operational costs (rent, mortgage, payroll, utility) and COVID mitigation costs (additional outside seating, partitions, etc.)
- Program period/expenditure time frame is one year from date of application approval
- During the program period, proof of payment must be submitted to the COSF Economic Development Department to document eligible use of grant funds
- The recipient will be required to certify that the City’s assistance is not duplicative of any other funding.
Eligibility Requirements
- Must be located within the South Fulton City Limits
- In Good Standing and have a current business license with the City of South Fulton
- Must have an EIN or Tax ID number (Proof from IRS)
- Must provide copies of 2-3 years of financial reports (income statements, balance sheets, tax returns, etc.)
- Must show a financial loss due to COVID-19
- Have thirty (30) or less employees.
Grant Application Required Documents
- Copy of current business license
- Copy of Certificate of Organization or business document issued by the State of Georgia
- Summary of financial condition of business before March 1, 2020
- Summary of income statement and balance sheets from January 2020 – current
- Statement of how grant funds will benefit your business; how funds will be used
- Statement of hardship: (a) summary of changes in business operation due to restrictions caused by COVID-19, (b) an explanation of changes in the financial performance of the business due to COVID-19 (ex. Describing how revenue has been impacted), and (c) a description of any material defaults or notices from existing creditors.
- List of other relief assistance sought by business – relief assistance may include but is not limited to, mortgage modification, rent concessions and financial assistance from the Small Business Association (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act through either the Payment Protection Program (PPP) and/or Economic Injury Disaster Grant (EIDL)
For more information, visit CSFDED.
