Louisville has awarded 70 $5,000 grants to companies impacted by the coronavirus pandemic.
Metropolis Council final month created a business assistance program utilizing $250,000 from the overall fund. The Louisville City Renewal Authority additionally contributed $100,000 to this system to profit companies inside the metropolis’s Highway 42 Urban Renewal Area.
Companies had been requested to spend the $5,000 grants on business-related bills resembling hire or a mortgage, or expenditures.
The applying interval was April 22-24 and 180 companies utilized.
“Sadly there may be not enough funding to award all eligible candidates right now,” in accordance with town.
A further 53 companies had been eligible for grants, however there was inadequate funds, in accordance with metropolis assertion. There additionally had been 57 ineligible candidates.
“Causes for ineligibility embrace enterprise sort, incomplete software, variety of workers and standing of metropolis accounts,” in accordance with town.
“It is crucial that town assist our native companies and assist them get again to a secure place as they navigate the hardships brought on by the general public well being disaster,” Councilmember and Financial Vitality Committee Chairman Caleb Dickinson mentioned in a press release. “Metropolis Council hung out to design a good and environment friendly course of, and I’m happy that funds will likely be within the palms of our enterprise house owners inside a number of days. Our funds to help are restricted, however we’re proud to be offering direct assist to our cherished small enterprise neighborhood, whose house owners have confirmed to be artistic, adaptive and resourceful in these unprecedented circumstances.”
For extra details about this system, contact Financial Vitality Director Megan Pierce at 303-335-4531 or firstname.lastname@example.org.