The City of Akron is inviting applications for the ‘Small Business Relief Program’ for the businesses facing economic impacts of COVID-19.
Donor Name: City of Akron
City: Akron City
Type of Grant: Grant
Size of the Grant: $10,000
The purpose and intent of the grant is to provide assistance to small businesses to keep their doors open, protect local jobs threatened by the COVID-19 pandemic, and increase the resiliency of local businesses within the City, particularly in geographic areas where the pandemic resulted in disproportionate economic outcomes. The intent is that Akron-based small businesses will have the opportunity to apply for cash assistance to help mitigate the threat to business continuity due to increased supply chain costs and lost revenue associated with COVID-19.
The grants are a single grant available at $10,000 for companies with no less than two (2) and less than or equal to fifty (50) full-time equivalent employees. The City of Akron set aside a total of $1 million for grants and the source of the funds are from the City’s American Rescue Plan Act (ARPA).
In order to receive funding, the business must meet the following requirements for eligibility for this program. The business must be:
- An established business in good standing with appropriate qualifications
- The business’ primary location must be in the City of Akron with the majority its employees and/or revenue concentrated within the boundaries of the City of Akron and located within a Qualified Census Tract
- An employer of 2 to 50 full-time equivalent employees with less than $5 million in annual revenue.
- Able to demonstrate economic hardship.
For more information, visit City of Akron.