The City of New Albany will invest American Rescue Plan (ARP) funds to support qualifying local businesses within the City of New Albany that have been impacted by the COVID-19 pandemic.
Donor Name: City of New Albany
City: New Albany
Type of Grant: Grant
Type of Entity: Businesses
Deadline (mm/dd/yyyy): 01/31/2022
Size of the Grant: $10,000
Funds under this program are limited and it is the City’s intent to focus these resources to effectively support local New Albany businesses that retain the employment of citizens.
- Businesses meeting the requirements above shall be considered eligible for a maximum grant award of $10,000.
- Grant funds may only be used by awardees for working capital expenses that include, but are not necessarily limited to, employee salaries, general operating expenses (rent or utilities), inventory, and advertising/marketing expenses.
Businesses meeting ALL of the following criteria shall qualify for grant consideration:
- Must have a business physically located within the corporate limits of the City of New Albany
- Must have no more than 100 employees
- Must be a for-profit business – the following business types are specifically ineligible for assistance:
- Nonprofit organizations
- A business in which a majority owner or member of the immediate family is an elected official of the City of New Albany or a member of the City of New Albany Redevelopment Commission.
- Businesses deemed ineligible by the City of New Albany
- Must be structured as a sole proprietorship, partnership, corporation, S corporation (S subchapter) or limited liability company (LLC). Individuals who are self-employed are also eligible to apply.
- Eligible businesses may receive up to $10,000 combined from the City’s OCRA CDBG Phase 3, ARP Round 1 and ARP Round 2 programs. For example: Business A received the MAXIMUM grant assistance of $10,000 from the City in ARP Round 1 or CDBG Phase 3, so Business A may NOT apply for funds in ARP Round 2. Business B received $5,000 from the City during ARP Round 1 or CDBG Phase 3 and is only eligible to apply for $5,000 in ARP Round 2.
For more information, visit City of New Albany.