Louisville has awarded 70 $5,000 grants to businesses impacted by the coronavirus pandemic.
City Council last month created a business assistance program using $250,000 from the general fund. The Louisville Urban Renewal Authority also contributed $100,000 to the program to benefit businesses within the city’s Highway 42 Urban Renewal Area.
Businesses were asked to spend the $5,000 grants on business-related expenses such as rent or a mortgage, or expenditures.
The application period was April 22-24 and 180 businesses applied.
“Unfortunately there is not sufficient funding to award all eligible applicants at this time,” according to the city.
An additional 53 businesses were eligible for grants, but there was insufficient funds, according to city statement. There also were 57 ineligible applicants.
“Reasons for ineligibility include business type, incomplete application, number of employees and status of city accounts,” according to the city.
“It is important that the city support our local businesses and help them get back to a stable place as they navigate the hardships caused by the public health crisis,” Councilmember and Economic Vitality Committee Chairman Caleb Dickinson said in a statement. “City Council spent time to design a fair and efficient process, and I am pleased that funds will be in the hands of our business owners within a few days. Our funds to assist are limited, but we’re proud to be providing direct support to our cherished small business community, whose owners have proven to be creative, adaptive and resourceful in these unprecedented circumstances.”
For more information about the program, contact Economic Vitality Director Megan Pierce at 303-335-4531 or firstname.lastname@example.org.