The Fulton Community Development Agency is offering Microenterprise Revitalization Initiative funding for small businesses that complete an eligibility survey to qualify, said Nate Emmons, CDA executive director.
“The city can fund up to 90% of the eligible project costs for an approved microenterprise project,” Emmons said. “The maximum grant is $35,000 and the business owner is required to contribute a minimum of 10% of eligible costs. To apply for a grant, small businesses must complete an eligibility survey. If they qualify, they’ll be given an application for their project(s).”
Surveys are available at the Fulton CDA office, 125 W. Broadway.
Among the other program guidelines are:
- Must be a legal operating business enterprise with five or fewer employees (including part- and full-time) when you submit the survey and/or application;
- Business must be located within the city of Fulton
- Nonprofit organizations are not eligible for this program
- Inventory, equipment, furnishing, computers and communications equipment (with limitations) and working capital for items such as payroll expenses and wages are eligible project costs for this program;
- Building or home renovations, physical improvements, and repayment of any existing or new debt, are not eligible business expenses for use of microenterprise grant funding;
- Businesses will be required to submit a written business plan to the CDA and the CDA staff will help businesses with access to planning assistance and advisory services;
- As a result of receiving grant assistance from this program, the business must be able to create or retain a certain number of jobs held by, or made available to, low-and-moderate income persons.
For more information or questions, contact Emmons at (315) 593-7166, or email nemmons@fultoncda.com.
