City of Albany small businesses impacted by the ongoing pandemic that need assistance in covering costs related to operating in accordance with health and safety requirements can now apply for funding from a new grant program at www.CapitalizeAlbany.com/grants. The new COVID-19 Small Business Adaptation Program (SBAP) is made possible with support from the Albany Community Development Agency (ACDA), and City of Albany Industrial Development Agency. The program will be administered by Capitalize Albany Corporation and will prioritize minority and women-owned businesses and those that serve low-to-moderate-income areas. Eligible applicants may apply for up to $10,000 and eligible disadvantaged business enterprises (woman, minority and veteran-owned businesses) may apply for up to $20,000 in direct-reimbursement grants. Up to $500,000 in grant resources will be made available. APPLICATION PROCESS
All applicants must complete the pre-application questionnaire prior to completing the full application to be eligible for funding. This takes approximately 10-15 minutes to complete.
Applications will be available starting August 18.
Applicants must submit completed full applications by 4 p.m. on September18.
QUALIFYING EXPENDITURES SUPPORTED BY THIS GRANT PROGRAM
Reopening: The purchase of personal protective equipment (PPE) such as face coverings, disposable gloves and protective gowns necessary to minimize the spread of COVID-19.
Retraining: The development and implementation of programs to train new employees, or re-train existing workforce on new business practices.
Restocking: The purchase of perishable goods to replace those that were lost due to COVID-19 and those that were used to supply recovery efforts.
Reorganizing: The purchase of furniture, fixtures, and equipment (FFE) such as physical barriers between workstations, employees and customers; hand sanitzer stations, or café tables and chairs necessary to adapt a business’ space to minimize the spread of COVID -19.
Reimagining: The development and implementation of new programs or product lines to expand/adapt operations to meet new market demands.
CONTACT CAPITALIZE ALBANY
If you have any trouble with obtaining an application, want to learn more about the program’s guidelines or need answers to general questions, business owners can contact the City’s economic development organization, Capitalize Albany Corporation at development@CapitalizeAlbany.com,through Virginia Rawlins at 518-434-2532 x 25 or visit www.CapitalizeAlbany.com/grants.