Cobb's Board OK's COVID Grant Program for Small Businesses
May 26, 2020 – The Cobb County Board of Commissioners approved funding for a $50 million Small Business Grant Program designed to help struggling businesses recover from the economic damage caused by the coronavirus pandemic. The funding will come out of the $132 million allocated to the county in the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act.
“I’m gratified that the board came together to address an important segment of our community, the small business community,” said Chairman Mike Boyce after the vote. “It demonstrates when it is all said and done, this board has the best interest of the county at heart. We work every day to do the best we can with the money we have - whether it is county money, state money, or federal money - we all have a duty to make sure the taxpayer’s money is spent appropriately and I think this is one action that reflects that.”
The agenda item provides $500,000 to “SelectCobb,” the economic development initiative of the Cobb Chamber, to administer the grant program. SelectCobb staff will review each application received for eligibility requirements. SelectCobb and Cobb County Government will build an independent selection committee comprised of various industries representing each district in Cobb County to review eligible applications and select grant recipients. SelectCobb will lead a marketing campaign with Cobb County Government and various community partners to educate and promote the grant program to small businesses in Cobb County. Only companies with fewer than 100 employees will be able to apply.
The website and email address for this program will be up on June 1, 2020. You will be able to visit it by going to www.selectcobb.com/grants or email [email protected].
Grant applications will be accepted Monday, June 8th through Friday, June 26 at 5:00 p.m. This is not a “first-come, first-served” situation, all applications will be reviewed after the submission deadline.
The applications will be reviewed by commission district so that all areas are equally represented in the number of companies approved for grants. The amount of funding awarded to an individual small business will vary based on the business size as follows:
- 1 to 10 employees – up to $20,000;
- 11 to 50 employees – up to $30,000;
- 51 to 100 employees – up to $40,000.
“I’m excited the Board supported this grant program,” said Commissioner Bob Ott, who worked with business groups to bring the agenda item forward. “Small business creates the bulk of jobs in this county, and in the middle of this pandemic our priority should be to set the stage to get people back to work.”
The Board of Commissioners approved the grant program by a 5-0 vote. A Cobb Chamber survey recently found that 32 percent of Cobb businesses worry the COVID-19 situation will put them out of business, and 60 percent say they will need some sort of financial assistance to continue.
SelectCobb will launch a landing page on www.SelectCobb.com with information on the application process and eligibility requirements on June 1.
Ross Cavitt | Cobb County Communications | [email protected]