Small businesses in Hopkinsville that have experienced a loss due to the COVID-19 pandemic may be eligible for up to $2,000 in stimulus funds from the city.
Hopkinsville City Council voted Tuesday to approve the program, which reserves $335,969 of the city’s $2.23 million CARES Act funding for small business stimulus grants, City Finance Director Robert Martin told Hoptown Chronicle.
The funds will be paid on a first-come, first-served basis.
Grants of up to $750 are available to sole proprietorships, partnerships, LLCs and other businesses that do not submit city payroll withholdings. A minimum of $50,000 has been reserved for businesses that fall within this category. Businesses that do submit city payroll withholdings are eligible for up to $2,000.
Eligible businesses may begin submitting applications for funding beginning at 8 a.m. Monday, Nov. 2. Applications can be submitted online or by picking up a paper application — available beginning Friday, Oct. 30 — from the Hopkinsville Municipal Center, Hopkinsville-Christian County Public Library, or the Christian County Chamber of Commerce. All completed paper applications must be returned to the Hopkinsville Municipal Center at 715 South Virginia St.
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Applications must be submitted by 4:30 p.m. Nov. 16, and payments are expected to be made between Nov. 30 and Dec. 15.
For additional information, call (270) 890-0239 or visit hoptown.org/sbs.
Eligibility
To be eligible, businesses must:
- Have experienced a loss due to COVID-19
- Have their Corporate Headquarters located within Christian County, Kentucky
- Have a current Hopkinsville Business License
- Have paid the Minimum Net Profit License Fee of $250 for tax filing year 2019
- Not have paid a Net Profit License Fee greater than $1,500
- Not be delinquent on any taxes owed to the City of Hopkinsville – including but not limited to Licenses/Payroll/Property taxes as of September 1, 2020
- Have 25 full-time equivalent employees or fewer
These businesses are not eligible for the program:
- Zero return filers
- Rental Businesses (Filing Schedule E)
- Businesses with Net Profits greater than $100,000
Other assistance available
PADD loan program
The Pennyrile Area Development District has a loan program available to assist local businesses impacted by the pandemic. Loans ranging from $5,000 to $25,000 can be used to meet short-term working capital needs such as payroll, rent, utilities, interest payments, supplies, inventory management and payments to suppliers. Learn more.
Community development, education & safety grants
State Farm Insurance has announced it is giving grants in three areas: community development, education and safety. Grant requests must be for $5,000 or more. Applications will be accepted through Oct. 31. Learn more.
Julia Hunter is the engagement editor for Hoptown Chronicle. Reach her at julia@hoptownchronicle.org.
