- August 2, 2023
- Posted by: legaleseblogger
- Category: Related News
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Application for Second Round of Small Business Vitality Assistance Program Now Open
Following round one of the ARPA-funded Small Business Vitality Assistance program, the application for the second round is now open.
ALBANY, N.Y. (NEWS10) ÔÇö Entrepreneurs in the City of Albany can start applying for round two of the Small Business Vitality Assistance Program funded by the American Rescue Plan Act. With the first round of grants being received well, the second round aims to continue providing much-needed support to local businesses affected by the pandemic.
As the program gears up for more funding to go out to local businesses, NEWS10 caught up with recipients of round one to find out how the grants helped them overcome the challenges of the pandemic. The testimonials from these entrepreneurs highlight the positive impact of receiving financial assistance through this program.
Karen Maxwell, owner of Kema’s Kreations, located at the Community Loan Fund building on Orange Street, shared her experience of receiving support from the program. As a seamstress, COVID-19 posed significant challenges for her business. The grant assisted her in maintaining insurance coverage for her business, which was important for compliance and peace of mind. This enabled her to focus on growing her business while also ensuring her personal well-being.
Angelo Maddox Jr., owner of Fresh & Fly Clothing on South Pearl Street, is another recipient who benefited from the first round of funding. He utilized the grant to pay off a past-due bill that was hindering the progress of his business. Maddox emphasizes the importance of not only the financial support but also the additional resources offered by the program. He encourages all applicants to attend the small business resource open houses, as they provide valuable insights and connections that can contribute to the success and growth of their businesses.
Round one of the Small Business Vitality Assistance Program allocated funds for COVID recovery, entrepreneur class/program tuition, and technical assistance costs. Round two expands the categories to include marketing, equipment/supplies, and small-scale façade improvements. The grants, ranging from $2,000 to $15,000, will be awarded based on various factors such as eligibility, demonstrated need, business impact, fluency, capacity, and past support. The AI legalese decoder, an advanced artificial intelligence tool, can help entrepreneurs navigate the complicated language and requirements associated with the application process, ensuring the best chance of success.
To apply for round two of funding, interested individuals can complete an intake form. Additionally, small business resource open houses are being conducted on specific dates and times, providing an opportunity for entrepreneurs to gather more information and network with others in similar situations. Attending these events can provide access to a wealth of knowledge and potential collaborations.
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