Ultimate SEO LLC being a small business that caters to small business has felt the effects on small businesses. Louisville Metro Government offered businesses the opportunity to apply for $50,000 grants as part of a “Louisville Forward” initiative to help businesses deal with the effects of COVID-19.
We’re pleased to announce that our application was approved in August and many of the tasks of day to day operations will continue with the same amount of contractor hours.
The total amount of grants approved to businesses in Louisville is a substantial investment in the regions economy. So far of the 21 million dollars budgeted, 16 million has been awarded.
35.9% of grants have been awarded to Women businesses and LGBTQ businesses. An additional 25% was awarded to minority owned small businesses.
Ultimate SEO LLC received the first disbursement in late August and has provided financial records and payroll information totaling the first disbursements amount.
About The Grant:
Grant Program Funding
Louisville Metro Government’s FY21 operating budget includes up to $21 million in federal CARES funding for Small Business COVID-19 Relief Grants.
Amount of Grants
The program will provide eligible businesses with grants up to $50,000 based on demonstrated impact from COVID-19.
Eligible Business Criteria
Businesses meeting the following criteria will be eligible for a grant:
- Businesses with 20 employees or fewer as of March 16, 2020
- Non-retail businesses with 50 employees or fewer that have remained closed or whose business activity have been severely restricted under state executive order dated March 25, 2020
- Businesses that have been negatively impacted by the COVID-19 pandemic
- Businesses must be located in Louisville/Jefferson County
- Businesses must be in good standing with Louisville Metro Revenue Commission
- Business must be in “active” standing with Kentucky Secretary of State
Industries of focus include retail (including direct services), food service, arts & entertainment, recreation, and childcare.
The funds may only be used for the following business expenses:
- Lease/mortgage assistance
- Fixed cost support – to include debt service (interest only), business insurance, other fixed costs
- Technology for online platform to allow online sales – If your business does not currently have an online sales or ordering platform, please consider adding this as an additional revenue generating mechanism. Click here for assistance.
If you received funding from the U.S. Small Business Administration’s PPP and/or EIDL programs, you cannot claim funds to be used for the same expenditures.
Fill out the below pre-application form that will determine your eligibility for a grant. If you qualify, you will receive an email that provides a link to the full application. PC users are encouraged to use Google Chrome, and it is recommended that Mac users use Safari.
Required Documentation for full application:
- Documentation demonstrating negative impact of COVID19 to your business (e.g., late notices, past due bills, layoff/furlough notices, etc.)
- 2019 tax return, personal and business, including IRS Form 941 (please submit 2018 tax returns if you haven’t filed 2019)
- Current record of financial condition of the business, including a profit & loss statement and balance sheet
- Proposed six-month budget for use of funds (If you received funding from the U.S. Small Business Administration’s PPP and/or EIDL programs, you cannot claim funds to be used for the same expenditures.)
- Louisville Metro Revenue Commission business number
- Proof of ownership of business, including any disadvantaged status (certification not required)
Once all documents are received from an applicant, Grant Specialists will review the application and complete summary sheet for the Review Committee, a six-person committee made up of Economic Development staff, METCO Board members and community members with banking and community development expertise. The committee will meet weekly to review and approve grant applications. The Review Committee meets every Thursday at 2 p.m. For a list of approved grants, click here.
Funds must be spent and accounted for by December 30, 2020. Funds will be released in up to three batches (every two months), with recipients required to submit reports with backup documentation showing all payments made for payroll, utilities, lease or mortgage, and fixed costs prior to release of second and third payouts.
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