A small business grant fund will open Wednesday morning to help local business owners dealing with the COVID-19 pandemic.
The Mayfield-Graves County Chamber of Commerce and Graves County Economic Development announced the fund through the Mayfield Community Foundation. It will allow citizens and businesses to make financial contributions to help small businesses located in Graves County.
Businesses may request up to $2,000. Applications will be evaluated by a committee established by the Foundation.
Ryan Drane, president of Graves County Economic Development, said the fund is needed by business owners.
“These are certainly unprecedented times and our business owners need all of us now more than ever," he said. "Managing this fund through the Mayfield Community Foundation will allow for transparency and for 100% of the funds to go towards assisting those small businesses that need it the most.”
“In working closely with the business community during the COVID-19 pandemic, it has become apparent that we have businesses that either don’t qualify for the federal programs or have not received assistance yet. I am thankful that GCED and the Chamber are able to use their resources to help our local businesses when they need it most,” added Denise Thompson, president of Mayfield/Graves County Chamber of Commerce.
Graves County Economic Development has designated $25,000 to create the grant and the community is encouraged to donate, as well.
The grant will be open Wednesday at 10 a.m. If anyone is interested in making a tax-deductible contribution, they can make it online by visiting www.mayfieldgraveschamber.com or simply stop by any First Kentucky Bank location and make checks out to the Mayfield Community Foundation referencing the Small Business Fund in the memo line. Any amount will be accepted.
The grant is designed to have participation from local businesses and community members. For additional assistance regarding a contribution, please contact Thompson at 270-705-0182 or firstname.lastname@example.org.
Qualifying small businesses are considered to have 1-25 employees. Preference will be given to "brick and mortar" businesses that have their main location in Graves County. Franchisee businesses are eligible to apply if the owner is a Mayfield or Graves County resident. Funds can be used to pay rent or mortgage, payroll and utilities. Applicants will be scored based on a number of criteria. The scoring sheet will be provided with the application.
Applications will also be available by following Graves County Economic Development, Mayfield/Graves County Chamber of Commerce or Mayfield Strong Together on Facebook and clicking on the application link.