Alba EDC creates fund to aid businesses

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Small businesses in the city of Alba can apply for up to $2,000 in assistance to help with challenges from the COVID-19 restrictions implemented in March.

The Alba Economic Development Corp. (EDC) approved the plan last Tuesday to assist with utilities, mortgage interest and rent during March, April and May.

The EDC established criteria to seek the funds, including information required with the request.

Criteria include maintaining a commercial location within the city limits of Alba, independently owned and operated, open regular weekly business hours, temporarily closed or operations limited due to COVID-19 restrictions, and experienced or projecting a significant decline in revenue or a significant increase in costs due to COVID-19 disruption.

Business categories include retail (storefront), arts and entertainment, restaurant, personal care (barber shop, hair salon, nail salon, fitness, etc.), medical/dental offices, education/training, hotels/motels, construction, auto trades and small manufacturing businesses.

Categories not eligible include national chains, professional/financial services, grocery stores/convenience stores/gas stations, home-based businesses/independent contract workers, bed and breakfast/bed and bath establishments, nonprofit organizations and permanently closed businesses.

Requirements to receive reimbursement include having reopened within one week after COVID-19 restrictions were lifted, resumed regular operations as much as practicable, and keeping or rebuilding the same number of employees as much as possible.

Deadline to apply is June 12, and the EDC will review the applications at its June 15 meeting and issue checks June 19.