Fayetteville has an additional $123,000 to use to help small businesses during COVID-19. | Stock Photo
Fayetteville has an additional $123,000 to use to help small businesses during COVID-19. | Stock Photo
Fayetteville received approximately $125,000 in federal funding to help small businesses during COVID-19, city officials said in November.
The latest funding round comes from the CARES Act, city officials said in a Nov. 6 release.
In an Oct. 26 meeting, the Fayetteville City Council approved an allocation of an additional $123,000 for the city's Small Business Retention Grant Program.
The Small Business Retention program currently has $208,000 available. Since May of this year, the grants have disbursed $370,000 to 44 Fayetteville small businesses and secured 162 jobs. Almost three-quarters of the grant recipients have been minority-owned businesses.
A qualifier is that Fayetteville-based businesses' workers must be mostly low- to moderate-income people, the city said. In the instance of a sole proprietor, the individual should be low- to moderate-income as well.
The City of Fayetteville is currently accepting grant applications. Interested businesses should call 910-433-1590 for grant guidelines and to apply.
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