Floyd County focused on small business relief
With small businesses across the commonwealth re-opening, many business owners are left wondering how they will move forward.
"I've talked to business owners here for the last month and they've been desperate to try to figure out how they're gonna get cash to open their businesses back up," said Floyd County Judge-Executive Robbie Williams.
Floyd County businesses are being offered a little relief through the county's Small Business Relief Fund. The fund, announced Thursday, will help offset the loss caused by the pandemic by offering grants to small businesses.
"For a lot of these businesses, this is a lifeline that’s desperately needed," said Williams.
One of those businesses is owned by Terry Spurlock. Spurlock Distributing delivers bread and baked goods to local businesses.
“I feel our country’s been based in Mom ’n’ Pop. From the beginning. Mom and Pop stores. And a lot of these places have closed. I mean, they went drive-thru only or they’ve shut their doors. And, you know, a lot of them won’t come back," Spurlock said.
With the downturn of business, Spurlock has had to resort to breaking into his nest egg.
“I have taken money that I had set back for breakdowns- If something happens to your truck, so forth," said Spurlock. "I’ve had to use it as cash flow in day-to-day activity."
He said the funds from a grant like those being awarded by the fiscal court could help him stay on his feet and could be the difference between a business closing or seeing another day.
“This could be huge. I mean, this is huge," he said. "Not only for me but everybody else in Floyd County.”
-Be able to provide an IRS W9 from the Floyd County Fiscal Court.
-Provide documentation to prove loss of income during COVID-19.
-Be a small business, whether for profit or nonprofit.
-Have a physical location in the county.
-Employ no more than 20 people.
-Be open as of January 1, 2020.
-Be active and operational.
Grants range from $2,000 to $5,000. Applications are available online and can be dropped off at the Floyd County Fiscal Court or emailed to firstname.lastname@example.org.
Businesses in Prestonsburg's city limits are not eligible to apply because the city will be receiving separate funding to create a similar program.
The money for the grant is being reimbursed by the state, up to $500,000. Once that cap is reached, the program closes. Williams said submitting an application does not guarantee a grant.
The application deadline is June 12, 2020.