City of Lafayette Creates Covid-19 Business Emergency Relief Grant Program

Description

At the April 7 City Council meeting, Council authorized up to $500,000 to be allocated towards the Lafayette COVID-19 Small Business Emergency Relief Grant Program. This program, in collaboration with the Lafayette Urban Renewal Authority (LURA), is intended to provide short-term bridge funding for Lafayette small businesses who are seeking relief options as part of a larger strategy for business recovery and sustainability.

Businesses in good standing, with two or more employees and a brick-and-mortar presence in Lafayette, may apply for up to $10,000 to cover operating expenses.

The purpose of this program is to provide some immediate financial support for small businesses experiencing financial hardship directly related to the COVID-19 public health emergency.

Funds are intended to help businesses cover near-term expenses in the areas of business rent or mortgage, utilities, payroll or other essential operating costs.

Grants are intended to provide short-term financial relief while businesses pursue other relief options. Grant funding must be one component of a larger strategy for a business’s recovery from the impact of the COVID-19 public health emergency, and is not intended to be a business’ sole source of aid.

Complete applications meeting eligibility criteria will be reviewed by a committee in the order received on a first-come, first-served basis.

Grant awards will be determined at the discretion of the City based on the eligibility criteria and the responses provided in this Application, subject to funding availability.

Funds are limited and submitting an application is not a guarantee of a grant award, and the City may terminate the Program at any time, for any reason.