Augusta, Gardiner downtown associations partner on emergency business grants
Photo / Maureen MIlliken
Businesses in downtown Augusta and Gardiner affected by the coronavirus can take advantage of a grant program offered by the two cities' downtown associations.
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Augusta's and Gardiner's downtown associations are partnering on a grant program for small businesses that have taken a hit from the COVID-19 shutdown.
Augusta Downtown Alliance and Gardiner Main Street are offering immediate relief grants of up to $3,000 from the newly created Kennebec Valley Downtown Relief Fund. The fiscal sponsor is the Maine Development Foundation, which is taking part without any administrative fees.
Both Kennebec River cities have undergone a downtown rebirth over the past few years, with a variety of small independently owned businesses opening, particularly in the last year or two.
"Small businesses make up the backbone of our downtowns," a program overview for potential applicants and donors says. "And working together, we will emerge stronger than ever!"
The program, announced April 6, has raised $29,000, which is enough to fund 10 grants. As of Monday afternoon there were 10 applicants, said Michael Hall, executive director of the Augusta Downtown Alliance. Six applicants were from Augusta and four from Gardiner, but the identities of grant applicants and recipients are being kept confidential.
Applications will be accepted through April 30 and the fund is actively pursuing donations from businesses and individuals.
The review team is made up of representatives of the Augusta Downtown Alliance, Gardiner Main Street and Maine Development Foundation. Applications will be reviewed weekly, and the group hopes to get the money to the businesses within a week of being approved.
Larger businesses chipping in
The fund started $9,000 in seed funding — $4,500 from each organization, said Hall.
Peter Prescott, of a Gardiner water systems contractor, EJP, was one of the first to express an interest, and offered $5,000 in matching funds, organizers said.
The fund also has pledges of $3,000 each from Kennebec Savings Bank, KV Federal Credit Union and Central Maine Power Co., as well as $9,000 from the Gardiner Board of Trade.
More businesses have said they'll support the effort, the information sheet said. An online donation portal has been established for businesses or individuals that want to help out.
The money raised will be split 50-50 between the two cities.
Eligibility requirements
To be eligible, businesses must:
- Have had 50 employees or fewer on March 1;
- Be in good standing with regard to state and local taxes and licenses;
- Be an established and operational for-profit business within the boundaries of downtown Augusta or downtown Gardiner.
The money can be used for payroll (except owner compensation), utilities, rent, mortgage, insurance or similar expenses, and products directly used in production of a product for sale. Grants cannot be used for expenses that aren't related to the business, such as private debt, or for physical improvements to the building or space.
Factors that weigh into grant approval are:
- Type of business (restaurant/retail, hair care/wellness, service);
- Number of employees;
- Customer traffic;
- Plan for use of funding;
- Sustainability (determined through profit and loss sheets).
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