Empowering Fulton County Businesses
CDBG Microenterprise Grant Program
The Fulton County Center for Regional Growth (FCCRG) is thrilled to announce the availability of CDBG Microenterprise Grants to support small businesses within Fulton County.
These grants, awarded to Fulton County by the U.S. Department of Housing and Urban Development (HUD), offer up to $25,000 to assist with startup or expansion costs, ultimately creating jobs and boosting our local economy.
Who is Eligible?
Microenterprises:
Businesses with five or fewer full-time employees, with at least one owner among those employees.
Eligible Activities:
Manufacturing, warehousing, distribution, agriculture, high technology, research & development, and innovative small business endeavors. Retail projects within a town, village, or city’s main street will also be considered.
Business Structure:
Sole proprietorships, partnerships, limited liability companies (LLCs), and corporations.
Location:
Businesses must be located within Fulton County.
Feasibility:
Businesses must demonstrate a strong potential for long-term success.
How Can Grant Funds Be Used?
Capital Assets:
Purchase of essential equipment, machinery, and real estate.
Working Capital:
Support for day-to-day operations, such as inventory, marketing, and payroll.
Important Considerations:
Minimum Grant:
$5,000
Owner Contribution:
A minimum of 10% equity is required from the business owner.
Training Requirement:
Participation in the FCCRG’s Small Business Training Program is mandatory for all grant recipients. The program cost ($100) is an eligible grant expense.
Training Program Schedule:
Day 1 (January 6):
Introduction, Business Basics, Legal Issues, Employee Issues
Day 2 (January 13):
Marketing, Advertising, Social Media
Day 3 (January 21):
Business Accounting, Finance, and Taxes
Day 4 (January 27):
Developing a Business Plan, Success Strategies, Certificate Presentation
Grant Recapture:
If a grant recipient ceases operations or defaults on the grant agreement, funds may be recaptured. The recapture percentage decreases over time, with no recapture after five years of successful operation.
Ready to Grow Your Business?
The CDBG Microenterprise Grant Program provides a valuable opportunity for Fulton County businesses to thrive. For more information, application guidelines, and to learn how the FCCRG can support your business journey, please contact us at +1.518.725.7700