On July 8, Governor Kay Ivey announced the creation of a $100 million small business grant program called “Revive Alabama.” The program is for eligible small businesses that have been affected by COVID-19 and related business closures. Alabama has designated a portion of its CARES Act funding to help small businesses affected.
Qualifying businesses can receive up to $15,000 as an expense reimbursement if they did not receive other federal assistance for the expense. The grants will be awarded on a first-come, first-served basis with no maximum number of grants. The application will be available starting at noon on July 16, 2020 and will run through midnight on July 25, 2020.
Qualifying businesses are based in Alabama, had no more than 19 full-time equivalent employees on March 1, 2020, incurred eligible expenses due to business interruption, and have average gross revenues less than $5,000,000.
To learn more about how this program impacts your specific organization, reach out to your Warren Averett advisor directly, or ask a member of our team to reach out to you.