Governor Announces $200 Million Small Business Grant Program
November 24, 2020
Governor Ivey announced the Revive Plus program as additional funding for small businesses, non-profits, and faith-based organizations. The Governor set aside $200 million in CARES Act funds for grants up to $20,000, available on a first-come, first-serve basis. The application period is short – November 23 through December 4 – so do not delay if you believe you qualify.
In general, grants are available to Alabama’s small businesses who had expenses caused by business closures from COVID-19. For real estate companies, review whether you qualify as an eligible business and, if so, whether you incurred eligible expenses. Highlights on these two factors are included below. It is important to note that the guidance is vague, so you should consider applying if you are a small business and have expenses that you would not have incurred but for COVID-19 business closures.
To find complete information and the application, click here.
Eligible businesses must meet the following criteria:
- Alabama-based (located and registered to operate here);
- Have a valid tax identification number;
- Either a business with 50 or fewer employees, a non-profit, or faith-based organization; and
- In business and fully operational on March 1, 2020 and still operational as of the application date.
While individuals are not eligible, sole proprietors or LLCs filing with the IRS as sole proprietors are eligible.
An eligible expense must:
- Be incurred by the business between March 30 and December 30, 2020;
- Be incurred due to the interruption of business caused by required closures from COVID-19;
- Not be for services outside the state;
- Not have been covered by another program, like the Paycheck Protection Program, Economic Injury Disaster Loan, or Pandemic Unemployment Assistance program; and
- Not used for costs covered by insurance, legal settlements, severance pay, or workforce bonuses.