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RFH 2010, News

PCD Preparing Micro-Grants Program for Businesses

Thu, Jul 15, 2010

Businesses in the Hamilton area have the opportunity to receive some financial assistance thanks to a grant from a county economic development organization to a local one.

The Partnership for Community Development (PCD) received $35,000 the Madison County Industrial Development Agency to create a micro-assistance program for businesses in the Town of Hamilton. The small-scale grants will assist corporations, partnerships, LLC or sole proprietorships seeking funds for a project that will stimulate new business, according to the PCD. 

The PCD will reward selected qualified applicants with funding of up to 75 percent of the cost of a particular project.  The remaining 25 percent will be the responsibility of the business.  A minimum grant will be $750 for a $1,000 project and the maximum amount will be $4,500 for a $6,000 project, according to a statement from the PCD.

“This grant affords those businesses with entrepreneurial spirit and direction the opportunity to obtain seed money for a project they feel will bear fruit for their business," said Roger Bauman, managing director of the PCD.  "If our business community prospers, the entire community benefits.”

The PCD sought to create the grant program in response to comments from business owners at a meeting it held with restaurant and retailers in the village. 

The Micro- Assistance Program is still being organized, but the PCD expects to be in operation between now and the end of August. Interested businesses will be asked to fill out an application that will be considered  by the Micro-Assistance Review Panel.

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