Coventry Village launches $200,000 American Rescue Plan small business grants

The Coventry Village Special Improvement District announced a $200,000 grant program funded by the American Rescue Plan, offering awards of $15,000 to $75,000 to new and expanding businesses in the district. The SID says grants will require matching investment or in-kind contributions and will be reviewed monthly on a rolling basis.

The Coventry Village Special Improvement District has launched a new small business grant program funded through the American Rescue Plan Act. It is open to both start-ups and existing tenants or owners within the Coventry Village district. The program totals $200,000 and will award individual grants between $15,000 and $75,000. The SID said awards will require matching investment or in-kind contributions from building owners and may cover startup costs, renovations and related expenses. Key details: - Total program funding is $200,000, with grants ranging from $15,000 to $75,000. - Eligibility includes new and expanding businesses located in the Coventry Village district, including start-ups and existing tenants or owners. - Grant awards will require matching investment or in-kind contributions from building owners, according to the SID. - The SID said the selection committee will review applicants monthly on a rolling basis and hopes to have leases signed by the end of April and to expend the funds by year-end. - The program is described as aligning with other public and private investments in the area, including public art, the renovated Coventry PEACE Park and improvements to nearby community amenities. Summary: The SID frames the grant program as a direct investment in the small business community, intended to connect entrepreneurs with vacant spaces and respond to local interest in co-working, galleries and gathering places. The selection committee is reviewing applications monthly on a rolling basis and aims to have leased spaces by the end of April and to spend the funds by the end of the year.