Ivey announces $100 million small business grant program “Revive Alabama”
MONTGOMERY – Governor Kay Ivey on Wednesday announced the Revive Alabama grant program to support small businesses in Alabama that have been impacted by COVID-19. Revive Alabama will reimburse small businesses up to a combined $100 million for expenses they have incurred due to operational interruptions caused by the pandemic and related business closures.
“In many ways, our small businesses were hit the hardest from the coronavirus pandemic,” Governor Ivey said. “Ensuring these owners have every opportunity to recoup expenses incurred due the disruption of business is essential to getting our economy roaring once again.”
Alabama received approximately $1.9 billion of CARES Act funding to respond to and mitigate the coronavirus pandemic. Alabama Act 2020-199 designated up to $300 million of the Coronavirus Relief Fund for individuals, businesses, non-profit and faith-based organizations directly impacted by the coronavirus pandemic.
Qualifying businesses may receive up to $15,000 to reimburse these expenses if they have not received federal assistance for the corresponding item they are claiming with the state of Alabama. There is no set cap on the number of businesses that may be awarded a Revive Alabama Small Business Grant. Grants will be awarded to qualifying applicants on a first-come-first-served basis until the funds are exhausted.
Business owners may access the grant application through the Alabama Department of Revenue’s (ALDOR) Revive Alabama website. The application period for the Revive Alabama Small Business Grant Program will open at noon on July 16, 2020 and run through midnight on July 25, 2020.
All applicants must first establish a secure My Alabama Taxes (MAT) account to protect their personal and business information on submitted applications. Small businesses are encouraged to start this process as soon as possible in advance of the application period opening. Each applying business must have its own MAT account to apply for a Revive Alabama Small Business Grant. Tax preparers may not apply for grants on behalf of their clients but may be able to assist potential applicants with information needed to establish their own MAT accounts.