ATLANTA — Atlanta small business owners could freshen up their storefronts with newly available grant funds. Mayor Andre Dickens announced the $3.5 million grant program Tuesday.
Small business owners can apply to the Commercial Property Improvement Grant program (CPIG) for up to $50,000 for exterior and interior enhancements to their business, according to the program.
The fund is made possible by a $20 million donation from Wells Fargo to help the owners of Atlanta small businesses fund physical upgrades to their facilities.
“Atlanta’s small businesses are the backbone of our economy and the primary job creators in our communities,” Dickens said in a news release. “Providing funding assistance for capital improvements and the purchasing of assets affords small businesses the breathing room needed to grow, become more resilient and provide more hiring opportunities. The CPIG is not just an investment in our business community—it is an investment in our people.”
Awardees must provide a match of at least 10 percent of the grant award and hold a current City of Atlanta business license, the criteria state.
Commercial properties have to be smaller than 15,000 square feet and at least 10 years old. Small businesses that own or rent their commercial property are eligible to apply. Businesses that lease space must have at least one year remaining on their lease and document approval from the property owner.
Grants are intended for improvements that will visually enhance the property and meet the following guidelines:
- Exterior improvements can include painting, lighting, windows, doors, signage, etc.
- Interior improvements should significantly enhance the customer and employee experience, such as flooring, walls and ceiling upgrades, HVAC, water heater, plumbing, electrical, and other systems repairs, etc.
Grant awardees will be selected by Invest Atlanta with a focus on supporting equitable economic development in the city and creating opportunities for more minority-owned small businesses to build wealth and prosper.
Invest Atlanta is hosting webinars to help business owners apply for the grant on Aug. 9. Click here for times and details.