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Grant program awards funding to 20 local small businesses

Posted: February 2, 2010 2:13 p.m.
Updated: February 3, 2010 2:11 p.m.
 
The Redevelopment Agency of the city of Santa Clarita (Agency) awarded $5,000 grants to 20 Newhall Redevelopment Project Area small businesses at its Jan. 12 Meeting. Made possible through funding from the Agency's Small Business Grant program, the effort is part of the city's 21 Point Business Plan for Progress.

The Newhall Redevelopment Small Business Grant program (NRSBG) is designed to provide financial assistance to local small business owners to make enhancements to their business, as well as encourage business growth and sustainability in the Newhall Redevelopment Project Area.

"The city of Santa Clarita created the 21 Point Business Plan for Progress to boost the local economy and support local businesses," stated Mayor Weste. "The Newhall Redevelopment Small Business Grant Program is a great way to assist our local businesses and support their individual initiatives and needs."

Funding will assist awarded businesses with financial and business management resources in an effort to create, grow, and retain small businesses within the city.

To qualify for the NRSBG, businesses needed to be within the Newhall Redevelopment Project Area, identified as a "small" business (no more than 25 full-time employees), and in good standing with the city. Grant applicants provided financial records, insurance documents, a comprehensive business plan indicating their commitment to their business, and identified how they would use the grant funding if awarded.

Applicant businesses also received assistance from the College of the Canyons' Small Business Development Center (SBDC) during and after the application process. The city also collaborated with the SBDC to offer a series of free workshops for business owners interested in learning more about creating a customer service-friendly environment as well as marketing outlets and trends.

Upon deadline, 27 grant applications were received from local businesses, of which 20 were awarded the grant funding. Grant monies will be available to awarded businesses beginning February 2010. Agreements will be executed between the businesses and the city for the use of funds and a post-grant assessment will be completed within six-months to evaluate the benefits of the program.

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