City of Hopkinsville Chief Financial Officer Robert Martin announced Thursday morning the availability of much-needed funds for small businesses to offset losses caused by the coronavirus pandemic.
As previously reported by the News Edge, the city council approved the Small Business Stimulus Program at a special called meeting Tuesday night. The funding for this program is part of the CARES Act funding received by the city from the state.
According to Martin, the support is offered in the way of stimulus funds available to eligible small businesses as follows:
– Up to $750 for Sole-Proprietor, Partnership, LLC, etc. businesses who do not submit city payroll withholdings
– Up to $2,000 for businesses who do not submit city payroll withholdings
Martin said the stimulus funds will be paid on a first-come, first-serve basis until funds are expended. However, he adds a minimum of $50,000 has been reserved for Sole-Proprietor businesses.
Eligibility
To be eligible for award consideration, businesses must:
– Have experienced a loss due to COVID-19
– Have their Corporate Headquarters located within Christian County, Kentucky
– Have a current Hopkinsville Business License
– Have paid the Minimum Net Profit License Fee of $250 for tax filing year 2019
– NOT have paid a Net Profit License Fee greater than $1,500
– NOT be delinquent on any taxes owed to the City of Hopkinsville – including but not limited to Licenses/Payroll/Property taxes as of September 1, 2020
– Have 25 full-time equivalent employees or fewer
These businesses are NOT eligible for the stimulus:
– Zero return filers
– Rental Businesses (Filing Schedule E)
– Businesses with Net Profits greater than $100,000
As previously reported, eligible businesses may begin submitting applications for funding beginning Monday morning, November 2, at 8:00. Applications can be completed one of two ways: Submit an application online by clicking here; or pick up a paper application beginning Friday, October 30, from the Hopkinsville Municipal Center, Hopkinsville-Christian County Library, or the Christian County Chamber of Commerce.
All completed paper applications must be returned to the Hopkinsville Municipal Center located at 715 South Virginia Street. Officials say paper and online applications must be received no later than 4:30 the afternoon of November 16. After the application is reviewed, officials said payment will be made on November 30 and December 15.
For additional information, call (270) 890-0239 or click here.
