New $2 million coronavirus fund to aid small businesses in uptown Charlotte
Small businesses around uptown Charlotte struggling to stay afloat due to the impact of COVID-19 will soon be able to apply for grants of up to $40,000.
The Center City Small Business Innovation Fund, announced Wednesday, was created by a partnership between Honeywell, Charlotte Center City Partners and Foundation For the Carolinas.
The fund will support businesses adapting to a new economy amid the novel coronavirus pandemic. The program, which will prioritize minority, women and veteran-owned businesses, is launching with an investment of $2 million by Honeywell in partnership with Foundation For the Carolinas.
“Small businesses contribute greatly to Charlotte’s growth and vibrancy, and Honeywell is proud to support them in overcoming the challenges posed by the COVID-19 crisis,” Honeywell CEO Darius Adamczyk said in a statement.
The grants are not meant to be used for rent, payroll or operations, Charlotte Central City Partners CEO Michael Smith said.
“These funds are intended to be used by local businesses as they seek to innovate, to stay competitive and advance in this new environment,” he said.
Applications for the grants will open June 26. Small businesses in a 2-mile radius of Trade and Tryon Streets are eligible to apply.
Applicants will be asked to outline adaptations and innovations they will use to advance their businesses, as well as detail costs. More information can be found at http://www.charlottecentercity.org/innovationfund/.
The selection committee for the grants will be headed by Greg Lewis, Honeywell’s senior vice president and CFO.
Honeywell is a technology manufacturing company that moved to Charlotte in July 2019. Earlier this year, the company donated $500,000 for the construction of a new homeless shelter from the Men’s Shelter of Charlotte/Urban Ministry Center.
Charlotte Mayor Vi Lyles said the city is also putting together relief funding towards small businesses through the city small business fund.
“This is to help our business stay afloat when they have to do new things like provide (personal protective equipment) for their employees, provide ways they can clean and have protection so that their customers will come back,” she said. “The initiative today by Honeywell really helps complement the work that we’re doing.”
This story was originally published June 17, 2020 at 1:03 PM.
