COVINGTON, Ky. — Thirteen Covington businesses will receive grants ranging from $11,200 to $50,000 to help them survive the pandemic, courtesy of an Emergency Business Assistance Program jointly funded by the City of Covington and the Kenton County Fiscal Court.
Four additional businesses could receive grants once their applications are reviewed.
The program’s primary goal is to protect jobs – particularly those for financially vulnerable families – and the businesses either employ low- and/or moderate-income residents or provide goods or services to them.
The City announced the grant program on Sept. 30 but quickly realized that the applications far surpassed the $350,000 in federal funds it had set aside. So Kenton County agreed to contribute $275,000 to the pool of funds.
In all, the City received 17 applications with requests totaling $729,860, said Jeremy Wallace, the City’s Federal Grants Manager. Four of the applications are still under review.
A staff committee reviewed the requests and made recommendations totaling $479,880:
- Parlor on 7th (restaurant) — $20,000.
- Braxton Brewing Co. — $30,000.
- Old Kentucky Bourbon Bar — $14,500.
- Up Over (bar) — $28,000.
- FamilyCare Counseling Solutions — $50,000.
- Olde Towne Tavern — $48,380.
- Molly Malone’s Irish Pub — $50,000.
- Otto’s (restaurant) — $42,000.
- Frida 602 (restaurant) — $37,800.
- The Standard (restaurant) — $48,000.
- Larry’s Dive Bar — $11,200.
- Blinker’s Tavern — $50,000.
- The Delish Dish (catering) — $50,000.
As part of the grant program, applicants must work with the Kentucky Small Business Development Center on business coaching, contingency planning, and accessing federal disaster loans.
The City used money it received from the federal Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to fund the program. Federal guidelines spelled out eligible activities/uses of the money. Among those was to avoid job loss caused by business closures related to social distancing.
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