Small Business Plan Competition meeting Jan. 14
Monday, January 7, 2019
The City of Greenville Office of Economic Development will soon host an informational meeting for all applying for the City's Small Business Plan Competition.
The meeting will be held on Jan. 14, from 11:30 a.m. to 12:30 p.m., in Meeting Room B of Sheppard Memorial Library, 530 Evans St.
The city is accepting applications for the competition, which awards grants of up to $30,000 as an economic incentive for creating or expanding businesses located in the center city or west Greenville redevelopment areas. The deadline for applications is Jan. 21.
Grants are awarded equally between the center city and west Greenville revitalization areas with as many as two grants for businesses in each area. Funds are distributed as a zero interest loan forgivable over a three-year period at one third of the award per year for each year the business operates within the approved area.
Business plan submissions are limited to existing or start-up small for-profit businesses whose tangible net worth is not in excess of $7.5 million, and whose average net income after Federal income taxes for the preceding two completed fiscal years is not in excess of $2.5 million.
Since 2008, the competition has incentivized 38 small businesses within the designated redevelopment areas.