June 7 – Mayor Patrick Madden today announced grant awards for 30 small businesses impacted by the COVID-19 pandemic. The city is awarding $300,000 in grants as part of its Troy Small Business Grant Program, a program administered by the Community Loan Fund in partnership with the City of Troy.
Mayor Madden said, “While significant progress has been made to reopen our economy through vaccinations and science-based policy decisions, many of our small businesses are still reeling from the effects of the pandemic. This grant funding will help businesses recover lost revenue and welcome back customers as part of Troy’s economic recovery. We thank the Community Loan Fund for their partnership and assistance to administer this program, and applaud our federal leaders for approving this program to assist small businesses and entrepreneurs in need.”
Linda MacFarlane, Executive Director for the Community Loan Fund of the Capital Region said, “The Community Loan Fund is excited to help the Troy’s vibrant small business community. This funding and training will help put business owners on even footing again and help them come back from the devastating impacts of this pandemic.”
The businesses receiving grant funds are:
- Angela’s Bridal – $10,000
- Ashley Met Carmen LLC – $10,000
- Bard and Baker, LLC – $10,000
- Brino Incorporated dba The Ale House – $10,000
- Bundles of Luv – $5,000
- Carmen’s Bistro – $10,000
- Ekologic, inc – $10,000
- Fire and Ash – $10,000
- FlowActive, Inc. – $10,000
- Snap PhotoBooths – $6,000
- KONI’S Broadway Kafe’ – $10,000
- Lo Porto Ristorante Caffe – $10,000
- McAddy’s Pub – $10,000
- Muza Restaurant LLC – $10,000
- National Project Group – $10,000
- Pause Gallery/ Paradox Arts Partners, LLC – $5,000
- Primo Botanica Chocolate – $9,000
- Rare Form Brewing Company – $10,000
- Redfront Pizza LLC – $10,000
- Shmaltz Brewing Company / 518 Craft – $10,000
- Slavonian European Café – $10,000
- Sunhee’s Farm and Kitchen – $10,000
- The Dutch Udder Craft Ice Cream – $10,000
- The Hill at Muza, LLC – $10,000
- The Rolling Stock Company LLC – $10,000
- Troy Quick Shoe Repair Inc – $6,000
- Troy Threads LLC – $10,000
- UPPmarket, Inc. – $10,000
- Villa Valenti Pub – $10,000
- Will Kempe’s Players Cooperative – $9,000
Applications to the grant program are still being processed, and additional award announcements are expected.
The Troy Small Business Grant Program focuses on small businesses of 20 employees or less who have experienced a revenue loss of at least 25% as a result of COVID. The program will also include specialized trainings to help business owners adapt to COVID.
The program is funded through the U.S. Department of Housing and Urban Development (HUD) which has allocated $577,015 to the City of Troy as part of a Community Development Block Grant authorized by the Coronavirus Aid, Relief and Economic Security (CARES) Act of 2020.
This represents the fifth COVID grant program the Community Loan Fund has partnered on, and the first with the City of Troy. To date, the Community Loan Fund has helped local organizations and municipalities award $1,306,000.