Today, the Town of Colonie announced its first round of small business grant recipients as part of its new “Small Business Low to Moderate Income Job Retention Grant Program.” The program is awarding $20,000 to two businesses in this, the first round of the grants.
“These small business grant recipients are names and faces we all recognize, and I’m very pleased that we are able to provide another opportunity to assist them recover from financial losses suffered during the COVID-19 pandemic,” said Colonie Town Supervisor Paula Mahan. “Colonie remains committed to the success of small businesses here in the heart of the Capital Region.”
The recipients are:
- Good Karma Yoga Studio – Jessica Lubin, $10,000
- Martini’s Deli – David Coon, $10,000
The purpose of the grant program is to support small businesses of 10 employees or less, who have experienced a revenue loss of at least 25% as a result of COVID. The goal is to help secure these businesses, which employ many low- and moderate-income individuals. The program will also include specialized trainings to help business owners adapt to COVID.
Jessica Lubin says she is grateful for the assistance. “I started Good Karma Studio to introduce my love for aerial yoga with the Capital Region,” says Lubin. She’s expanded twice since 2011 and currently runs the thriving business from a large studio on Walker Way. COVID was a challenge, but the grant will help her cover payroll and keep her business open.
“Supporting small businesses preserves local jobs, and that’s especially important right now, when so many are looking for work,” says Linda MacFarlane, Executive Director for the Community Loan Fund of the Capital Region. The Community Loan Fund helped implement the program, which is funded through the U.S. Department of Housing and Urban Development (HUD). The Community Loan Fund worked with the Town of Colonie to coordinate and review applications and determine eligibility. Colonie expects to announce additional grant recipients in the coming weeks.