Alabama Gov. Kay Ivey today announced Revive Alabama, a grant program that will distribute up to $100 million for small businesses that incurred expenses when the COVID-19 pandemic caused interruptions in their operations.
“In many ways, our small businesses were hit the hardest from the coronavirus pandemic,” Ivey said. “Ensuring these owners have every opportunity to recoup expenses incurred due the disruption of business is essential to getting our economy roaring once again.”
Alabama received about $1.9 billion of CARES Act funding to respond to and mitigate the coronavirus pandemic. Alabama Act 2020-199 designated up to $300 million of the Coronavirus Relief Fund for individuals, businesses, nonprofit and faith-based organizations directly affected by the coronavirus pandemic.
Qualifying businesses may receive up to $15,000 to reimburse these expenses if they have not received federal assistance for the corresponding item they are claiming with the state of Alabama. There is no set cap on the number of businesses that may be awarded a Revive Alabama Small Business Grant. Grants will be awarded to qualifying applicants on a first-come, first-served basis until the funds are exhausted.
Business owners may access the grant application through the Alabama Department of Revenue’s Revive Alabama website. The application period for the Revive Alabama Small Business Grant Program will open at noon July 16 and run through midnight July 25.
All applicants must first establish a secure My Alabama Taxes (MAT) account to protect their personal and business information on submitted applications. Small businesses are encouraged to start this process as soon as possible in advance of the application period opening. Each applying business must have its own MAT account to apply for a Revive Alabama Small Business Grant. Tax preparers may not apply for grants on behalf of their clients but may be able to assist potential applicants with information needed to establish their own MAT accounts.