Hamilton The Partnership for Community Development, Hamilton’s nonprofit economic development agency, has announced the reprise of its popular Micro-Assistance Grant (MAG) program for local small businesses. These grants are intended to encourage small businesses to undertake new and innovative projects.
Only for-profit corporations, partnerships, LLCs or sole proprietorships located in Madison County and within a 15-mile radius of the town of Hamilton are eligible. If the business has been in operation less than one year, applicants are required to provide a formal business plan upon submission of application. Completed applications must be received by March 21 to be considered.
Businesses wishing to apply for MAG funding must submit a complete application (available by emailing firstname.lastname@example.org) before 5 p.m. on March 21. Applications that are incomplete or submitted after that time will be disqualified, as will any applications from businesses that are not current with all property and sales taxes, are not operating with all required permits and licenses or are not otherwise conforming to required laws.
As with the 2012 MAG program, applicants must provide 25 percent of the funds required for the project for which the grant is awarded (in-kind contributions will not be considered); the grant provides the remaining 75 percent.
Applications will be judged on a competitive basis by a MAG Committee, which will then make recommendations to the PCD Board of Directors, who will make the official determination on grant awards by April 15. The minimum grant awarded will be $750 (for a $1,000 project) and the maximum will be $4,500 (for a $6,000 project). For projects exceeding $6,000 in cost, the remainder of the project cost must be paid by the applicant.
Examples of potentially eligible projects include purchase of machinery, equipment or technology, the addition of inventory or raw materials, purchase and installation of fixtures or display units, property improvements to the business site, marketing or advertising or any other activity that the MAG Committee deems is aligned with the general mission of the program. Wages and salaries are not eligible activities for MAG funding.
The Partnership for Community Development is a non-profit community and economic development organization dedicated to enhancing sustainable economic opportunity and community vitality in the village and town of Hamilton and the surrounding region.