The deadline is fast approaching for Covington small businesses to apply for the city’s latest funding assistance offered through the award-winning Small Business Incentive Program.
Covington hopes to award approximately $35,000 in this round through a competitive application process, along with three types of incentives.
• First year rent up to $500 per month.
• A forgivable loan equal to the investment made on exterior improvements to a commercial building up to $6,000.
• Forgivable loans of up to $7,500 to restore historic electronic signs.
This is the first of four rounds of funding for fiscal year 2024-2025. Last year, the city invested a total of $113,424 in 20 businesses. Since the program began in 2017, the city has invested in 148 businesses in Covington.
“Please apply,” said Patrick Duffy, a business retention and expansion specialist in Covington. “This is really helpful for businesses in areas that need a boost.”
One of the recent recipients, Jared Gabbard, chief administrative officer at Safewave Technology, 2 W. Pike St., said the program’s rent assistance has made the transition from working from home to working in an office much easier for Safewave.
“The rental assistance provided by the city of Covington has made the transition from working from home and at stores like Starbucks much easier,” Gabbard said. “This assistance has lifted a huge weight off our shoulders, and we look forward to giving back to the city and giving back even more.”
To apply, contact Patrick Duffy at (859) 292-2141 or PDuffy@covingtonky.gov. The program application and guidelines are available at thecovky.gov.
City of Covington
