Troy Chamber announces second round of small business grants

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Small business owners putting loans to good use

TROY, Ohio (WDTN) — The Troy Area Chamber of Commerce, along with Troy Main Street, the Troy Development Council and the City of Troy, announced the second round of small business grants.

The first round of funding awarded over $100,000 to 78 local businesses with grants ranging between $500 to $5,000, averaging around $700 to maintain or restart operations.

Eligibility requirements for the second round require a business:

  • To be a Troy business employing no more than 50 employees
  • To be located within an industrial, commercial or retail storefront within Troy City limits and not be a home-based/not-for profit business
  • To be open at least 3 months
  • One application per business
    • Note: Multiple businesses under the same LLC will be treated as one business
  • To be current in all local, state and federal taxes or assessments
  • To be impacted by the COVID-19 pandemic

The chamber said that grant funds can be used for operating expenses such as payroll, utilities and rent. Capital expenses related to COVID-19 may be considered in the second round of funding.

Typical grant awards will be up to $2,500, exceptional awards may be considered by the distribution committee. Businesses that received grants in the first round of funding are eligible to reapply.

Priority will be given to those that have not previously received funds from the program. The application deadline is Jan. 15, 2021 at 4 p.m. Applications may be submitted to the Troy Area Chamber of Commerce here.

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