News

Small businesses: Apply for $$$ by July 19

City offering help paying startups’ rent, renovating exteriors,

restoring electric signs

COVINGTON, Ky. – The deadline is approaching for small businesses in Covington to apply for the latest round of City funding offered through its award-winning Small Business Incentive Program.

Covington hopes to award about $35,000 during this round under a competitive application process, with three types of incentives:

  • Up to $500 a month for first-year rent.
  • A forgivable loan of up to $6,000 to match investment dollar-for-dollar in fa├žade improvements to a commercial building.
  • A forgivable loan of up to $7,500 to restore a historic electronic sign.

This is the first of four rounds of funding for the 2024-2025 fiscal year. Last year, the City invested a total of $113,424 in 20 businesses. Since the program’s inception in 2017, the City has invested in 148 Covington businesses.

“I strongly encourage people to apply,” said Covington Business Retention and Expansion Specialist Patrick Duffy. “This is real help for businesses, in areas where they can use a boost.”

One recent recipient, Jared Gabbard, chief administrative officer of Safewave Technology at 2 W. Pike St., said the program’s rent subsidy made Safewave’s move from work-from-home to office much easier. 

“The rent subsidy provided by the City of Covington has greatly eased our transition from working at home and in places like Starbucks,” said Gabbard. “The assistance has lifted a significant burden from our shoulders. We look forward to the day when we can give back to the city and do even more in return.”

If you’re interested in applying, contact Patrick Duffy at (859) 292-2141 or at PDuffy@covingtonky.gov. Applications and guidelines for the programs can be found at  https://thecovky.gov/incentives-resources/

 

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