VERSAILLES, Ky. — Despite the economic impact of coronavirus, there's hope for small businesses trying to recover.
A new grant program, established by the Versailles Economic Recovery Act, will support local businesses impacted by the pandemic and have continued to pay fixed costs while revenue declines.
"The small business program was something we devised as a way to utilize our Cares money, to get funds back into the community, to help businesses sustain and come back, hopefully stronger than they were before the pandemic," said Brian Traugott, mayor of Versailles.
"There was a lot of money associated with the Cares Act to local governments. And one of the uses they allowed was economic grants for businesses that were impacted. So, that seemed to be the most impactful thing we could do," he added.
Local eatery Callie's Homestyle Restaurant hopes to feel that impact.
"We've lost so much in revenue. We need that capital to keep us going," said owner Judy Martin. "We have no idea what's going to be in the future, as far as the COVID and the pandemic. So, it's going to help us a lot."
A staple in Versailles, Callie’s Homestyle Restaurant has been locally owned and serving guests for the past nine years. Like other small businesses, the past few months have been tough.
"We've dropped off about 50%, which is a lot, but it's kept our head above water because we've had a lot of help from the mayor, Mayor Brian Traugott, who's been amazing. Without his help and him promoting the vouchers for the responders and the police and the Sheriff's department, I don't think I could've kept my head above water," said Martin "They have really, really helped us."
The Versailles Economic Recovery Act could provide as much as 75-hundred dollars to eligible businesses, a potential game changer for restaurants like Callie's.
"I don't know that I could go through another two months with only curbside and delivery. So, that will be a great cushion in case this happens again. And if it doesn't, it definitely will get used because we have lost so much in revenue," Martin said.
Applications for grants will be accepted between June 29 through July 17.