ASHEVILLE, N.C. (828newsNOW) — The Asheville City Council approved $15.5 million Tuesday to support small businesses recovering from Tropical Storm Helene.
The funding, part of the city’s Small Business Support Program (SBSP), comes from the Community Development Block Grant–Disaster Recovery (CDBG-DR) program.
“This funding is a critical step in helping Asheville’s small business sector recover for the long term,” Elma King, CDBG-DR program manager, said in a news release. “We are grateful to be able to allocate these resources to trusted community partners who are deeply connected to local businesses, versed in regulatory compliance and can deliver support quickly and effectively. Together, this investment will help strengthen and diversify our local economy and support the long-term resilience of Asheville’s small business community.”
Four organizations were selected through a competitive application process to receive funding:
- Mountain BizWorks: $10 million
- ArtsAVL: $2.32 million
- Eagle Market Streets: $2.32 million
- Venture Asheville: $855,000
The organizations will establish grant programs to provide rapid and accessible support to businesses affected by Helene while ensuring federal compliance.
The city will next work with each partner to finalize funding agreements and program designs. Once agreements are in place, outreach and applications for eligible businesses will begin.
More information about the Small Business Support Program and the city’s CDBG-DR program is available here.