COVINGTON, Ky. — The City of Covington is looking to bolster its small businesses with the latest round of funding offered through its small business incentive program.
Since its inception in 2017, the program has invested in 148 small businesses in Covington, offering three different incentives:
- Up to $500 per month for a business's first year of rent
- A forgivable loan of up to $6,000 to match an investment dollar-for-dollar in facade improvements to a commercial building
- A forgivable loan of up to $7,500 to restore a historic electronic sign
"The whole idea was to be able to support those small businesses that are in their infancy ... and those businesses that are at the point where they're getting ready to grow," said Patrick Duffy, Covington's business retention and expansion manager. "Ultimately, success for this program is to see these companies start here in Covington and grow and add more jobs."
The city is underway with its first of four total rounds of grant funding this fiscal year, Duffy said, with an application deadline of July 19.
The city is looking to give out $35,000 this first round.
"Really, it helps if you can work with our team so we can tell you what you need to submit [for an application]," Duffy said. "It'll give you the highest possibility of scoring high on in the process."
Leslie Vickers, vice president of enterprises for Point Arc of Northern Kentucky, is currently receiving a rent subsidy for her Latonia business, Zels Pretzels.
"Covington realizes and recognizes as a city that there's a lot of value still left here," she said. "As a nonprofit, we need to watch every dime that we have, because it goes back to our individuals."
Zels Pretzels is run through the nonprofit Point Arc of Northern Kentucky. According to its website, the business's mission is "...to create 'ZEL-icious' snacks while providing opportunities for individuals with intellectual and developmental differences to reach their highest vocational potential."
Vickers said the grant helped Zels move out of an older, blighted location staff that Vickers said "did not feel was conducive to our individuals."
"It was not wheelchair accessible, we had to limit the individuals that came to work for us," Vickers said. "So we went on a hunt, and looked at several places, and this became available."
Without the rent subsidy to stabilize their move, Vickers said, "we would not be in business. There's no question we would not be in business."
Stacy Rodriguez, president and owner of Fedders Feed & Seed, utilized the city's facade renovation grant in 2023.
"We've had so many compliments about it," Rodriguez said. "Covington is is doing a wonderful job helping out with businesses and keeping them going and keeping them thriving."
