Last Round Of Restart Tuscaloosa Business Funding Doles Out $84k

TUSCALOOSA, AL. — The Tuscaloosa City Council on Tuesday received an update on the last round of Restart Tuscaloosa funding from the city's Small Business Relief Fund, which brings the total given to local businesses to $1 million. In all, 38 businesses received money in the seventh and final installment following a rigorous vetting process.

Jim Page, president and CEO of the Chamber of Commerce of West Alabama, presented the update to the Council and said $84,279 had been awarded to businesses to finish out the initiative.

"The average award amount is less than in previous rounds, and that’s because we had more applicants than funding," Page pointed out. "The committee wanted to spread the wealth and help as many people as we could that met the criteria."

Page said a total of 407 businesses applied within the city of Tuscaloosa, with 70% given the initial green light by the city to proceed.

The effort was the brainchild of Chamber Board of Directors Chair Bobby Bragg, who told Patch that these businesses helped were not just restaurant and shop owners, but neighbors and friends.

"It’s very rewarding to go from crisis to idea to awards so quickly," he said. "Many businesses have said that it was the lifeline they needed at their most critical hour."

Bragg also wanted to remind the community that in addition to the $1 million Restart Tuscaloosa funds, the initiative has also raised private dollars and distributed $251,750 to 121 businesses through that effort.

A breakdown of the $1 million Restart funds was provided, showing the award amounts by council district and the businesses who received funding. Page then said while the Small Business Relief Fund will remain active, the seventh round of funding closes the book on the $1 million Restart Tuscaloosa initiative.

In all, 230 Tuscaloosa businesses have received funding since June, with an average award amount of $4,348.

"We had several of those apply and we didn’t tell them no because they were green-lighted, but they didn't quite meet the criteria as others who had overhead expenses," Page said. "In this final round, the committee had very few proceeds to deal will and made hundred dollar contributions."

District 4 Councilman Lee Busby's district received the most funding, due to it having the most applicants. In round seven, District 4 was on the receiving end of $34,000, bringing its total to $295,150 since the funding effort began in June.

"This is very consistent with the percentage of applications per district," Page said as he presented the numbers.

Another important data point, Page said, came in the form of 153 businesses receiving funding who were not dues-paying members of the Chamber.

"We’ve had countless heartfelt conversations with people who have received this money and tell us what a game changer this has been for them," he said. "I wish we could have helped even more, but we had more need than dollars to go around. This effort may not save every businesses … but I can stand before you today with all sincerity and all confidence to say that there are businesses in the city of Tuscaloosa that would not be open today had you not step in and helped out during this process."

Mayor Walt Maddox praised the initiative and those who made it possible, saying the city followed the Chamber's lead throughout the process of Restart Tuscaloosa.

"Our investment was the direct result of the good work you were already doing," Maddox said.