City commits nearly $7M to Fighting Chance Fund

ST. PETERSBURG — The city of St. Petersburg has committed $6.8 million to the Fighting Chance Fund, an emergency grant for locally owned and independently operated small businesses in the city negatively impacted by the coronavirus pandemic.

“The fund is expected to provide critical support to about 1,000 restaurant, bar, retail and service-based businesses and their more than 3,000 eligible employees,” the city states on the fund’s website. “The city's goal is to help offset the significant, temporary loss of revenue during this global pandemic.”

The program provides grants — not loans — in the form of $5,000 to impacted eligible businesses and $500 to impacted eligible individuals. For more information or to apply, follow this link. 

Criteria for eligible businesses and individuals includes:

·    Independently-owned and operated small businesses within St. Pete;

·    Restaurant, bar, retail and service;

·    Physically located in St. Pete;

·    25 or fewer employees;

·    Current St. Petersburg Business Tax Receipt;

·    Business must be at least 50% locally owned by residents of St. Pete;

·  Affirm a loss of revenue due to COVID-19

·  Must be able to demonstrate working capital for business operations as of February 28

·    Employees who reside in St. Pete who were terminated, furloughed or whose salary has been reduced at least 50% from an eligible business