“Sadly, I would say that many of the businesses that needed this money have probably already gone under,” said Wade Preston, the co-founder of Prevail Union coffee on Montgomery’s historic Dexter Avenue.
) - Around $5 million in federal ARPA funds were allocated to Montgomery small businesses in 2021, and five years later, much of that money still hasn’t been distributed. It reverts back to the federal government if it isn’t spent by the end of the year.
“Sadly, I would say that many of the businesses that needed this money have probably already gone under,” said Wade Preston, the co-founder of Prevail Union coffee on Montgomery’s historic Dexter Avenue. Preston believes the money should have been in the hands of small business owners a long time ago. Instead, he says the money that has been distributed so far has gone to consultants, an underwhelming loan program, and Montgomery’s Small Business One Stop Shop . “I can see a need for consultants, now should half of all of the money that was earmarked for small business relief be going to consultants? I just don’t see how that’s helpful,” he added. In their first meeting in April, the city council voted to hire consultants to expedite the process of turning the fund allocation process from a loan program to a grant program. “How this money was initially budgeted to be spent through Hope Credit Union, that loan program has not come to fruition and we are in the last hours, so I understand why people are frustrated, why small businesses are frustrated,” said Andrew Szymanski, a Montgomery city councilmember that also has a stake in several local businesses. “I’ve had good conversations with the community and economic development director who has assured me that once this program is set up, they will rapidly make these funds available and help businesses get through the process which is the kind of customer service our city needs to be providing.” Szymanski added that this is a small portion of the complete amount of federal ARPA funds the city received, and he believes the majority of the money has been spent responsibly. He’s also looking into is how the portion of that federal funding that was marked to go towards serving the city’s homeless population was used, believing that could be another area of concern.Longtime WSFA Chief Meteorologist Josh Johnson announces departure‘We’re losing our youth’: Clayton leader calls for action following deadly weekend Pike County crash
Alabama News Federal Funds ARPA Prevail Union Coffee Montgomery’S Small Business One Stop Shop $5 Million Wsfa Wfsa
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