Hardship Grants Awarded

Cambridge Businesses Awarded Hardship Grants
Posted on 03/02/2020

Three local businesses were recently awarded one-time Hardship Grants from the Cambridge Economic Development program:  Blooms, Cambridge General Store and Town Talk. Grants were in the amount of $5,000 each and were awarded from LB840 funds (local sales and property tax revenues).

The grants were made available as a result of the direct negative economic impact the Downtown Project had on the business district. 

“Downtown Cambridge truly is the heart of our town, and during the months of September through November we witnessed businesses struggling,” said Tom Shoemaker, chair of the Economic Development Board. “Shop and restaurant owners got creative through holiday events and social media, but this grant was one way for Economic Development to utilize LB840 tax dollars in an effort to help them stay in business and help our community continue to thrive.”

To qualify for the grant, businesses had to prove a clear, demonstrated need; provide sales tax receipts for the months of Sept. 2018-Nov. 2018 and the same months in 2019 for comparison; a profit/loss statement; company history and projected economic impact on the community over the next five years; and, an overview of how the funds would be used.

Upon being awarded the grant, one applicant said, “We can’t thank Economic Development enough. First, this shows how much you sincerely care about Cambridge businesses and us personally. These funds will do so much for our business.”

The Economic Development Board remains committed to helping local businesses, and families, grow and succeed.