Spencer, IA (KICD)– Spencer Main Street announced the first winners of funding for its new Micro Grant program as part of its annual meeting on Monday.

Board member Eric Meeter tells KICD News the response from local businesses wanting a piece of the 20-thousand dollars was great and shows an interest in wanting to continue growing Downtown Spencer.

Meeter says each of the nine businesses that applied for the initial round of grants were asked to complete a series of steps that were then evaluated by the board.

In the end the money was split four ways with a variety of businesses benefitting.

The Main Street Micros Program is intended to disperse 40-thousand dollars to local businesses annually with half coming in the Spring and rest in the Fall.