Small Business Economic Relief Grant
Potential Maximum Grant: Up to $20,000. Grant Application Period: (4 weeks) October 12-November 9th
- Individual businesses may receive this grant to offset costs resulting from business interruption due to COVID-19 experienced by the business between March 1, 2020, and October 10, 2020.
- Applicants may apply for the maximum $20,000.00 grant. Eligible grantees may be awarded funds in multiple disbursement rounds with an initial funding target of up to $10,000. The maximum amount of funding disbursed with any grant will be dependent on preference/prioritization, the number of applicants, and the total availability of funds, until funds are exhausted.
- At no point will the individual business receive grant funding that exceeds the actual loss amount demonstrated.
- Must show evidence that applicant business was financially impacted by COVID-19.
- Minimum application amount is $1,000.00.
Examples of Eligible Business: Gyms; beauty salons and barber shops; restaurants; retail establishments; lodging establishments, and other non-essential entities.
Examples of Eligible Expenses:
Commercial lease/rent/mortgage payments; utilities; loss of inventory; other business losses; and other expenses related to COVID-19 to reimburse the actual costs of business interruption and expenditures caused by required COVID-19 closures or partial closures, as verified with supporting documentation. Personnel expenses are not eligible for funding through this grant, unless the applicant received no funding through the federal PPP program.
Minimum Eligibility Requirements:
- Applicant business must be a registered business (possessing a business tax receipt) in Okaloosa County.
- Business applicant must be current on County business taxes and be physically located within and doing business in Okaloosa County.
- Applicant business must submit fully completed application, including certifications, affirmations, and acknowledgements
- Applicant business must be a for-profit business with a principal address in Okaloosa County (as reported to the Florida Department of State, Division of Corporations, i.e. “Sunbiz” or provide other suitable documentation if not required to be registered with the State of Florida) and show proof of operations as of March 1, 2020, and proof of operations as of date of grant application.
- Applicant business cannot be publicly traded or a component of a publicly traded entity.
- Applicant business must have a physical storefront in Okaloosa County.
- Applicant business must employ less than 250 employees
- Applicant business must demonstrate that business suffered COVID-19 related impacts (loss of revenue or increased operating expenditures due to COVID-19 business interruption).
- COVID-19 loss demonstrated must be an amount equal to or greater than the grant amount requested.
- Applicant business must have no current unpaid code enforcement liens, tax liens, or pending charges for violations of federal, state, or local laws/ordinances.
- Applicant business must not anticipate filing for bankruptcy or otherwise shutting down.
- Applicant must disclose and explain any other local, state, federal, or private funding received because of COVID-19. Examples include, but are not limited, to PPP, EIDL, Florida Bridge Loan, private loans, and insurance. In the event an applicant has received any other local, state, federal, or private funding as a result of COVID- 19, applicant must disclose and describe the amount of such funding received from each source, the purpose(s) for which such funding was utilized, and whether any funds remain unspent as of the date of the application.
- Applicant business must explain proposed use of grant funds.
- Applicant must attest that within the last five (5) years, no individual owning 20% or more of the equity of the business has been convicted of a felony, pled guilty, or pled nolo contendere to any felony involving fraud, bribery, embezzlement, or a false statement in a loan application or an application for federal financial assistance.
- Applicant must attest that neither the business nor any individual owning 20% or more of the equity of the business is presently suspended, debarred, proposed for debarment, declared ineligible, or involuntarily excluded from participation in any federal program, or presently involved in any bankruptcy.
- If the business previously received funding from an earlier County or City business grant program i.e. (Okaloosa County Small Business COVID-19 Recovery Grant), it will not preclude the business from receiving additional funding through this grant program, provided the substantiated losses are greater than the early grant amount or other assistance received.
Award Preference: Grants will be awarded based upon priority/preference as stated below, followed by the timing of submittal.
- Businesses temporarily closed or severely restricted by Okaloosa County’s or State Emergency/Executive Orders (i.e. limitations on occupancy) or other official actions or mandates (i.e. beach closure).
- Businesses with 100 employees or less.
- IRS Form 941 (at least two, recent filings, preferable from 2Q2020, 1Q2020), to indicate number of employees.
- Current business tax receipt and proof of currently being open for business.
- Disclosure of any other local, state, federal, or private funding because of COVID-19 applied for which are pending or approved for, and amount(s).
A completed and signed IRS W-9 form. Applicants may find this form at: https://www.irs.gov/pub/irs-pdf/fw9.pdf.
Applicant must provide documentation establishing the business experienced adverse financial impact due to COVID-19 by submitting one or more of the following:
- Sales and Use tax returns (DR-15s) filed with the Florida Department of Revenue from March, April, May, June and/or July 2019 AND the same month(s) in CY 2020.
- Bank account statements from March, April, May, June and/or July 2019 AND the same month(s) in 2020 to the extent they show a reduction in business revenue due to COVID-19.
- Certified Profit/Loss Statements and/or balance sheets from March, April, May, June and/or July 2019 AND the same month(s) in CY 2020 from a licensed outside financial accountant or bookkeeping firm.
- Verifiable documents, statements, or other information showing COVID-19 impact; loss of revenue, forced closure and business interruption (full or partial) due to state or County Emergency/Executive Order, or closure/partial closure due to loss of clientele.
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