The City of Takoma Park is awarding grant funds to support local small businesses in the City. The Department of Housing & Community Development is releasing these funds as a grant to eligible small businesses.
Donor Name: City of Takoma Park
State: Maryland
City: Takoma Park
Type of Grant: Grant
Deadline: 04/14/2022
Size of the Grant: $5,000
Details:
Priority of Funding
City of Takoma Park staff will make discretionary grant award decisions after the application deadline. Staff will prioritize funding based on:
- Business Revenue: the grant award cannot exceed 50% of the business’s annual revenue (for example, if a business demonstrates an annual revenue of $5,000, they will only be eligible for a maximum grant award of $2,500);
- Business Location: efforts will be made to ensure an equitable geographic distribution of grant awards;
- Prior COVID-19 Relief Awards: businesses that have not received funding from other government COVID-19 relief programs will be prioritized;
- Minority-Ownership: businesses with minority, women, and/or local ownership may be prioritized.
Funding Information
The City anticipates awarding maximum grant awards of $5,000 per business in order to provide as many grants as possible.
Eligibility Criteria
The Takoma Park Small Business Support Grant is intended for any business that operates with a legal business structure in the State of Maryland and either produces goods or offers services within the City of Takoma Park. This includes home-based and co-working businesses within the City boundaries.
To be eligible for the grant, a business must meet all the following criteria:
- Be located within the City of Takoma Park.
- For the purposes of the grant, a business must either: 1) have a retail or office location within the City or 2) produce goods or offer services within the City.
- Businesses with multiple locations may only submit grant applications for one location.
- Be in Good Standing with the State of Maryland.
- Sole proprietors and self-employed individuals are eligible to apply if they can submit alternate verification of payment of business income taxes.
- Business owners without Social Security Numbers can apply as long as they meet the eligibility criteria and have an Individual Taxpayer Identification Number (ITIN).
- Submit a completed application by the application deadline.
For more information, visit Takoma Park Small businesses Support Grant.
