The City of Takoma Park’s Open for Business Grant encourages businesses to locate within the City or to expand their current Takoma Park space.
Donor Name: City of Takoma Park
State: Maryland
City: Takoma Park
Type of Grant: Grant
Deadline: All Time
Size of the Grant: $1000 to $10,000
Grant Duration: Grant Duration Not Mentioned
Details:
Open for Business Grants are funded through the City of Takoma Park’s Neighborhood Commercial Corridor fund, part of the American Rescue Plan Act (ARPA). This fund has $50,000 allocated for FY25.
Funding Information
Grants are capped at $10,000 for a single business and are calculated as follows:
- Ground-floor businesses outside the Old Town Commercial District may be funded at up to $6/square foot.
- Old Town businesses and upper-floor businesses elsewhere in Takoma Park may be funded at up to $4/square foot.
Eligibility Criteria
Eligible applicants are businesses that:
- Are opening or expanding in the City of Takoma Park, with an ownership deed or a signed lease of at least three years for the property with a start date no earlier than October 1, 2023;
- have not received prior funding from the City of Takoma Park;
- are in Good Standing with the State of Maryland;
- are in compliance with all City, County, and State regulations; and
- have a valid Use & Occupancy Certificate.
For more information, visit City of Takoma Park.
