The ARPA Small Business Grant Program’s purpose is to offer financial assistance to small businesses located within Norcross city limits who have been negatively impacted by COVID-19, stabilize, and sustain Norcross businesses, and ensure they are able to retain employees.
Donor Name: City of Norcross
State: Georgia
City: Norcross
Type of Grant: Grant
Deadline: 08/21/2022
Size of the Grant: $15,000
Details:
To mitigate the impact of COVID-19 on Norcross’ small businesses and employees, the City of Norcross is investing $600,000 American Rescue Plan Act (ARPA) funding in an ARPA Small Business Grant Program, in partnership with Access to Capital for Entrepreneurs (ACE), to provide qualified small businesses with funding for operating expenses. Funds originate from the American Rescue Plan Act, which regulates how funding may be used. Grants may be used to pay:
- Rent, lease or mortgage costs,
- Utility bills,
- Payroll,
- Business-related insurance,
- Inventory expenses including covering any loss of inventory
- Other operating expenses
The ARPA Small Business Grant Program requires the small business grant applicant to demonstrate both need, and appropriate use of funds, by submitting appropriate financial documentation and receipts.
Funding Information
Grant awards are based on annual revenue in 2019:
- Annual Revenue of $25,000-$1,000,000 = $10,000 Grant
- Annual Revenue of $1,000,001 + = $15,000 Grant
Eligibility Criteria
- Operate a small business, having 1-10 full-time equivalent employees, from a commercial location within the city limits of Norcross, GA, on or before January 1, 2019, OR
- Operate a small business, having 2-10 full-time equivalent employees, from a home-based location within the city limits of Norcross, GA, on or before January 1, 2019
- Possess an active (not expired) City of Norcross Business License for years 2019 – 2021
- Demonstrate an annual revenue decline of 25% or more for tax years 2019 and 2020, because of COVID-19, and supported by appropriate tax documentation
- Have filed or completed tax returns for 2019 and 2020 in the business name
- Have not received a Paycheck Protection Program loan (PPP) or an Emergency Injury Disaster Loan (EIDL)
- Be recognized as a domestic corporation in good standing in the State of Georgia.
Small Businesses who received a PPP loan that was repaid may be considered for second round grant awards, if funding remains, after complete distribution of first round grants. Priority in the first round shall be given to small businesses who have not received PPP or EIDL loans.
For more information, visit City of Norcross.
