The City of Gloucester is seeking applications for its federal Community Development Block Grant CARES Funds (CDBG-CV1) for the COVID-19 Small Business Assistance Program.
Donor Name: City of Gloucester
State: New Jersey
City: Gloucester
Type of Grant: Grant
Deadline: 11/01/2022
Size of the Grant: $7,500
Details:
The Gloucester City Small Business Assistance Program has been established to provide working capital funds to community businesses economically impacted by the COVID-19 virus. CDBG Small Business Assistance funds may be used to assist Gloucester City retail, restaurants, entertainment, and nonprofessional service businesses with no more than 25 employees (full time equivalent positions) that were in business as of December 31, 2019. To be eligible, the business must have one employee, which can be the business owner, who will be retained and meets the low/moderate income requirement; or the business must be located in an eligible program area.
Eligible businesses should have solid commitments to remain open or reopen, and retain or reemploy at least one permanent employee. Businesses deemed ineligible by the US Dept. of Housing and Urban Development will not qualify.
Funding Information
The program component makes funds available for 120 days of verifiable working capital up to a grant ceiling of $7,500.
Eligibility Criteria
The following requirements apply to all applications submitted for consideration under the CDBG-CV1 Program:
- The Business must be located within Gloucester City;
- The grant funds may be used to pay eligible expenses for a 120-day period;
- Applicant must provide list of expenses to be paid with grant application and backup documentation;
- All grants must meet the CDBG National Objective of Low/Moderate Income Benefit for the participating business. The business must provide documentation that it will retain at least one permanent position held by a low-or moderate income employee and that the jobs would be lost without the CDBG assistance. The business must document the income of the low- or moderate-income employee through a certification by the business owner that the position is held by a low-moderate income person (based on a one-person household) or the business can presume that the job is held by a low- or moderate-income person if 1) the employee resides in a qualified low-income area or 2) the business is located in a qualified low-income area. Applicant must provide list of employees and their salaries;
- Applicant must certify that they will remain open or reopen if grant funds are received. If the applicant does not remain open or reopen, the grant funds must be returned; and
- Applicant will be required to complete a grant application and sign a Participation Grant Agreement.
Eligible Activities
The business may use funds for working capital expenses. Eligible expenses include payroll, rent/mortgage, utilities such as internet or electricity, advertising/marketing, insurance and/or cost to comply with the State of New Jersey and any local social distancing policies. Public utility payments and taxes (unless they are in escrow and included in a regular mortgage payment) are specifically excluded from eligible expenses.
For more information, visit City of Gloucester.
