The City of Rancho Cordova’s Recovery Grants is a grant program to support local businesses and nonprofit organizations that are experiencing economic hardship from the COVID-19 pandemic.
Donor Name: Rancho Cordova Recovery Grants
State: California
City: Rancho Cordova
Type of Grant: Grant
Deadline (mm/dd/yyyy): 01/24/2022
Size of the Grant: $40,000
Details:
The city will provide grants of up to $40,000 to businesses and $5,000 to $10,000 grants to nonprofit organizations that are located in the city and serve the Rancho Cordova community.
Who Can Apply
1. For Business
Rancho Cordova Recovery Grants offers up to $40,000 to eligible businesses with no more than 25 full-time equivalent (FTE) employees and less than $3 million in annual gross revenue in 2020. Awards will be given based on whether the eligibility is met, the demonstrated need of the business due to COVID-19, and the quality of the application.
Available Funds
Available funds are limited and not all eligible businesses may be assisted. Grants will be awarded to qualified/eligible businesses within each of the following funding allocation levels using a random selection process:
- Up to $10,000 for businesses with annual gross revenue from 2020 that is less than $249,999
- Up to $20,000 for businesses with annual gross revenue from 2020 that is between $250,000 and $749,999
- Up to $30,000 for businesses with annual gross revenue from 2020 that is between $750,000 and $999,999
- Up to $40,000 for businesses with annual gross revenue from 2020 that is between $1 million and $3 million
Priority Businesses
Priority 1:
- Retail
- Restaurants
- Other Hospitality
- Health & Fitness
- Arts & Entertainment
- Wineries, Breweries & Distilleries
- Daycares
Priority 2:
Business Eligibility Requirements
A business must meet all of the following criteria to be eligible to receive a grant:
- The business is an existing for-profit business with no more than 25 full-time equivalent employees (“FTEs”) and no more than $3,000,000 in annual gross sales as of December 31, 2020. An FTE is defined as an employee who works at least 2,080 hours per year over a 12-month period. Part-time employees may be considered an FTE employee for purposes of this Program (for example, two part-time employees who regularly work 1,040 hours per year can be converted to one FTE and identified as one FTE on the Program application).
- A business is defined as a sole proprietorship, a partnership, a corporation, a limited liability company, or other lawful business entity with an active registration to operate within the State of California and engaged in for-profit operations.
- The business is physically located within the boundaries of the City of Rancho Cordova. Check your address.
- The business must have been opened and operational by June 1, 2020.
- The business must demonstrate a need for funding due to the impacts of COVID-19 that have not been covered by funds received from other COVID related programs (e.g., SBA PPP, SBA EIDL, CA Relief Grant Program, and Insurance). Examples include but are not limited to:
- Proof of a loss of revenue due to COVID-19.
- Receipts for purchases made to support business operations through new requirements due to COVID-19 that have not been covered by funds received from other COVID related programs.
- Documents indicating debt related to shuttered business operations.
- Proof of high interest business debt (interest rate of 12% or greater) incurred due to the impact of COVID.
- Quotes/invoices for modifications to business operations due to the impacts of COVID that have not been covered by funds received from other COVID related programs.
- For businesses with multiple locations, only employment and revenue figures for the Rancho Cordova
- location(s) can be used to qualify for a grant under the program, and all grant funds received must only be used to support Rancho Cordova business operations. Multiple locations within Rancho Cordova operating under a single business entity will be considered one business for purposes of the program.
- The business is in good standing with the City of Rancho Cordova (e.g., possess a valid business license and where applicable, is in compliance with all applicable zoning and permit requirements, is current on all city bills and obligations, and is not subject to any liens or judgments by the city-related to the business).
- The business is in compliance with all city, state, and federal laws and regulations related to the operation of the business.
2. For Non-Profit Organizations
Rancho Cordova Recovery Grants are designed to support organizations, programs and activities that are located within the city and serve Rancho Cordova residents. Organizations founded in 2021 or earlier are eligible to apply.
Eligible organizations include nonprofits with a 501(c)(3), 501(c)(4) or 501(c)(6) status under the Internal Revenue Service Code. For-profit entities and individuals are not eligible.
Available Funds
A total of $100,000 is available for eligible nonprofits, and each nonprofit may be eligible for a grant of $5,000 to $10,000. If funds become available through other sources, the city may request additional information from potential grantees.
Criteria
Eligible organizations must:
- Be located within Rancho Cordova and serve Rancho Cordova residents.
- Be in good standing with the California Secretary of State, if required by law to be registered.
- Demonstrate negative financial impacts directly related to the COVID-19 pandemic. This could be due to an increase in services provided, an inability to hold fundraising events, loss of revenue related to government mandated shutdowns, increased costs for complying with reopening requirements, or costs of new programming designed to assist those impacted by the pandemic and its economic effects.
For more information, visit Rancho Cordova Recovery Grants.
