The Village of Schaumburg CDBG-CV Small Business Recovery Grant is now open to additional business types and contains revisions to the eligible use of funds.
Donor Name: Village of Schaumburg
State: Illinois
Town: Schaumburg
Type of Grant: Grant
Deadline (mm/dd/yyyy): Ongoing
Size of the Grant: $20,000
Details:
The CARES Act made available $5 billion in Community Development Block Grant (CDBG-CV) funds to be used to prevent, prepare for, and respond to the coronavirus (COVID-19). The Village of Schaumburg is allocating $462,827 for a small business recovery grant. To qualify for CDBG-CV funds, at least 51 percent of payroll hours must be held by low- to moderate-income individuals as defined by HUD.
Funding Information
Applications will be reviewed and awarded on a first-come, first- served basis until all funds are disbursed. Maximum award amounts are based on total weekly payroll hours below:
- 20-39 Weekly Payroll Hours: $5,000
- 40-120 Weekly Payroll Hours: $10,000
- 121-240 Weekly Payroll Hours: $15,000
- 241+ Weekly Payroll Hours: $20,000
Approved uses of funds
- Rent or mortgage up to three months not to exceed 50% of total grant award.
- Technology that improves customer experience, safety, pickup, and delivery platforms or website upgrades to allow for online ordering.
- Marketing Campaign-must have/will have a written marketing campaign plan or using funds to hire marketing firm.
- Workplace protective equipment used to respond to COVID-19 (masks, gloves, sanitizers, sneeze guards, partitions, etc.)
Eligibility Criteria
Business Owner
- Must be in good standing currently and over the past five years with all Village departments and programs including, but not limited to, any CDBG funded programs, property code compliance, permits and zoning compliance, licensing, etc.
- Commit to providing receipts and invoices demonstrating use of funds, project progress, and quarterly job retention documentation to the Village of Schaumburg. Failure to do so involves recapturing of funds.
- Must not have ownership in more than one chain or franchise unit.
Business
- Businesses part of a chain or franchise if owned by a single unit owner
- Have been in operation in Schaumburg prior to April 1, 2020 per village-issued business license
- Demonstrate that the COVID-19 outbreak caused a decrease in revenue of at least 20% based on a comparison of 2019 and 2020 tax returns.
- Have at least .5 FTE position/s (20 weekly payroll hours) not including owners, shareholders, contract employees, 1099 employees
- Have no outstanding tax liens or legal judgements or village fines or overdue fees
- Not on Federal Debarred List-System for Award Management(SAM)
- Not on the ineligible applicant list below
- Businesses who received previous Village of Schaumburg assistance may be considered.
For more information, visit CDBG-CV Small Business Recovery Grant.
