Small Business Resiliency Micro-grants

March 26, 2020 / / Uncategorized

Small Business Resiliency Micro-Grant

A micro-grant program activated by funds from the Department of Economic Development to assist small businesses in The City of Frederick impacted by the COVID-19 pandemic and affiliated State Executive Orders *

Program Overview: 

  • One-time grant award of $2,500 with no repayment due (This is not a loan)
  • Limited to one award per business entity
  • Eligible grant uses: building rent; mortgage payments; utilities

Criteria for Eligible Businesses: 

  • Must be a registered business entity in good standing with the State of Maryland
  • Have physical establishment within The City of Frederick
  • Have no more than 15 Full-Time employees (as of March 1, 2020)
  • Engaged in activities currently regulated or impacted by the COVID-19 Maryland’s State of Emergency and have a license/permit associated to that regulation
  • Have no pre-existing tax liens or legal judgements
  • Demonstrate a loss of business revenue of 50% or more related to COVID-19
  • The following entities are NOT eligible:
    • Home-based businesses
    • Churches
    • Non-profit organizations
    • Banks & financial institutions
    • Investment real-estate entities
    • Food trucks
    • Government agencies

Application and Review: 

  • Applications are available online here.
    • A PDF version of the application is available by request.
  • Applications will be processed on a first come, first serve basis – with five initial grants designated for each City business district (North, South, East, West, & Downtown) through April 15, 2020. After April 15, micro-grants will be awarded to eligible businesses in order of application submission, regardless of business location.
  • Applications will be reviewed by the Department of Economic Development staff.

Additional Information: 

  • This funding CAN be combined with other funding sources, tax credit programs, and state grant or loan programs.
  • Awardees will be required to complete a disbursement form and must be able to produce receipts.
  • Awardees will agree to report basic employment and business data for up to 2 years after the grant is issued so the program can track progress and success.
  • Private donations to assist this program can be made through the Community Foundation’s Economic Development Fund.
  • Awardees consent to be included in marketing and promotional materials.

Questions?

Contact the Department of Economic Development at 301-600-6360 or at business@cityoffrederickmd.govfor additional information.