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11-04-2020 Special Council Packet
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11-04-2020 Special Council Packet
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CITY OF LITTLE CANADA <br />BUSINESS RELIEF GRANT PROGRAM <br />FOR OFFICE USE ONLY: <br />DATE RECEIVED: AMOUNT REQUESTED: <br />DATE REVIEWED: TAX ID NUMBER: <br />PROGRAM OVERVIEW <br />PROGRAM DESCRIPTION <br />The City of Little Canada is offering a Business Relief Grant Program to support local businesses <br />impacted by COVID-19. The grant program utilizes funds that were received from the Coronavirus <br />Aid, Relief, and Economic Security (CARES) Act. Grants will be provided to reimburse <br />businesses for eligible expenses incurred after March 1, 2020, as a result of the pandemic. <br />Applications will be available online at the City's website beginning on Tuesday, October 20. <br />Grant applications will be accepted through 4:30 p.m. on Friday, October 30. Funding is limited. <br />The following is a summary of eligibility and terms of the program. <br />ELIGIBILITY CRITERIA <br />•Applicant must be a local business with a physical establishment in Little Canada. If <br />there is a parent company or a second location outside Little Canada, only the entity <br />located in the City of Little Canada will be eligible. <br />•Applicant must be classified by the SBA as a small business according to the North <br />American Industry Classification System (NAICS code). <br />•Applicant must be able to demonstrate financial hardship as a result of the COVID-19 <br />outbreak through a profit/loss statement or other financial documentation. <br />•Applicant must be in good standing with the Minnesota Secretary of State. <br />•Applicant must have been in operation 12 months prior to application. <br />•Applicant must be current on local property taxes and assessments. <br />•Applicant must be licensed, in good standing (if applicable). <br />INELIGIBLE BUSINESSES/RESTRICTIONS <br />GRANT AVAILABILITY / AMOUNT <br />•Home-based or non-profit businesses: Grants of up to $2,500 for eligible expenses <br />•Small businesses (1-14 employees): Grants of up to $5,000 for eligible expenses <br />•Small businesses (15 or more employees): Grants of up to $7,500 for eligible expenses <br />•Applicants who have previously received federal, state, or local grants for the same expenses. <br />•Multi-state chains are generally ineligible except for locally-owned franchisees. <br />•Businesses that primarily derive income from gambling or adult entertainment. <br />•Businesses that derive income from passive investments; for example, property rentals or <br />property management; billboards; or lobbying. <br />•Grant funds cannot be used as revenue replacement for the City of Little Canada <br />(Payment of property taxes, utility charges, or other government fees are ineligible.)
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