Deadline: 19-Oct-20
The Savage EDA is ready to support local small businesses that have had financial hardship as a result of the COVID-19 pandemic, specifically targeting local businesses who have not received assistance from other pandemic related programs and businesses who have impacts that have exceeded other assistance received.
The goal of the program is to help non- profit organizations respond to the extraordinary needs of the populations they serve as a result of the COVID-19 pandemic. This initiative is being funded by the City of Savage’s allocation from the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act.
The Savage EDA’s Small Business Recovery Grant Program may not be used for the same expenses that were paid with funds from other COVID-19 related business assistance grant programs, including (but not limited to) the following:
- SBA Paycheck Protection Program (PPP)
- Economic Injury Disaster Loan (EIDL)
- Pandemic Unemployment Assistance (PUA)
- State of Minnesota Department of Employment and Economic Development (DEED) – Small Business Emergency Loan Fund (SBEL) or Minnesota Small Business Relief Grants
- State of Minnesota Peacetime Emergency Childcare Grants
- Local Scott County CDA, city, or township grants
For all the target area programs, funds can only be used for Federal CARES Act eligible COVID-19 related or incurred public health emergency business operating expenses, including expenses related to reopening as approved by Next Stage the Savage EDA.
Funding Information
- Grants will not exceed $10,000 and can be used to reimburse nonprofits for eligible expenses incurred as a result of the COVID-19 pandemic after March 1, 2020.
Eligibility Criteria
- To be eligible to receive CARES Nonprofit Recovery Grant Program funds, a business must demonstrate that its operations have been directly and adversely affected by the COVID-19 pandemic.
- Applicant must be established, operated and domiciled in the State of Minnesota.
- Applicant must either serve a minimum of 50 residents within the City of Savage in calendar year 2019 or expect to serve 50 residents in 2020, or be physically located within the City of Savage. If there is a parent organization/company or a second location, only the entity located in or serving residents of the City of Savage can apply to receive a grant and grant funds issued must be used for the local organization’s expenditures.
If your organization does not track residency (i.e., you serve homeless families) provide a narrative about the availability of services in City of Savage.
- Applicant must be a 501(c)(3) or 501(c)6 nonprofit organization or a 501(c)(9) veteran’s organization.
- Applicant must be able to demonstrate financial hardship as a result of the COVID19 outbreak.
- Applicant must be in good standing with the Minnesota Secretary of State and the Minnesota Department of Revenue as of January 1, 2020. If there is an issue pending with the Minnesota Secretary of State, Applicant may still apply for the grant, but will need to demonstrate the issue has been satisfactorily resolved in order to be eligible and receive grant funds.
- Applicant must be current on property taxes.
- Applicant must have been in operation since March 1, 2019.
- The City of Savage EDA will not disqualify an applicant if there was an organizational change and the nonprofit remained in operation since March 1, 2019.
- Applicant must disclose all federal, state or local grant or loan applications for which applicant have applied, which has been received or remains pending at the time of application.
Eligible Small Businesses
- Must be a locally owned and operated for-profit business with a physical
establishment in the City of Savage. - Must employ the equivalent of 50 or fewer full-time workers.
- Must be licensed, in good standing with the Minnesota Secretary of State and
Minnesota Department of Revenue as of March 1, 2020. - Must be in good standing with the City of Savage.
- Must demonstrate a significant loss in revenue or financial hardship since March 15
as a result of the COVID-19 pandemic (no credit score or collateral requirements
apply)
Ineligible Businesses
- Home-based businesses; those without a separate physical establishment in the
City of Savage - Non-profit, religious, or member-based organizations
- Corporate owned chains; however, locally owned franchise businesses are eligible
- Businesses in default conditions prior to February 29, 2020
- Businesses that primarily derive income from gambling,
- Businesses that derive any income from adult entertainment
- Businesses that primarily sell pawned merchandise, guns, tobacco or vaping products
- Businesses that derive income from passive investments; business-to-business transactions; real estate transactions; property rentals or property management; billboards; or lobbying
Applicants will be asked for documentation demonstrating a direct financial impact to their business due to the COVID-19 pandemic.
For more information, visit https://www.cityofsavage.com/business/economic-development/covid-recovery-grant-programs