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Deerfield Beach: COVID-19 Grant Assistance For Small Businesses

The City of Deerfield Beach is launching a COVID-19 Micro Enterprise Grant Assistance Program designed to support local small businesses affected by the COVID-19 pandemic.

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The city’s grant program will provide businesses up to $5,000.00 in financial assistance utilizing Community Development Block Grant (CDBG) funds. Assistance is to support businesses in meeting basic obligations such as business leases or mortgage payments, utilities payments, monthly debt payments, business payroll, business inventory expenses to remain viable, and to encourage businesses to maintain their labor force.

APPLICATION OPENS MAY 27, 2020

Micro-Enterprise businesses are considered businesses with 5 or fewer employees including the owner.  Income restrictions apply for this grant, the business owner must be low-to-moderate income or 51% of the employees must be low-to-moderate income. Recipients of COVID-19 Federal or State funds are ineligible.

Eligibility Criteria

A business owner/business may qualify for consideration provided it meets all of the following criteria.

  • Located within the City of Deerfield Beach
  • Operating for at least one (1) year
  • Five (5) or fewer employees, including the owner(s) and part-time and full-time employees, on the business payroll at the time of the application is submitted. Leased employees through another organization will be considered employees of the business
  • Private for-profit business
  • Second-income businesses are not eligible for this program
  • City Business Tax Receipt is required
  • Current on taxes
  • Provide sufficient information documenting that jobs would have been lost without this Grant Assistance Program
  • At least 51% of the jobs retained are held by a low-to-moderate income person. Income restrictions apply or businesses must be owned by persons with low to moderate income level

Ineligible Businesses

  • Real Estate Investment
  • Marketing
  • Adult Entertainment
  • Liquor and tobacco stores
  • Pawn Shops
  • Home based businesses
  • Sales of firearms or other weapon dealers
  • Currently bankrupt business (Corporate or Personal)
  • Nonprofit entities
  • Businesses that have conflict of interest with the City of Deerfield Beach

FUNDS AVAILABLE ON A FIRST COME FIRST SERVED BASIS

Required documents for applications include:

  • 2018 or most recent Federal Tax Returns
  • 2020 internally prepared financials through 2/29/20
  • Copy of lease agreement or most current mortgage payment receipt
  • Copy of 3 most current business bank statements
  • Copy of front and back of Florida Driver’s License
  • Self-Income Certification

To access the application, business owners need to register here.

For the Frequently Asked Questions, click here.

For additional information please contact the Economic Development Department at (954)395-6051 or GChazu@deerfield-beach.com

 

LOCAL NEWS
Author: LOCAL NEWS

This post was prepared by staff at Point! Publishing. For inquiries call 954-603-4553.

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