Fulton County may now offer grants to Fulton County businesses, including businesses in high-risk categories such as hospitality/tourism, food and beverage, personal care, professional services, and retail sectors. After meeting with OCRA (Indiana’s Office of Community and Rural Affairs) officials last week, final grant application details were approved by OCRA for the COVID-19 Immediate Response Grant Funding. The goal of this program, per federal requirements, is to retain jobs and 51% of the jobs retained must be held by LMI (Low to Moderate Income) persons. FEDCO is managing the grant application process for Fulton County, and OCRA staff will also review all applications. The eligibility requirements include the following:
- Nonprofits are not eligible per HUD Rules
- Businesses with less than $1 million in gross annual sales and fewer than 20 employees. Reminder: There is a requirement that 51% of jobs retained must meet the LMI (Low-to-Moderate Income) federal guidelines.
- Businesses who have been denied benefits from other federal or state programs or have been declared ineligible may receive priority
- Businesses must have incurred a business/financial loss due to COVID-19
- Businesses must be based in Fulton County
Applications are available online through this link and include the LMI forms for employee income verification: http://fultondevelopment.org/covid19-immediate-response-grant-application
All forms are due by Monday, June 1st, 2020, 12:00 noon. Applications will not be accepted after this time. The approximate date for funds release is the end of June. Each business may apply for a maximum of $10,000. As the county tries to assist as many businesses as possible, funds may be limited, and awards could be less than your request.
Businesses who wish to apply will need to include their Profit/Loss Statement for the period January 1, 2019 through December 31, 2019 OR Schedule C from their 2019 income tax return. Also, within one week of the day the completed application and Profit/Loss statement are submitted, EACH employee (and owners) must complete the Income Verification Form that is included in the application link, so that LMI income status can be verified.
For more information related to the application process, please contact Amy Beechy, Manager of Small Business Initiatives for FEDCO at firstname.lastname@example.org or telephone 574.709.7955.