All businesses must apply through an eligible DFI and meet the program requirements, which include at least the following: Keep in mind that not all assistance goes directly from the federal government to small businesses. Some funds are distributed to state and local governments and agencies, nonprofits, and colleges. These institutions, in turn, distribute the funds or use them to provide technical or educational assistance at the local level. How big are the prices? Grants are awarded in amounts ranging from $2,500 to $20,000. LISC will use the funds to provide grants to companies facing immediate financial pressure due to Covid-19. The COVID-19 Relief Pennsylvania Statewide Small Business Assistance Program will provide grants ranging from $5,000 to $50,000 to small businesses economically impacted by COVID-19. This is not a first-come, first-served program. In order to bring funds to companies in need as quickly as possible, the second application window will be the last opportunity to apply to the program. 1. meets the definition of an “eligible small business”. An “eligible small business” means (i) a “small business” (sole proprietorship, independent contractor, 1099 jobs and/or a registered “for-profit” business entity (p.B.
C Corporation, S Corporation, Limited Liability Company, Partnership) that generates an annual gross income of $2.5 million or less (but at least $1,000 in annual gross revenue) based on the most recent tax return) or (ii) a “small non-profit corporation” (registered 501(c)(3), 501(c)(19) or 501(c)(6) non-profit entity with an annual gross income of $2.5 million or less ( but at least $1,000 in annual gross revenues), based on the most recently filed Form 990) 2. Active or non-profit companies that have been operating since at least June 1, 2019 3. Businesses must currently be in operation or have a clear reopening plan once the State of California has approved the reopening of Business 4. The business must be affected by COVID-19 and health and safety restrictions such as business interruptions or plant closures due to the COVID-19 pandemic 5. Businesses must be able to provide organizational documents, including 2019 federal tax returns or Form 990s, a copy of the official statement to the California Secretary of State, if applicable, or the local community for the business, e.B any of the following: Bylaws, Organization Certificate, Dummy Registration Name, or Government-Issued Business License 6. Businesses must be able to present acceptable government-issued photo identification.7 Candidates with multiple business units, franchises, locations, etc. are not eligible for multiple grants and can only apply once if they use their eligible small business with the highest income Applicants can only apply for one business and must be 18 years of age to apply. For business owners with multiple businesses, please complete this application based on your largest business. Each grant is limited to one person/company. Recipient must fully comply with all applicable federal, state, local (and other state) laws, executive orders, rules, and regulations related to the use of grant funds. Some small business grant programs are limited to a specific demographic or business profile of a particular entrepreneur and often have an application process that is easier to navigate.
This is an example of a list, so be sure to check with nonprofits and large businesses in your geographic area or industry. Grants must be used for COVID-19-related losses or expenses incurred between March 1, 2020 and April 1, 2021. These include: COVID-19 Small Business Grant Recipients (A list of approved applications that received funding or signed a grant agreement on Saturday, November 28, 2020. This list is updated and published weekly.) What does it mean to be a “finalist” and will additional documents be required? If your company is selected as a finalist, you will be notified by email. Being selected as a finalist does not guarantee that you will receive a scholarship. As a finalist, additional documentation is required to review and review operational information for due diligence purposes, the parameters of which are required by the funding source. This may include a background search that LISC performs at our expense and the submission of additional information, including verification information such as date of birth, SSN, TIN/ITIN, EIN, W-9 and the corresponding banking information to receive money via ACH in case of attribution.. .