Small businesses with less than 25 full-time employees may be eligible to receive a working capital grant of up to $10,000. The grant may be used for working capital to cover the day-to-day business operating expenses such as rent, lease or mortgage payments, payroll, utility expenses, or other similar expenses. Funds may also be used toward the cost of obtaining, or reimbursement for, personal protective equipment or devices intended to enhance the safety of the business, staff, and customers in response to COVID-19. All grant funds must be used to prepare for, prevent, or respond to COVID-19 and documentation will be required in order to receive funding.
The grant application will open on Monday, May 3, 2021 at 9 a.m. and close on Monday, May 17, 2021 at 5 p.m.
Before applying, watch the webinar recording here to learn more about the program and eligibility.
Application/Documentation Requirements
The following documents must be submitted for consideration of a grant request:
Note: Additional documents may be required
To be eligible to apply for the SBEA Grant Program, a business must meet certain criteria that has been established by the CARES Act, CDBG-CV regulations and the City of Fountain Valley. All approved grantees must be the three qualifying requirements as listed below:
1) Business must have been affected by COVID-19.
The business applicant must provide documentation that their business has been affected by COVID-19 in one of the following ways:
2) Business Owner’s gross household income must meet HUD’s low-mod income limits
Under federal regulations, use of CDBG funds must meet certain national objectives to benefit persons of low- and moderate-income (low-mod). For the purposes of this program, the applicant must meet the following low-mod criteria to be considered for grant funding by providing documentation proving the following income level prior to receiving a business assistance grant:
The business owner’s current gross household income is at or below 80% of the Orange County median income, adjusted for household size as shown in the table below.
MAXIMUM Household – GROSS Income Limits as of April 2, 2021 | |||||||
1 person | 2 person | 3 person | 4 person | 5 person | 6 person | 7 person | 8 person |
$75,300 | $86,050 | $96,800 | $107,550 | $116,200 | $124,800 | $133,400 | $142,000 |
Gross Income includes: All gross income (before any deductions) for persons 18 years of age and older including but not limited to, wages, bonuses, unemployment, social security, pensions, disability, child support, alimony, asset income from retirement accounts, checking accounts, savings account, CDs, stocks, bonds, etc. | |||||||
3) General Terms and Conditions
The business applicant must meet the following minimum requirements to be considered for grant funding:
Eligible Use of Funds-Costs must be incurred due to COVID-19
The U.S. Department of Treasury has issued guidance on the use of funds and the following is a nonexclusive list of expenditures that shall NOT constitute Eligible Expenses payable from the awarded amount:
Funded in part through a cooperative agreement with the U.S. Small Business Administration.
Funded in part through a grant with the Governor’s Office of Business and Economic Development.
Mike Daniel is the network director of the Orange County Inland Empire SBDC Network, which assists aspiring entrepreneurs and current business owners throughout Orange, San Bernardino and Riverside counties. Mike was formerly the director of the SBDC office at Long Beach City College. As business owner and entrepreneur himself, he started his career as the owner of a Rocky Mountain Chocolate Factory location in Manhattan Beach and went on to open a second location in Long Beach in 2001. In 2007, Mike sold the Manhattan Beach store for an above-market offer then invested in several additional locations as a minority shareholder. Mike further expanded his candy empire with venture located in Shoreline Village in Long Beach called Sugar Daddies Sweet Shoppe, based on fill-it yourself candy options.
Mike has a bachelor’s degree in Business Administration from California State University, Fullerton.
