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Kent County Small Business Recovery Program

Kent County Small Business Recovery Program – $5M Allocated to Businesses Closed by Executive Order

CLOSED BUSINESSES APPLY HERE  aplique aquí

ANNOUNCEMENT: $5M ALLOCATED TO BUSINESSES CLOSED BY EXECUTIVE ORDER

Overview: 

The COVID-19 crisis is devastating the fabric of our local business community. Kent County is built on the backbone of entrepreneurship and small business, and the Kent County Small Business Recovery Fund is aimed at delivering short-term financial support to small businesses with the goal of supporting a strong economic recovery.

Certain businesses have remained closed since March by the Governor’s Executive Orders. The need to support these businesses is immediate and we propose using some existing funds to support them now.

Who is the fund intended for? 

This fund is businesses closed by the Governor’s Executive Orders as of August 1, 2020.

If you have already received funding through the Kent County Small Business Recovery Program, please contact smallbusinessrecovery@grandrapids.org before reapplying for additional funding. Applicants will need to update their application with additional information.

What does the fund provide?  

Businesses that qualify for this fund will receive:

  • A short-term economic relief grant ranging from $10,000, $20,000, $30,000 or $40,000 depending on size of business, and operating costs.
    • Business size will be categorized as:
      • 0-10 employees
      • 11-20 employees
      • 20-30 employees
      • 30+ employees
  • Technical assistance
      • Cost-cutting measures
      • Reviewing creditor/obligation recommendations (deferments and loan re-aging)
  • Connections to other resources
  • Six-month cash flow projection and analysis with a business consultant.

Eligibility 

Must be a private, for-profit, or non-profit business located and registered in Kent County.

Businesses who have already received a grant are eligible for an enhanced grant from this program if they meet the other requirements. Grants will be awarded in the aggregate and will include consideration of the amount previously awarded. Applicants do not need to reapply and will be contacted by staff.

Must be a closed business as of August 1, 2020, per the Governor’s Executive Order.

Under the Amended Safe Start Order, except as noted below, the following places are to remain closed to entry, use, and occupancy by members of the public:

  • Indoor theaters, cinemas, and performance venues.
  • Indoor gymnasiums, fitness centers, recreation centers, sports facilities, exercise facilities, exercise studios, and the like.
  • Indoor services or facilities or outdoor services or facilities involving close contact of persons for amusement or other recreational or entertainment purposes such as amusement parks, arcades, bingo halls, bowling alleys, banquet centers, indoor climbing facilities, indoor dance areas, skating rinks, trampoline parks, and other similar recreational or entertainment facilities.

Businesses must demonstrate current revenues do not exceed 25% of the revenue from the same period in 2019. For newer businesses, evidence of significant loss must be demonstrated. However, a grant can still be awarded by the Committee if an entity that exceeds the 25% income threshold provides information warranting the grant.

  • Businesses must have complied with the restrictions in the Governor’s Executive Orders and must not have received a citation from the Kent County Health Department.
  • A business can also qualify if the majority of the business’ revenue was generated by serving businesses that are currently closed by the Governor’s Executive Orders (i.e. caterers, audiovisual, rental equipment, etc.) and meet the 25% revenue requirement.

Questions? Please contact: smallbusinessrecovery@grandrapids.org

CLOSED BUSINESSES APPLY HERE