The City of Rancho Cordova’s Recovery Grants is a grant program to support local businesses and nonprofit organizations that are experiencing economic hardship from the COVID-19 pandemic.
Donor Name: City of Rancho Cordova
State: California
City: Rancho Cordova
Type of Grant: Grant
Deadline (mm/dd/yyyy): 01/23/2022
Size of the Grant:
- $40,000 to businesses
- $5,000 to $10,000 to nonprofit organizations
Details:
Priority Businesses
- Retail – Businesses classified as general retail, excluding businesses such as grocery stores, mini-marts, and auto-focused retail and service.
- Restaurants – Priority will be given to restaurants without a drive-thru.
- Other Hospitality – Caterers, event venues, hotels
- Health & Fitness – Salons, fitness studios, and sports training centers qualify. Massage establishments are excluded.
- Arts & Entertainment – Arts & Entertainment
- Wineries, Breweries & Distilleries – Includes both tasting rooms and manufacturers
- Daycares – Adult and child daycares
Funding Information
The city will provide grants of up to $40,000 to businesses and $5,000 to $10,000 grants to nonprofit organizations.
Eligibility Criteria
For Businesses
A business must meet all of the following criteria to be eligible to receive a grant:
- The business is an existing for-profit business with no more than 25 full-time equivalent employees (“FTEs”) and no more than $3,000,000 in annual gross sales as of December 31, 2020. An FTE is defined as an employee who works at least 2,080 hours per year over a 12-month period. Part-time employees may be considered an FTE employees for purposes of this Program (for example, two part-time employees who regularly work 1,040 hours per year can be converted to one FTE and identified as one FTE on the Program application).
- A business is defined as a sole proprietorship, a partnership, a corporation, a limited liability company, or other lawful business entity with an active registration to operate within the State of California and engaged in for-profit operations.
- The business is physically located within the boundaries of the City of Rancho Cordova.
- The business must demonstrate a need for funding due to the impacts of COVID-19 that have not been covered by funds received from other COVID related programs (e.g., SBA PPP, SBA EIDL, CA Relief Grant Program, and Insurance). Examples include but are not limited to:
- Proof of a loss of revenue due to COVID-19.
- Receipts for purchases made to support business operations through new requirements due to COVID-19 that have not been covered by funds received from other COVID-related programs.
- Documents indicating debt related to shuttered business operations.
- Proof of high-interest business debt (interest rate of 12% or greater) incurred due to the impact of COVID.
- Quotes/invoices for modifications to business operations due to the impacts of COVID that have not been covered by funds received from other COVID related programs.
- For businesses with multiple locations, only employment and revenue figures for the Rancho Cordova location(s) can be used to qualify for a grant under the program, and all grant funds received must only be used to support Rancho Cordova business operations. Multiple locations within Rancho Cordova operating under a single business entity will be considered one business for purposes of the program.
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The business is in good standing with the City of Rancho Cordova (e.g., possess a valid business license and where applicable, is in compliance with all applicable zoning and permit requirements, is current on all city bills and obligations, and is not subject to any liens or judgments by the city-related to the business).
- The business is in compliance with all city, state, and federal laws and regulations related to the operation of the business.
For Non-profit Organization
Rancho Cordova Recovery Grants are designed to support organizations, programs, and activities that are located within the city and serve Rancho Cordova residents. Organizations founded in 2021 or earlier are eligible to apply. Eligible organizations include nonprofits with a 501(c)(3), 501(c)(4), or 501(c)(6) status under the Internal Revenue Service Code. For-profit entities and individuals are not eligible.
Eligible organizations must:
- Be located within Rancho Cordova and serve Rancho Cordova residents.
- Be in good standing with the California Secretary of State, if required by law to be registered.
- Demonstrate negative financial impacts directly related to the COVID-19 pandemic. This could be due to an increase in services provided, an inability to hold fundraising events, loss of revenue related to government-mandated shutdowns, increased costs for complying with reopening requirements, or costs of new programming designed to assist those impacted by the pandemic and its economic effects.
For more information, visit Rancho Cordova Recovery Grants.