The Racing County Community Corporation is seeking applications for its Development Block Grant – Coronavirus (DDBG-CV) to provide economic relief for small businesses with five or fewer employees, that have experienced a negative impact on their business as a direct result of the pandemic.
Donor Name: Racine County Economic Development Corporation (RCEDC)
State: Wisconsin
County: Racine County (WI)
Type of Grant: Grant
Deadline (mm/dd/yyyy): Ongoing
Size of the Grant: $12,000
Details:
Because the source of the grant is from the U.S. Department of Housing and Urban Development (HUD) through its Community Development Block Grant program, a Low-to-Moderate-Income requirement will apply. This grant will not be available to businesses located in the City of Racine because the City received its own allocation directly from HUD.
Funding Information
The CDBG-CV grant provides up to $12,000 of cash to aid in operational costs, training needs, professional fees, costs related to changing the business model to adapt to current economic conditions, and costs to improve safety during the pandemic.
Examples of Uses
- Business was shut down during the pandemic. loss of sales made it difficult to cover rent, utilities and debt payments. Grant funds fill the gap to cover the losses during that period. Documentation of the business being shut down needed to qualify.
- Sales for your business dropped due to the inability to maintain sufficient staff due either the direct or indirect challenges of securing employees during the pandemic. For example, employees needed to be quarantined or did not feel safe working during the pandemic or were not willing to come back to work after the shutdown/worst of the pandemic was over. Documentation of the loss in revenue such as financial statements would be needed to qualify for the grant.
- Business is seeing a loss in customers since the economic shutdown. Business uses grant money to hire a marketing consultant to develop a marketing initiative that brings in new customers and increases sales volume.
- Business needed to pivot to online sales in order to keep their business afloat during the shutdown orders. The grant money is used to reimburse the cost related to changing their business model.
Eligibility Criteria
- For-profit
- Opened on or before March 25, 2020
- Five or fewer employees
- Located in Racine County, outside of the City of Racine
- Owned by a low to moderate-income household OR majority of employees are making LMI wages
- Negatively impacted by the pandemic
For more information, visit Community Corporation Development Block Grant.
