The Town of Fairhaven is looking to see how many small businesses may be eligible for the CDBG-CV Microenterprise Assistance grant of up to $10,000 per business to qualifying Microenterprises adversely impacted by COVID-19.
Microenterprise is defined as a commercial enterprise that has 5 or fewer employees, 1 or more of whom owns the enterprise. In order for a Microenterprise to be eligible it must be a for-profit entity; have a physical establishment in the town; provide goods or services to multiple customers; currently in operation and established prior to 1/1/2019; and be in good standing with the state and town. They must also be current on all taxes through 3/1/2020 and have active and valid state licenses/registrations, if applicable; and not a party to litigation involving the state or municipality and be able to document a loss of income equal to or greater than requested assistance due to COVID-19. Some small businesses are not eligible. Excluded business types are: real estate rentals/sales; businesses owned by persons under age 18; franchises or chains; liquor stores; weapons/ firearms dealers; lobbyists; or cannabis-related businesses.
CDBG-CV grantees must prevent the duplication of benefits, which means grant funds may not be used to pay costs if another source of financial assistance is available to pay that cost. This must be certified through the application from the business and through quarterly progress reports to DHCD. Funds may be used for working capital to cover business costs, such as rent, staffing, and utilities but may not be used for major equipment purchases, real property, construction activities, business expansion, or lobbying.
To learn more, contact Paul Foley, Director of Planning & Economic Development, email@example.com (508) 979-4082 EXT. 122
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