Application for Small Business/Nonprofit Rebuilding

Posted on July 1, 2020 - 4:30pm

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Small Business/Nonprofit Organization Rebuilding Relief Grants in The Midway and The City of Saint Paul.
The COVID-19 pandemic created an emerging economic crisis unlike any we have faced in recent memory. The tragic death of George Floyd and the unrest that followed further devastated many East Metro small businesses that are now struggling as well as trying to repair, rebuild, re-open, or remain open.

The We Love Saint Paul and We Love Midway funds were set up in partnership between the Saint Paul Area Chamber of Commerce, the Midway Chamber of Commerce, and the Saint Paul Downtown Alliance in order to provide direct support, through emergency relief funds, to small businesses and nonprofits impacted by the
unrest that followed Mr. Floyd’s death. The intention is to rebuild storefronts and reopen businesses quickly.

We will award grants on a rolling basis until the funds are exhausted.

Guidelines

Eligible Businesses and Nonprofit Organizations applying must:

• Be a small business or a nonprofit organization.
• Operate out of a physical establishment located in one of the following areas:
-->The Midway and within the service area of the Union Park or Hamline Midway district councils.
-->In the City of Saint Paul.
• Have operated & conducted business at the same location within the City of St. Paul for at least three mos.
• Must demonstrate physical damage and/or property loss from unrest after May 25, 2020. Damage includes, but is not limited to: broken windows, doors, fire, or other damage to the structure of the commercial property) and/or loss of business property (i.e. theft or destruction of cash, inventory, equipment, or furnishings.
• Commitment to attempt to keep the organization in the City of St. Paul for at least 1 year from May 25, 2020.

Other Considerations:

• Funds can be used to help businesses and nonprofit organizations pay for critical expenses related to reopening or sustaining a damaged business or nonprofit. Eligible expenses can include repairs of building damage, purchase of inventory to replace damaged or stolen goods or equipment, payments of rent, mortgage, utilities or insurance deductibles, cleaning or demolition services, costs related to temporary relocation if a building is no longer usable, staff costs associated with reopening such as payroll, accounts payable, or other immediate business expenses and/or other costs associated with repairing, rebuilding, or reopening. Costs not covered by insurance should be prioritized.

• The grant application will NOT ask about immigration or documentation status, and immigration or documentation status will have no impact on eligibility.

• Businesses and nonprofit organizations do NOT need to be members of the Saint Paul Area Chamber of Commerce, the Midway Chamber of Commerce, the Saint Paul Downtown Alliance, or any other organization to qualify for funding or to receive assistance.

• Certain businesses are ineligible, including:
-->Home-based businesses; those without a physical establishment.
-->Corporate chains, multi-state chains. (Locally owned franchises are allowed to apply).
-->Businesses that primarily derive income from gambling.
-->Businesses that derive any income from adult entertainment.
-->Businesses that primarily sell pawned merchandise or guns.
-->Businesses that derive income from passive investments; business-to-business transactions; real estate transactions; property rentals or property management; billboards; or lobbying.

Timeline

• Applications for the first round can be submitted from June 22nd through July 3.
• Recipients from the first round should be notified by July 3 or after with funds released soon after.
• Applications will be accepted indefinitely and looked at on a bi-weekly basis thereafter.

How to apply

• Apply by filling out this application.

Selection of Grants

• If applications exceed funding available, applicants will be selected via random selection with the three priorities taken into account:
• Severity of emergency need.
• Priority for the first-round will be to recipients from communities of color and/or areas with barriers to access other small business resources.
• Ability to make immediate or near-term impact to get businesses open again.
• Each recipient chosen will receive between $1,000 to $25,000 grant depending on how many applications are received for the first round.
• Subsequent rounds may have different selection criteria and amounts given out.
• If selected, after business is verified, recipients must provide the following: 1) a W-9 tax document, 2) pictures of damage, and 3) a signed grant agreement in which the recipients must agree to provide a brief email report within six months of the grant to detail what they spent the grant on. After those three items are submitted, the check will be cut and mailed.

Please beware: most grants are considered taxable income based on how a business is incorporated. Please consult your tax professional to understand how a grant from this program will impact your tax obligations. For the most up to date information in regards to this issues, please go to IRS Topic 421 at: http://www.irs.gov . Additional information regarding the IRS tax regulations and grants can be found at: http://www.irs.gov/pub/irs-pdf/p525.pdf.

If you have any questions before, during, or after filling out the application, please email Kathleen, SPACC Foundation Director at kathleen[at]saintpaulchamber[dot]com.