SMALL BUSINESS ASSISTANCE PROGRAM
The Township of Hamilton has appropriated $90,000 of its federal Community Development Block Grant CARES Funds (CDBG-CV) for the Small Business Assistance Program.
The Hamilton Township Small Business Assistance Program has been established to provide working capital funds to the community’s businesses economically impacted by the COVID-19 virus. The program makes funds available for 60 days of verifiable working capital up to a grant ceiling of $5,000.
CDBG Small Business Assistance funds may be used to assist private for-profit small businesses considered non-essential by the Governor’s Executive Order without the ability for employees to work remotely. Businesses must have at least one full-time equivalent (FTE) employee other than the owner(s) but must not exceed 25 employees (total number of people employed) including the business owner(s).
The business may use funds for working capital expenses (employee salaries, general operating expenses, inventory and advertising/marketing expenses).
Application Deadline: Friday August 14, 2020
Applicants can send a Letter of Intent or Completed Application by Friday, August 14, 2020.
Applicants that submit a Letter of Intent may have an extension to complete the application by Friday, August 21, 2020.
To view the Guidelines and Application: Click Here
To be eligible, businesses must have been operating continuously with the same ownership since January 1, 2017 (at a minimum) and provide documentation on the financial health of the business in 2017, 2018, 2019 and currently. Benefiting businesses should have solid commitments to remain open or reopen, and retain or re-employ permanent jobs.
The following businesses are specifically ineligible for assistance:
• Businesses that have both essential and non-essential activities.
• Not-for-profit businesses.
• Franchises or chain businesses.
• Private club or business that limits membership for reasons other than capacity.
• Liquor store, an adult bookstore, non-therapeutic massage parlor, strip club or nightclub
• Storage facility, trailer-storage yard or junk yard