LUNENBURG COUNTY CARES ABOUT LOCAL BUSINESS!
CARES ACT RELIEF FUND – SMALL BUSINESS GRANTS
The purpose of the Lunenburg CARES Small Business Grant Program is to provide immediate relief to small businesses (less than 50 employees) impacted by the COVID-19 pandemic. Lunenburg County hopes to help small businesses regain some of the revenue losses from the COVID-19 emergency. The grant will not have to be repaid, it is not a loan.
It is funded through an allocation of the Coronavirus Relief Funds provided through the federal CARES (Coronavirus Aid, Relief, and Economic Security) Act of 2020.
Grant funds will be allocated based on number of employees:
- Employees, 1 – 10: $ 5,000
- Employees, 11 – 25: $ 7,500
- Employees, 26 – 49: $10,000
The application process will be open from July 31, 2020 through September 1, 2020.
STEP ONE: Verify your eligibility, please see requirements below.
STEP TWO: Complete the Lunenburg CARES – Small Business Grant application form and submit Financial Impact Statement by September 1, 2020 to Lunenburg County Administration via email.
STEP THREE: Review of applications by staff and the Board of Supervisors CARES Act Fund Committee for approval by the Board of Supervisors on September 10, 2020.
STEP FOUR: Announcements on September 11, 2020 with fund distribution beginning September 15, 2020.
To be eligible, applicants must be established for two years and have one or more location(s) in Lunenburg County, including the principal place of business. Lunenburg County includes businesses and organizations located in the Towns of Victoria and Kenbridge. Grant recipients must either be have at least one full-time employee and less than 50 total employees across all locations and be up-to-date on all local government tax payments.
SMALL BUSINESS ELIGIBILITY
- Must be in operation for at least two years and have one or more location(s), including the principal place of business, in Lunenburg County
- Have at least one and less than 50 total employees across all locations.
- Have no more than $1million in business income per calendar year.
- Have all local government taxes paid in full through July 5, 2020.
SMALL BUSINESSES NOT ELIGIBLE TO APPLY:
- Businesses that are franchises and chains must be locally-owned and operated to be eligible.
- Independent contractors operating multilevel or network marketing businesses (such as Avon, Mary Kay, LuLaRoe, Pampered Chef, etc.) are not eligible to apply.
- Nonprofit organizations are not eligible to apply.
- Businesses engaged in speculation or investment in rental real estate are not eligible to apply.
- Businesses determined to be Ineligible Businesses under SBA guidelines are not eligible to apply.
Funds are meant to reimburse businesses for the costs of business interruption caused by required closures due to COVID-19. The grant can be used for:
- Employee compensation (including wages and benefits)
- Equipment Inventory
- Other business-critical operating expenses
INDEPENDENT CONTRACTOR/SOLE PROPRIETOR ELIGIBILITY
- Live in Lunenburg County and operate a business as a sole proprietor.
- Pay self-employment tax
- Not currently receiving unemployment benefits
REQUIRED DOCUMENTATION FOR ALL APPLICANTS
Applicants will be required to demonstrate that they are eligible, that they were operational pre-COVID-19, and that they are suffering negative impacts from COVID-19 closures. Applicants must complete the Lunenburg CARES – Small Business Grant application form and will be asked to provide:
- IRS W-9 Form
- Financial Impact Statement
- A 2020 Profit and Loss Statement (list of assets and liabilities)
- Latest 2 years filed tax returns include:
- Sole Proprietorship Form 1040 or 1040-SR Schedule C, Profit or Loss from business
- Farming Form 1040 or 1040-SR Schedule F, Profit or Loss from Farming.
- Partnership Form 1065, U.S. Return of Partnership Income (Page 1 Only).
- Corporation Form 1120, U.S. Corporation Income Tax Return (Page 1 Only).
- S Corporation Form 1120-S, U.S. Income Tax Return for an S Corporation (Page 1 Only).
If you have further questions, please call Lunenburg County Administration at 434-696-2142.