Understanding the impacts of COVID-19 on our economy, particularly on small businesses, the Seminole County Office of Economic Development is administering an emergency grant program for Seminole County-based small businesses that have been negatively impacted by the current COVID-19 crisis.
The one-time grant will provide critical support to help offset the significant loss of revenue during this global pandemic. The intent of this grant is to support those businesses with low-to-moderate income employees, as stipulated by the CARES Act Community Development Block Grant Funds and the Federal Housing Administration FY2020 Income Limits. Only those businesses with low-to-moderate salaries, at or below $19.59/hour, will be eligible. Grant recipients may be subject to a federal audit and, if grant requirements are not satisfied, grantor will be required to pay funding back.
Eligible businesses will receive up to $5,000 in funding.
To receive funding through this program, each business will be required to clearly articulate a plan for applying County grant funds for an eligible use within the typical operating expenses of the business, including: commercial rent or mortgage payments, utilities, payroll, retention of employees, employee support programs, or investments in materials or equipment necessary for reopening or operating during social distancing mandates.
Funds may not be utilized to pay bonuses, commissions, dividends, or salary increases.
This is a grant, not a loan, therefore repayment is not required unless funds are not used for eligible expenses. These grants may be considered taxable income, so please contact your financial advisor for guidance.
Download full program description and criteria here.