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Second Round of Business Recovery Grants Announced

Press Release

Press Release - Second Round of Small Business Recovery Grants Announced

Posted: 09/21/2020

cares grant image infoToday, the City of Elk Grove announced a second round of funding under the City’s Small Business Recovery Grant Program. The online application period for round two will go live next Monday, September 28, 2020 at 9:00 a.m. 

Round one’s application window closed on August 30. Approximately 115 businesses were deemed eligible for funding in that round, contingent upon final verification of information. Round one grants are being processed now, and the City expects all payments to be made within the next few weeks. Round one payments are expected to total $450,000, leaving approximately $300,000 for the second round.

All Elk Grove-based small businesses with less than 20 employees and less than $3 million in annual revenue are highly encouraged to apply. Program and application details are listed below.

The COVID-19 Small Business Recovery Grant Program

Small businesses with 20 employees (FTEs) or less and annual revenue of less than $3 million who have been negatively impacted by COVID-19, but remain open or plan to reopen, may be eligible for grants of up to $25,000. Funds can be used for general business operations such as payroll expenses, supplier payments, rent, lease of mortgage payments for business real or personal property, or personal protective equipment (PPE) and/or sanitation supplies and equipment.

Twenty-five percent of funds are targeted for businesses with one to two FTEs, 25% to businesses with three to 10 FTEs, and 50% to businesses with 11 to 20 FTEs. Business owners generally count as employees and part-time employees can be converted to FTEs.

A one-week online-only application period for round two will open on September 28. Details on the program guidelines, eligibility, and the online application are available on the city’s website at www.elkgrovecity.org/covid19biz. Businesses will have until October 5 to submit their applications. It is possible that due to the limited amount of funds available, not all eligible businesses will receive a grant. Questions regarding the program can be emailed to econdev@elkgrovecity.org

Applicants needing access to a computer or the internet may complete the application at City Hall in the Development Services lobby during normal business hours.

The Capital Region Small Business Development Center (SBDC) is available to provide assistance to businesses who need help calculating their employee numbers, revenues, and filling out the application. SBDC contact information is available on the website.

As a condition of funding, recipients must spend the funding awarded to them by December 30, 2020.
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