The purpose of the Racine County Community Development Block Grant – Coronavirus (CDBG – CV) is to provide economic relief for small businesses with five or fewer employees, that have experienced a negative impact on their business as a direct result of the pandemic.
Because the source of the grant is from the U.S. Department of Housing and Urban Development (HUD) through its Community Development Block Grant program, a Low-to-Moderate-Income requirement will apply. This grant will not be available to businesses located in the City of Racine because the City received its own allocation directly from HUD.
Applications can be downloaded here and must be submitted to email@example.com. Applications will be processed on a first come, first served basis.
- Opened on or before March 25, 2020
- Five or fewer employees
- Located in Racine County, outside of the City of Racine
- Owned by a low to moderate-income household OR majority of employees are making LMI wages
- Negatively impacted by the pandemic
- The applications will be processed by the order in which they are received
- The applications will be viewed by an RCEDC Staff member for review of eligibility and
processing. This includes a public records check and income verification
- Eligible applicants will be submitted to RCEDC’s Loan Committee for approval
- If the grant is approved, the applicant documents the use of funds, non-duplication of funds, and LMI
- RCEDC submits draw request for CDBG funds anticipated monthly
- Grant recipient signs grant agreement recertifying as to eligibility
- Funds are reimbursed to businesses
- Business was shut down during the pandemic. loss of sales made it difficult to cover rent, utilities and debt payments. Grant funds fill the gap to cover the losses during that period. Documentation of the business being shut down needed to qualify.
- Sales for your business dropped due to the inability to maintain sufficient staff due either the direct or indirect challenges of securing employees during the pandemic. For example, employees needed to be quarantined or did not feel safe working during the pandemic or were not willing to come back to work after the shutdown/worst of the pandemic was over. Documentation of the loss in revenue such as financial statements would be needed to qualify for the grant.
- Business is seeing a loss in customers since the economic shutdown. Business uses grant money to hire a marketing consultant to develop a marketing initiative that brings in new customers and increases sales volume.
- Business needed to pivot to online sales in order to keep their business afloat during the shutdown orders. The grant money is used to reimburse the cost related to changing their business model.
For more information about the program, please contact BLP’s Loan Officer Wesley Walsh at (262) 898-7436 or firstname.lastname@example.org or follow the link below.