Resiliency Grant FAQ's
Small Business Resiliency Grant FAQ
What is the Small Business Resiliency Grant?
The Small Business Resiliency Grant is a one time payment of $10,000 to eligible businesses that are located and licensed in Tacoma. Businesses are not required to pay the grant back.
How can I use the grant?
The grant can be used for any eligible business operating expense that has not been previously paid for by other federal, state, county, or local programs (for example: if you received funding to pay for rent for the months of September-December, you may not use the Small Business Resiliency Grant to pay for September-December rent). Operating expenses may include: rent, utilities, payroll, utilities, etc.
What are the eligibility requirements?
The following criteria must be met for a business to be considered eligible:
- Geographic location: Business must operate a licensed physical brick-and-mortar, *home-based business, or food truck located in Tacoma. Businesses not located within Tacoma city limits (ex: University Place, Fircrest, Parkland, etc.) are not eligible.
- *Home-based businesses must be located in an area of low-economic opportunity in order to comply with federal funding regulations. To verify your address input your address into the City of Tacoma’s Equity Index: https://www.cityoftacoma.org/cms/One.aspx?portalId=169&pageId=175030
- Low/moderate income requirement: Business owners must meet the income requirements established by federal funding eligibility guidelines. The business owner must have low-moderate income (less than 80% of the Area Median Income) annual household income.
|80% Median Income||$48,450||$55,400||$62,300||$69,200||$74,750||$80,300||$85,850|
- Micro-enterprise status: Businesses must employ five or fewer (including owner) full-time equivalent employees.
- COVID-19-related impact: Businesses must be able to demonstrate that they have experienced a loss of income due to COVID-19.
Is the application available in other languages?
Yes, the application is available in: Spanish, Vietnamese, Korean, Russian, and Khmer.
If I am unable to submit the application online are there other ways I can turn it in?
Yes, please reach out via email at: firstname.lastname@example.org. Staff will organize a day and time for applicants to turn in their application in person.
Are non-profits eligible?
No, non-profit organizations are not eligible for the Resiliency Grant.
How will businesses be selected?
Businesses will be selected at random via a lottery system.
Is this grant considered income?
Yes, this grant will be considered taxable income, businesses will be required to submit a W-9 form to receive the funds.
Will businesses be required to submit financial documents?
Applicants will be allowed to self-certify their income during the application process. However, if a business is selected to receive the Small Business Resiliency Grant they will be required to submit 2019 personal and business taxes to verify low-to-moderate income status.
Will my use of funds be audited?
The City of Tacoma may request an audit of your use of funds at any time. Please keep all receipts and records for the funds.