The City of New Albany has created the New Albany CARES Small Business Grant Program with $150,000 from Federal CARES Act funds received by the City to be distributed as grants to New Albany small businesses affected by the COVID-19 pandemic.
Grant Eligibility Criteria
- Business must be located within the City of New Albany. If the small business is a franchise or has multiple locations, grant funds received must be used for the business located in the City of New Albany.
- Residential-based businesses are not eligible for this program.
- Business must have been impacted by federal and state-mandated closures that began on March 15, 2020 due to COVID-19 pandemic.
- Business must have been in operation on January 1, 2020. Business must not be permanently closed or currently in bankruptcy.
- Business must have at least two, but no more than 50 employees as of March 1, 2020.
- Business must be for profit; non-profit organizations are not eligible to apply.
- Business must be current on all local, state, and federal obligations such as taxes and assessments.
- Business must not have been approved or likely to be approved for a business interruption insurance or other claim as a result of COVID-19 public health emergency.
- Grant applicants are eligible for CARES Act Coronavirus Relief Funding if they have previously been approved and used funding from other CARES Act Funding or COVID-19 Relief funding, but the applicant cannot request and use funds for the same expenses as other relief funding.
- Grant applicants awarded funding from the City of New Albany CARES Small Business Program are required to comply with the S. Department of Treasury Guidelines, the State of Ohio Office of Budget and Management Guidelines and the City of New Albany CARES Small Business Program Guidelines.
- Applicants should review the IRS FAQ about grant funds. Grant awards will be considered gross income taxable to a business receiving the grant under the Internal Revenue Code. The receipt of a government grant by a business generally is not excluded from the business’s gross income under the Code and therefore is taxable.
Expenses experienced directly attributable to the COVID-19 crisis may include:
- Mortgage or lease payments for the business’s principal place of business in the City of New Albany. Mortgage or lease payments for businesses located in a residence are not eligible. Provide proof of mortgage or lease and monthly amount due.
- Operational Expenses: Examples include utilities (business, not residential), supplies, marketing, and maintenance and repairs.
- Property, casualty and liability insurance payments
- Vehicle and equipment lease or rental payments for vehicles and equipment leased on or prior to March 1, 2020.
- Such other costs related to interruption of the business caused by required closures, including the closure of the business’s suppliers and/or customers.
- Unforeseen Expenses: Examples include the cost of conversion of products or services to meet the ODH health and safety requirements, development of new solutions to problems presented during the COVID-19 crisis, and the purchase of restart safety supplies such as masks, thermometers, hand sanitizer, gloves, safety barriers, signage, protective barriers, cleaning supplies, and items to enforce physical distancing.
- Costs incurred during federal and state mandated business closure such as Tele-work equipment/costs: Computers, video equipment, microphones, VPN, home internet costs, fax machines, scanners, video conferencing subscription costs
- Additional costs occurred to allow for e-commerce and promote social distancing: Upgrades to website, pandemic related advertisements due to reopening, online ordering apps, social distancing signage
- Costs that were, or will be, incurred beginning March 1, 2020 and ending December 30, 2020.
Expenditures Not Eligible
- Employee salaries and related payroll expenses
- Expenses that will be reimbursed by existing federal and state government funding sources or programs
- Operating expenses that were budgeted for that are not essential to addressing COVID-19 and would have otherwise been expended (e.g., planned computer upgrades, office furnishings, etc.)
- Individuals, service clubs, businesses, or organizations with no employees
- Medical marijuana organizations
Complete and submit the grant application online starting Monday, November 9, 2020. Estimated completion time is 30-45 minutes. Be prepared to upload your W-9 and any other supporting documents such as leases and receipts. The application deadline is November 30, 2020.
Submitted information considered to be confidential or protected as a trade secret must clearly be marked as such. Grant award recipients will be notified the week of December 7, 2020. Contact Cherie Nelson, New Albany Chamber, 614-855-4400 or email@example.com with any questions.