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CDBG-CV Economic Development Grant Opportunities for Small Businesses

Posted by Melanie Bilby at May 15, 2020 04:40 PM |
The Kansas Department of Commerce's Community Development Block Grant Division has introduced a new program with approximately $9,000,000 in funding for small businesses adversely impacted by COVID-19 restrictions.

CDBG-CV Economic Development Grant Opportunities for Small BusinessesCDBG-CV Economic Development Grant Opportunities for Small Businesses

The City is currently working with a consultant to discuss moving forward with an application, which would allow local businesses that qualify to apply to the City for a share of the funding. The consultant will be available to do a brief Zoom meeting Q & A for anyone interested on Tuesday, May 19, 2020 at 10 AM.

If you own a local business and would like to participate in the Q & A conversation please submit the following information to City staff using the link below.

Information to Submit:

Business Name

Business Owner Name

Number of Employees

Email Address

 

Link to Submit Your Business' Information

 

ECONOMIC DEVELOPMENT

CDBG-CV Economic Development grants provide communities with funding to help local businesses retain jobs for low-to-moderate income people.

Eligibility

To be eligible to receive a CDBG-CV Economic Development grant, the recipient business must be a for-profit business and retaining jobs for low to moderate-income people. 51% or more of the full-time equivalent (FTE) jobs retained must be for persons from low to moderate-income households as defined by HUD.

CDBG-CV Economic Development grants can be used to pay for the following expenses:

  • Working capital such as wages, utilities, rent, etc.
  • The purchase of 60 days’ worth of inventory needed to reopen (60 days will begin on the day the business is allowed to reopen).

Award Amounts

  • Businesses with five or fewer employees (including the owner) are eligible to receive up to $25,000 per FTE job in CDBG-CV Economic Development grant funding (with a maximum of $30,000 per company).
  • Businesses with between six and 50 employees are eligible to receive up to $35,000 for each FTE job in CDBG-CV Economic Development grant funding (with a maximum of $50,000 per company).

https://www.kansascommerce.gov/programs-services/community-development/community-development-block-grant-program/cdbg-cv/

 

CDBG-CV Economic Development Grant Opportunities for Small BusinessesIncome Limits