Grant Review & Preparation www.kitsapcaressmallbiz.com - - PowerPoint PPT Presentation

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Grant Review & Preparation

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Overview PORT ORCHARD CARES RENT RELIEF GRANTS

 The City of Port Orchard has committed up to $100,000 for small business assistance using Federal CARES funding.  The intent of this grant is to reimburse business related commercial rent or lease.  Successful applicants may receive up to $5,000 based upon eligible COVID-19 impacts.  Application period is noon to noon, Monday, Aug 3rd through Friday, Aug 10th  Funds must be fully distributed by October 31, 2020.

www.kitsapcaressmallbiz.com

www.kitsapcaressmallbiz.com

Eligibility

 Be active & licensed in Washington, with a physical business address in Port Orchard  Active City of Port Orchard business license  One per owner/business entity or franchise holder (not per location)  Up to 15 employees FTE (not including owner) as of January 15, 2020 or date of application  FTE defined as 32-40 hours or FT salaried  Have been in business as of March 1, 2019

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www.kitsapcaressmallbiz.com

Eligibility

 Demonstrate a min $5000 impact loss of income due to COVID-19 and/or the Governor’s related orders  Gross revenues not to exceed $1.5 million per year  Have NOT received WWSBEG  No double dipping! ▪ applicants can NOT seek rent reimbursement under this program AND the PPP program or EIDL for the same time period

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www.kitsapcaressmallbiz.com

Download a program

• verview &

sample questionnaire

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Have this information ready

□ WA STATE UBI

□ COPY OF PORT ORCHARD BUSINESS LICENSE (Scan & upload pdf)

□ Completed IRS W9 FORM (Save & upload this document as a pdf)

https://www.irs.gov/pub/irs-pdf/fw9.pdf

□ WA DEPT OF REVENUE 4-DIGIT LOCATION CODE

https://webgis.dor.wa.gov/taxratelookup/SalesTax.aspx

(NONPROFITS will be reviewed based upon physical address of its main office)

□ GROSS REVENUE

Eligible businesses will have a gross revenue NOT exceeding $1.5 million per year

□ DETERMINING ELIGIBLE COVID-19 IMPACTS:

comparison of gross revenue will be used to determine your COVID related impacts:

2019 Q2 Q2 GROSS RE REVEN VENUE $__________________ 20 2020 20 Q2 Q2 GROSS RE REVEN VENUE $_ $___ _____ _____ ______ _____ ____

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❑ BU BUSINESS STRUCT CTURE □ Sole Proprietorship □ General Partnership □ Limited Liability Company (LLC) □ Cooperative □ Close corporation □ Corporation

▪ C Corp ▪ S Corp ▪ B Corp

□ Limited Partnership (LP) □ Limited Liability Partnership (LLP) □ General Partnership

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□ DATE BU BUSIN INESS OP OPENED Eligible businesses will have been in business before March 1, 2019 □ NUMBER OR OR EM EMPLOYEES (F (FTE) Eligible businesses will have fewer than 15 employees (FTE) not including owner as of January 15, 2020 or date of application

Calc Calcula lations: Full Time Equivalent = FTE (Final numbers to be rounded up) Fu Full-Ti Time Em Employees are employees (not volunteers) working 30-40 hours per week = 1 FTE Par art-Ti Time Em Emplo loyees are employees (not volunteers) working less than 30 hours per week.  For multiple part time employees add their hours together and divide by 40. Example: 3 Employees working the following 11+29+20 hours = 60 Hours/40 hours = 1.5 FTE



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□ RENT OR LE LEASE DO DOCUMENTATION

You must provide your lease/rent agreement and documents supporting monthly rent payment. Applicable rent dates are March 1, 2020 to date of application. □ commercial lease/rent agreement □ monthly invoices equal to your COVID Impact up to $5000 (A memo from landlord can be accepted in lieu of invoice.

NAME EACH DO DOCUMENT: ie ie; ; Bu Busin iness ABC BC Lea Lease; Bu Busin iness ABC Ren ent t Apr 2020, etc You will ill nee eed to uplo load th thes ese docu cuments as pdf f files files. Appli licati tions with ithout uplo loaded documentation will ill be consid idered in incomple lete and in inelig eligib ible.

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BE READY TO APPLY - SUMMARY

1

Do your homework!

Make sure you have the following information ready Tip! Enter all in a Word document for copy/paste into application ✓ UBI ✓ Port Orchard Business License ✓ Look up your Sales Tax Location Code ✓ Business structure ✓ Date business opened ✓ Gross revenues for Q2 2019 and Q2 2020 ✓ Number of employees ✓ Number of potential jobs lost

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BE READY TO APPLY - SUMMARY

2

Prepare your documents to upload

Tip! Save pdf files to your desktop or other easy to find location ✓ Completed IRS W9 form ✓ City of Port Orchard Business License ✓ Lease ✓ Lease invoices or memo from your landlord noting months paid and amount

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BE READY TO APPLY - SUMMARY

3

Review sample application

Tip! Prepare any narrative in a Word doc for easy copy/paste ✓ Company description. Briefly describe the company and products/services ✓ Comments about revenue impact

4

Application Portal

Portal will open at noon on August 3rd Tip! You can find portal link at www.kitsapcaressmallbiz.com

www.kitsapcaressmallbiz.com

Summary

✓ Download & Review Program Overview & Application Copy ✓ Application portal will be open from noon to noon, August 3-10th Approved applications will enter into a contract with the City of Port Orchard. These funds must be fully distributed by October 31, 2020.

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Other

• pportunities

Also be looking for information for new on Washington State CARES Grants!

✓ Incorporated Cities can also apply during Phase 3 of Kitsap County’s CARES grant Crit Criteria is s dif different! ✓ Details will be posted to www.kitsapcaressmallbiz.com

www.kitsapcaressmallbiz.com

Kathy Cocus

cocus@kitsapeda.org

Theresa Mangrum

mangrum@kitsapeda.org

EMAIL US!

Be sure to include Kitsap CARES in the subject line