Below is a write-up from The Town of Sykesville on their newly created MicroGrant.
The Town of Sykesville has created a micro-grant program to support existing businesses impacted from the COVID-19 outbreak. No match component is required of businesses. This micro-grant is a one-time award of $1,250 with no repayment due. The award may be used for rent payments, mortgage payments, utilities, and regular overhead costs. This grant may not be used for any accrued debt or expenses incurred before March 15, 2020.
At this time, home-based businesses, churches, non-profit organizations, banks and financial institutions, investment real-estate entities, and government agencies may not apply.
Criteria for Businesses:
- Must be a registered business entity in good standing with the State of Maryland
- Have physical establishment within the Town of Sykesville.
- Have no more than 25 full-time employees (as of March 1, 2020)
- Engaged in activities currently regulated or impacted by the COVID-19 Maryland’s State of Emergency
- Demonstrate a loss of business revenue of 50% or more related to COVID-19
- No pre-existing tax liens or legal judgments
Application: Applications for the micro-grant can be submitted starting 10:00 AM on Friday, May 15, 2020. Applications submitted prior to 10:00 AM on Friday, May 15 will not be accepted. Businesses may only be awarded this micro-grant once. Applications will be processes on a first-come, first-served basis with deference given to businesses who have not received any other stimulus funding. The Town of Sykesville staff will review the applications based on the above criteria. Applications are available here. Completed applications and supporting documents must be submitted to the Town at email@example.com.
Additional Information: This funding can be combined with other funding sources, tax credit programs, and state grant or loan programs. Businesses that are owned or majority owned by Town of Sykesville residents will be given funding priority along with businesses who have not received any other stimulus funding. Awardees will be required to complete a disbursement form and must be able to produce receipts. Awardees will agree to report basic employment and business data for up to two years after the grant is issued so the program can track progress and success.
Dispersion of Funds: Applicants will be notified of their approval/denial within 7 business days of their application. After award notification, the applicant will be required to provide additional information to the Town for the purposes of dispersion of funds. Once funds are received, applicant will be required to report how the funds were used.”