Many Pompano Beach small businesses suffered during the COVID-19 crisis. And the City is working to help the recover and thrive.
In response to the economic hardships experienced by small businesses resulting from the COVID-19 pandemic, the City of Pompano Beach is launching the COVID-19 Small Business Relief Grant Program in an effort to retain jobs and stabilize local businesses.
This program, which begins on July 22nd, is designed to assist eligible small businesses with a one-time grant. Businesses with 25 employees or fewer are eligible to receive a maximum award of up to $25,000. Businesses with 26-50 employees are eligible to receive a maximum award of up to $50,000 in grant funds through the American Rescue Plan Act (ARPA) Program.
The program is intended to assist small businesses mitigate COVID-19 related financial hardships by supporting payroll and benefits costs, mortgage, rent, utility costs, and other operating costs. This program also intends to assist small businesses in retaining or creating jobs for low-to-moderate income persons. Assistance will be provided directly to the owner/s of the small business.
Assistance will be provided on a first-ready, first- serve basis and a limited number of applications will be accepted based on funding availability. Initial applications will be accepted on a rolling basis until all funds have been fully expended. Only complete applications with all required documentation will be considered for assistance.
Applicants must meet all of the following eligibility criteria:
• For-profit business located within the City of Pompano Beach.
• 50 employees or less including the owner/s.
• Must have a current/active BTR (Business Tax Receipt) with the City at the time of application.
• Business must have been negatively impacted by COVID-19 (must be able to document loss of income as a direct result of COVID-19). • Business has been in operation for 24 months or more (from March 1,2019).
• Business with a net annual business income of less than $500,000 based on their last federal tax return.
• Applicant is 51% + majority owner of business.
• Owner/applicant is a qualified Low/Mod Income household (for businesses with no more than 50 employees) OR business commits to retaining full time equivalent jobs held by a Low/ Mod Income household. (See Appendix A for HUD Income LimitsChart)
• Owner is 18 years or older.
• Owner has a valid SS #, EIN & DUNS, Business Bank Account at the time of application.
• Owner/Applicant is not currently inbankruptcy.
• Owner/Applicant is current with property taxes and municipal fees, or has a payment plan in place with the municipality at the time of application submittal.
• Business will have active liability insurance at the time of application.
• Business does not have a conflict of interest with the City of Pompano Beach.
To apply and submit the required documentation click the link below and select the “Small Business Relief Grant Program” option: https://portal.neighborlysoftware.com/copbfl/Participant The link will go live on July 22nd at 8:00 a.m. The link to apply will also be on the Home Page of the City’s website at www.pompanobeachfl.gov.
