The City of Boca Raton will be providing assistance to businesses that are struggling during the COVID-19 pandemic.
On Wednesday night, the City of Boca Raton Council unanimously passed a $500,000 Small Business Recovery Relief Grant program to support businesses within Boca Raton city limits. One-time grants of up to $5,000 will be awarded on a first come, first served basis until the entirety of the fund has been awarded.
In a press release announcing the grant program, Boca Raton Mayor Scott Singer is quoted as saying “Small businesses within the City of Boca Raton are the backbone of our community and we know they have been deeply affected by the COVID-19 shutdown. We hope this investment into our local economy can help during this time of need.”
As provided by the City of Boca Raton, these are the criteria that businesses must meet to be eligible:
- Types of Businesses: Businesses must be for-profit, and must qualify as a restaurant, retail or retail service business with a physical location within the City customarily open for customers/patrons.
- Closure: The physical location of the business must have been closed as a result of the COVID-19 public health emergency (except for delivery, curbside pick-up and related activities).
- Multiple businesses: Owner(s) of more than one business may apply for a grant for each business, provided that each business has a separate Employer Identification Number (EIN) issued by the Internal Revenue Service and meets the criteria of the Grant Program.
- Other Funding: Businesses may not have received funds from the Paycheck Protection Program under the Coronavirus Aid, Relief, and Economic Security (CARES) Act established by the federal government (PPP) or other COVID-19 government relief funding.
- Business History: Businesses must have been in business in the City for at least one year prior to March 1, 2020.
- Business Tax License: Businesses must have a current City business tax license.
- Number of Employees: Each business must have employed at least three employees and no more than 25 employees as of March 1, 2020.
- Sales: Businesses must have had annual average sales prior to March 1, 2020 of less than $1 million.
- Sales Reduction: Businesses must have experienced at least a 50% reduction in revenue as a result of the COVID-19 public health emergency.
The online application will go live on Monday, June 1 at 8 a.m. For more details, visit www.myBoca.us/SmallBusinessGrant.