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Yes. Eligibility is determined by the number of employees on March 1, 2020.
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The Second Round Lakeville Small Business Emergency Grant Program is funded by CARES Act dollars and will award grant applications up to $400,000.
The grant application will be available on lakevillemn.gov from September 16-30, 2020. Eligible applications will be awarded grant funds based on a first-come, first-served basis.
If applications exceed funding available, applicants will be selected by a first-come, first-served basis.
The majority of communication will take place via email. Applicants are encouraged to provide an accurate email address and check their junk folders regularly so as not to miss any grant-related communications.
The Lakeville Community & Economic Development Department will notify approved applicants by email within 10 business days of the submittal of a complete application.
Within 10 days of signing the grant agreement (after all required documentation has been received and approved).
Eligible applicants must have a physical business location within Lakeville city boundaries. Those with Lakeville addresses located outside city boundaries are considered ineligible.
Businesses may not receive CARES Act grant funds from more than one entity. Applicants to the Second Round Lakeville Small Business Emergency Grant Program must verify that no other CARES Act COVID-related emergency county or state funds have been received.
Yes, but Lakeville Small Business Emergency Grant Program funds must be used to cover different expenses over and above specific uses of those federal funds.
A completed application form with all questions answered. No additional documentation is required with the application form. If your application is selected and verified, additional documentation will be requested via email.
A checklist will be provided to applicants who have been deemed preliminarily eligible. Documentation submittals include business revenue from 2019 (or the business’ most recent fiscal year if different), e.g. tax return, financial statements, reports or any such records that can verify business revenue, and documentation of payroll and employee count, if any, as of March 1, 2020. A copy of a voided check/bank information will be needed to wire funds.
Yes, as long as you have no more than 50 FTE employees and meet all other eligibility requirements.
Credit score will not affect your eligibility or selection for funding.
Contact Kati Bachmayer, Economic Development Coordinator at email@example.com or 952-985-4425.