Culpeper Cares Small Business Recovery Grant
Third and FINAL Round
There is $1M available for small businesses and 501c3 non-profit organizations.
Applications opening Wednesday, October 14, 2020. Application Deadline is Friday, October 30, 2020 at 11:59 pm EST.
The amount of Culpeper Cares awards will be made based upon the number of full-time equivalent employees according to the following structure:
- Employees, 0 to 10: up to $10,000
- Employees, 11 to 25: up to $15,000
- Employees, 26 to 50: up to $20,000
Grant funds can be used for:
- Other business critical operating expenses, example: adaptive costs such as the purchase of e-commerce, equipment/website creation and/or upgrade of an online sales site
Funding must be used for an eligible expense to mitigate business interruptions for the grant awardee business/organization. Awardees found to use grant funds for ineligible expenses will be required to return the award.
Culpeper Cares Grant Interest Form
Please click here to complete the Culpeper Cares grant interest form. This is NOT the grant application. We will use the information captured in the interest form to notify you when the grant application opens on October 14, 2020. This is a required step in the process. The application will be an online form, backed by Lenderfit, which you have to be invited to. The interest form generates your invitation.
Round Three Eligibility Requirements:
- Applicant must be an operating business or organization in Culpeper, Virginia
- Applicant must have a physical location in Culpeper, Virginia
- Applicant must have 0-50 full-time equivalent employees
- Applicant must be able to demonstrate at least a 25% loss in revenue that can be attributed to COVID-19
- Applicants must be for-profit businesses or 501(c)(3) non-profit organizations; Franchise establishments must be privately owned and operated (non-corporate)
- Applicants must be current on taxes as of March 1, 2020
- Applicants must have opened by January 1, 2020
- Applicants must complete an online application form, certify that all answers are true and accurate, provide a completed W-9 form and financial documentation that certifies the business’s revenue and projected impact related to COVID-19, and agree to the program’s terms and conditions
Previously awarded businesses and 501c3 non-profit organizations are ELIGIBLE to apply again:
- If you received an award in round one OR round two, you are eligible to apply again in round three
- If you received an award in round one and in round two, you are not eligible for a third round of award - in other words NO triple dips!
- You will be required to complete a budget form demonstrating how you plan to use the grant funds
- You will need to acknowledge and accept non duplication of funds use
- We will need to verify 2019 annual revenue before we can determine your additional award amount eligibility
The following are Ineligible:
- Banks and financial institutions
- Franchise businesses, except those that are privately owned (non-corporate)
Online Application Process – Getting Prepared
Round Three Applications will open on October 14, 2020, closing on October 30, 2020 11:59 pm EST. While you are waiting, take the time to be sure you can gather the necessary paperwork to apply. This will include, but not be limited to:
- Application to be submitted via online Lenderfit portal
- Federal Taxpayer Identification Number (EIN), Individual Taxpayer Identification Number (ITIN), or your Social Security Number (SSN) – whichever is applicable to your business
- Federal IRS form 941 for 1st or 2nd Quarter of 2020
- Town of Culpeper Account Numbers: Business License Account Number and Business Tangible Property Account Number
- Accurate list of all secured relief aid, example: SBA PPP, SBA EIDL, VA 30 Day Fund, Virginia Career Works Grant, etc.
- 2018 and 2019 Tax Returns, including Schedule C Form (if applicable)
- Current profit-and-loss statement, balance sheet, or other statement of business financial standing
- Year-end profit-and-loss statement and balance sheet, previous year
- Business account bank statements (2019 and 2020)
The Town of Culpeper Tourism and Economic Development department has contracted Community Investment Collaborative to assist with the implementation of the Culpeper Cares Small Business Recovery Grant program. The Town of Culpeper Tourism and Economic Development retains program oversight and management of the Culpeper Cares grant program. Department of Tourism and Economic Development can be reached at 540-727-0611 or by email: CulpeperCares@culpeperva.gov