The COVID-19 Small Business Grant Program (SBG), administered locally by the City’s Office of Community Development, was funded by a U.S. Department of Housing and Urban Development grant through the Coronavirus Aid, Relief and Economic Security (CARES) Act. Applications will be accepted from December 7th through January 4th.
A total of 25-51 grants of $5,000 - $10,000 are anticipated to be awarded. Eligible businesses are located within the Saratoga Springs city limits, employ 50 people or less, generated less than $3.5 million in 2019 annual gross receipts, and are able to demonstrate extreme financial hardship due to the COVID-19 pandemic. Grant recipients must commit to preserving at least one full-time-equivalent position held by a person of low-income for a period of at least six months. Low income is defined as adjusted-gross yearly wages of $33, 950 or less, as evidenced by the employer’s most recent payroll records.
Grant funds may be utilized in a variety of creative ways to support the small business, generate income, and ultimately preserve the jobs of low income employees. These uses may include:
- rent or mortgage payments
- equipment to facilitate the outdoor conduct of business during winter months
- supplies and equipment that reduce risk of coronavirus transmission
Grant awards are scheduled to be announced by February 2021.
Application forms, and program and eligibility guidelines can be found on the City’s website: https://www.saratoga-springs.org/2587/COVID-19-Small-Business-Grant-Program .