The Micro-Enterprise Small Business Assistance Program will be launched on Tuesday, June 10, 2020 at 10:00 a.m., which is designed to assist critically impacted businesses that had established success in their market prior to the COVID-19 disruption and were required to close operations due to the safer at home orders. This Program will be funded by a supplemental appropriation of Community Development Block Grant (CDBG-CV) funding made available under Coronavirus Aid, Relief and Economic Security (“CARES”) Act. Due to the limited funds for this highly competitive Program, there will be a pre-application process limited to the first 300 submitted pre-applications. The City anticipates awarding at least 95 approved grantees through a lottery process.
Approved Use of Grant Funds:
Eligible businesses can receive grant funds of up to $5,000 to pay for up to three months of allowable business expenses including, but not limited to:
- Rent/Mortgage/Utility payments
- Coronavirus (COVID-19) mitigation protocols (such as face masks and/or shields)
- Payroll for existing employees
- Business supplies, equipment or software
- Marketing materials, website design
- Product inventory
- Professional Services, such as Accounting, Legal, Insurance, and Consultant Services
- Costs associated with providing employee training required by the business
- Business should be legally operating for two years and in good standing with the City and have no outstanding property code enforcement issues.
- Business must have no more than five employees (full-time, part-time, including owners).
- Business must be a “for-profit” enterprise operating legally in the City of Hollywood. Not-for-profit organizations and home-based businesses are not eligible to participate in the Program.
- Businesses in critically impacted business sectors are eligible to apply for the Program.
- Business must have experienced at least a 50% reduction in revenue as a result of the COVID-19 disruption.
- Business, if eligible, must have applied for any of the loan Programs from the SBA such as the Economic Injury Disaster Loan, the Payroll Protection Program, or a State of Florida Program such as the Emergency Bridge Loan Program. The business must provide copies of the submitted applications and documentation as well as the status of these applications (pending/approved/denied).
- Business must be located in Hollywood, Florida census tracts that contain at least 51% of the residents qualifying as Low- and Moderate-Income (LMI) persons. An interactive map of the LMI areas is located on the City of Hollywood website at http://www.hollywoodfl.org/910/Map-Gallery entitled “LMI Block Groups”.
Business Location Verification:
Businesses must be located in Hollywood, Florida census tracts that contain at least 51% of the residents qualifying as Low- and Moderate-Income (LMI) persons. An interactive map of the LMI areas is located on the City of Hollywood website at http://www.hollywoodfl.org/910/Map-Gallery entitled “LMI Block Groups”.
Before submitting a pre-application online, all interested applicants should confirm that their business is located within the eligible boundaries. Enter your business address in our interactive LMI map to see if your business qualifies for this program.
Does your Hollywood business meet all the eligibility requirements listed above? Is your business also located within the City’s designated LMI boundaries? If so, you may submit a pre-application form here beginning on Tuesday, June 11, 2020 at 10:00 a.m. In order to complete a pre-application, applicants must upload a copy of their City of Hollywood Local Business Tax Receipt and, if applicable, their State of Florida Business License. Incomplete pre-applications will be deemed ineligible.
For questions about the Micro-Enterprise Small Business Assistance Program, please contact the City of Hollywood Economic Development team at firstname.lastname@example.org or 954.921.3620.