Round 2 of Lynnwood Small Business Relief Grants Now Available - Apply Today!

City of Lynnwood Washington sent this bulletin at 09/18/2020 11:53 AM PDT

Round 2 of Lynnwood Small Business Relief Grants Now Available - Apply Today!

$10,000 Grants Available to Small Lynnwood Businesses

On Monday, September 14, 2020, the Lynnwood City Council unanimously approved the allocation of an additional $300,000 of the City's federal CARES Act funding to be put towards a business relief program to provide economic support to our local small businesses that have been negatively impacted by COVID-19.

During round 1 of the Small Business Relief Grant program the City of Lynnwood distributed 50 grants of $10,000 to local small businesses.

Eligible Businesses: In order to be eligible for the City of Lynnwood Small Business Relief Grant, the following eligibility requirements must be met:

For-profit businesses with a physical (brick and mortar) location in the City of Lynnwood
Been in operation and licensed with the City of Lynnwood since May 31, 2019
Have a current City of Lynnwood Business License
10 or less employees, including the owner
Ability to demonstrate at least a 25% decrease in revenues due to COVID-19
Businesses who did not receive a Lynnwood Small Business Relief Grant in Round 1

Eligible Expenses:

Retaining and/or supporting employees, payroll and benefits
Business rent or mortgage payments
Increasing technology capacity to enable alternative work forms or service delivery
Creating new marketing campaigns
Revising business plans
Paying vendor invoices, utility bills or purchasing inventory and supplies
Facility cleaning/restoration
COVID-19 related expenses including PPE or improvements to meet safety and social distancing requirements

Application:

The application is available now and must be submitted online by September 27, 2020 at 4:00PM. No applications will be accepted after this deadline. For more information or to apply online visit:

www.LynnwoodWA.gov/SmallBusinessGrant

All eligible businesses submitting a complete and timely application will have a chance to receive a grant of up to $10,000 until all funds are exhausted. A total of $300,000 of funding is available. Funds may be used for existing operating expenses, including business rent or mortgage, payroll, utilities, inventory, marketing, and improvements to meet social distancing requirements. Documentation of expenses will be required to be submitted if a grant is awarded, and eligible expenses must be incurred within the time period of March 1, 2020 to November 30, 2020.

Funding is limited. All applicants may not receive a grant, and some applicants may receive a grant in an amount less than $10,000. Grant funds may be taxable. Please consult with your financial advisor for guidance. Grant recipients will be required to enter into a Grant Agreement with the City which will require the filing of a report on how the funds were spent. Grant recipients must also submit a W-9.