Q. How much should I request on the Retention Form?
A. You can enter $10,000, as this is the maximum amount available per grant guidelines. However, each community will have the discretion to award less based on their criteria. The amount will not exceed $10,000.
Q. In the application it asked for “additional documentation”. What does this entail, when will businesses turn it in, and where will I find the forms?
A. You will be required to submit just three forms: A Business LMI Form where you’ll list your employee’s initials, position, and their income, an Impact letter that will specifically explain the impact COVID-19 and the subsequent restrictions had on your business, and a Retention Letter stating how many employees the grant will help you retain. You will send the completed documents to [email protected] prior to the 3pm, May 5th deadline.
Q: I finished the application. What happens next and when might the grants be awarded to businesses?
A: Once the deadline passes on May 5th at 3pm, the applications will go through an initial review process checking to make sure the business applied in an eligible community, and meet the criteria for a small business. If the business meets those criteria the application will be sent to the community for their review, and then if approved, the community will issue the funds, ideally by early to mid-June.
Q. How do I know if I am a small business or microenterprise, and what if I’m self-employed and have no employees?
A. Per the state, a small business is a for-profit enterprise with 100 or fewer employees, and a microbusiness is a for-profit enterprise with 5 or fewer employees, with the owner being one of them. Those who are self-employed are considered sole proprietors and are eligible as they meet the criteria as a microbusiness.
Q: I have a business but I don’t take an income or receive a W-2/1099 IRS form. Can I still apply?
A: Yes! You will still want to apply. As long as your business is for-profit you will be considered a sole proprietor and eligible for funding.
Q: I applied for and received one of the OCRA COVID-19 grants earlier in the year. Can I apply again?
A. It depends on the community, as they set their own criteria. It is recommended that businesses still apply even if they received a grant in another phase of the program.
Q: My business is in an awarded community but I live in an other community. What address should I use on the application?
A. Your business is eligible, and you will use the actual physical address of the business. However, you’ll want to let the community know your personal address prior to disbursement so funds can be sent to the correct location.
Q: I have business locations in more than one eligible community. Can I apply for and receive grants in both communities?
A: If the locations are separate legal entities, then you can receive the grant for both. However, this is also dependent on the community’s criteria.
Q: What if I don’t know if my business is within the corporate limits of a community that was awarded?
A. Go ahead and apply to the community you believe your business is in. Your address will be checked during the initial evaluation to ensure your business is reviewed by the correct eligible community.
Q: How will receiving the grant affect my income for tax purposes? Is it considered taxable income?
A: You will be sent a W-9 form to be completed and returned to your community, and asked to consult with your account to determine how the grants funds may impact your taxes.
Q: Who exactly is reviewing my application?
A: Each community is setting up a review committee consisting of a combination of elected officials, business owners, and citizens. While not made public, the committee make-up is encouraged to be diverse and representative of the community.
Q. Are churches or libraries eligible to receive the grant?
A: No. Churches and libraries are not for-profit businesses.
Q: I still need help! How do I get assistance with other questions I may have?
A: Please reach out to the Evansville Regional Economic Partnership! We are here to help you with the application process and with understanding your eligibility. Please email a member of our Community Development Team at [email protected].