Northampton Emergency Small Business Grant Program
NEW Resources for Applicants from Valley Community Development:
- Policies and Guidelines FINAL 4.10.20
- SAMPLE APPLICATION
- PROFIT & LOSS TEMPLATE
- ELIGIBILITY RESTRICTIONS
- Watch a recording of the 4/13 Zoom Info Session
>> LINK TO PARTICIPANT PORTAL <<
The City of Northampton and Valley Community Development are proud to announce the Northampton Emergency Small Business Grant Program.
The purpose of these grants is to provide funds to low and moderate income businesses to assist them in remaining open, as well as stimulating and pivoting their businesses during this time of COVID-19 and in the future.
Valley Community Development will administer the program by accepting applications, determining eligibility, reviewing documentation and determination of recipients. The City of Northampton will allocate the funds, execute the grant agreement, and follow up with each business.
Please review the eligibility restrictions carefully, as these funds are limited and our process will become overburdened if non-eligible small businesses apply.
Note that the funds are available on a first come, first eligible, first complete application basis, subject to availability of funding.
The application process will open on Wednesday, April 15th at 9:00 am. Applications are not ready yet, but will be available through a website link on this page.
Before that date, we suggest you review the eligibility requirements and prepare your business plan and/or business concept so you will be able to submit your application as close as possible to the submission date.
Thank you for your interest and please be patient with this process. Please like Valley CDC’s FaceBook page and sign up for their email newsletter to keep updated.
ELIGIBILITY REQUIREMENTS
This grant has specific eligibility requirements.
- The business must be located in the City of Northampton.
- The business must have been operating for at least one year, as of March 1, 2020.
- The business must employ 10 or fewer people including the owner, part-time and full-time employees on the business payroll at the time of the application.
- The business must be a for-profit business operating within the City of Northampton. Non-profit entities are not eligible.
- Businesses must submit a business plan or business concept plan and demonstrate their ability to pivot their business.
- The business owner(s) must be low/moderate income or at least 51% of their employees must be employed in low/moderate income positions. Income is to be calculated/projected for the period January 1, 2020-December 31, 2020.
Maximum household income levels by household size:
- 1 Person – $49,700
- 2 Person – $56,800
- 3 Person – $63,900
- 4 Person – $70,950
- 5 Person – $76,650
- 6 Person – $82,350
- 7 Person – $88,000
- 8 Person – $93,700
ALLOWABLE USES OF GRANT FUNDING
Because the purpose of the grant is to assist businesses in remaining open, as well as stimulating and pivoting their businesses during this time of COVID-19, these are the allowable uses:
- Machinery
- Inventory, Materials or Supplies
- Equipment
- Consulting Services
NON-ALLOWABLE USES (not exhaustive)
- Working capital
- Rent/mortgage
- Utilities
- Salaries
- Vehicle purchase/lease
- Paying tax liens
- Paying outstanding debt
FUNDING DETAILS
- Total amount the City of Northampton is expected to release is approximately $150,000 for this program
- Maximum grant amount is $10,000
- Minimum grant amount is $2,500
- City expects to distribute between 20-25 grants with an average grant of $5,000
- The grant will require repayment only if the terms of grant agreement are not met. Terms of the grant include documentation of the product or service that was purchased with the funds and usage of the grant within a specific amount of time, less than two months from the time of acceptance.
- Applications to be accepted and reviewed on a first come, first eligible, first completed basis, subject to availability of funding
- Once Valley approves the business, the City will handle grant agreement, disbursal of funds and follow up with businesses
For information about Valley CDC’s Small Business Development Program, visit their website.