PLEASE NOTE: Some of the requirements have changed to this program.

The Town of Tiverton, with Community Development Block Grant (CDBG) funds provided by the R. I. Office of Housing and Community Development (OHCD), and the U.S. Department of Housing and Urban Development (HUD), is offering working capital grants to qualifying small business microenterprises adversely impacted by COVID-19. Required forms are located at the bottom of this page.

Grant Amounts: $5,000 grants will be disbursed via a single lump-sum payment to approved, eligible microenterprises.

Uses of Funds:  Funds may be used for working capital to cover business costs, such as rent, staffing, and utilities.  MicroE funds may not be used for major equipment purchases, purchase of real property, construction activities, business expansion, or lobbying.

Eligible Businesses:  Certain types of microenterprises are eligible.  A microenterprise is defined as a commercial enterprise that has two to five employees, one or more of whom owns the enterprise.
 
The microenterprise owner’s gross annual family income may not exceed the applicable threshold below, based on family size and town of residence (not where the business is located).
 
FY 2020 Mod/Low Income (80%) Limit



Businesses must meet the following eligibility criteria:

• Be a microenterprise, as defined above
• Be owned by low- or moderate-income person(s) (≤80% of the Area Median Income, based on family size)
• Be a for-profit entity (sole proprietorships, partnerships, corporations, or LLCs)
• Have a physical establishment in the city/town of application
• Provide goods or services to multiple clients or customers
• Be in good standing with the state and town
• Be current on all taxes due through 3/1/2020
• Active and valid state licenses/registrations, if applicable
• Not a party to litigation involving the state or town
• Be able to document a loss of income of at least $1,000 due to COVID-19
• Have been established prior to 1/1/2019
• Have annual gross revenues greater than $25,000
• Have at least two employees, including the owner(s)
• Have not received monies, or award/approval from the Economic Injury Disaster Loans (EIDL) or the Paycheck Protection Program (PPP) at time of application

• Not be listed under the excluded business types, as amended (see below)

Excluded Business Types: The following business types are excluded from participating in this program:

• Cannabis-related businesses;
• Real estate rentals/sales businesses;
• Home-based businesses with no employees;
• Businesses owned by persons under age 18;
• Businesses that are franchises or chains;
• Liquor stores;
• Weapons/firearms dealers;
• Lobbyists;
• Persons operating as independent consultants/contractors and providing services to a single entity;
• Home-based businesses that are restricted to patrons below the age of 18;

Microenterprises owned by students age 18+ are generally ineligible, unless the student owner is the sole means of financial support for other family members.

To apply please contact the Town of Tiverton’s Planning Department at 401-816-5631, or planner@tiverton.ri.gov to discuss whether your business might qualify for assistance. Potential applicants will then need to complete a phone interview with Town staff to determine program eligibility.

Required Documents:  Applicants must submit all application forms, and supporting documents, including copies of:

• Driver’s License or State-Issued Photo ID
• Personal tax returns for all adults filing separately (2018 or 2019)
• Business tax returns (2018 or 2019)
• Copies of payrolls for most recent pay period and pay period ending on/before 3/7/2020
• Copies of receipts for impacted period in 2020 (e.g. March), and same period in 2018, 2019

FOR COMPLETE PROGRAM GUIDELINES AND APPLICATION MATERIALS, CONTACT:
Tiverton Planning Department
Jennifer Siciliano, Town Planner
343 Highland Road Tiverton, RI 02878
401-816-5631 – planner@tiverton.ri.gov

FORMS:

Application
Checklist
Conflict of Interest
Certification
Consent to Release
Income - Self Certification
Quarterly Report

 

https://commerceri.com/emergency-grants-and-funding/

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