Bucks County Offer of Small Business Grants Requires Quick Action

 

Much has been made and reported about the federal government’s effort to sustain the economy and assist working families through programs such as enhanced unemployment benefits and the Payroll Protection Plan.  AMM has assisted many small business owners in negotiating the application process and anticipating both documentary requirements and potential financial consequences of the available programs.  State and local governments have also offered programs to the business community.  Bucks County has now announced the creation of a new grant funding opportunity: the “Bucks Back to Work Small Business Grant” program.  Availability is limited, however, and the application window is small so qualifying business owners must act quickly to obtain a share of the grant fund.      

The Commissioners have allocated $6 million to the creation of the fund.  The program provides a “grant” – meaning money that is not a loan and does not require repayment - benefit of up to $25,000 or 25% of annual operating expenses, whichever is lower per applicant.  Unlike other programs, there is no “window” of time through which payroll is examined.  Further, the program does not exclude businesses which have received PPP or other emergency funding.  Accordingly, it appears small businesses could apply the grant funds to time periods after the end of the federal benefit and thereby extend the time period of relief.  

The fund is focused on existing “for profit” small business and sole proprietors physically located in Bucks County.  An applicant’s gross revenue must not exceed $700,000.00 annually.  There is no application fee.  Funds can be utilized to satisfy business operating expenses such as salaries, rent, supplies and other operating expenses which may not be permissible under the PPP program.

Application to the program will be available for one day only, Tuesday May 26 between 5:00 a.m. and 9:00 p.m.  The application is available on the County website through the COVID – 19 portal.  The County strongly prefers digital application; however, paper applications will be accepted at the County Administration Building, 55 East Court Street, Doylestown, PA 18901 from 10:00 a.m. to 4:00 p.m.           

Additional information regarding the program, the application and information which will be considered by independent third party reviewers is available on the County website.  

Click here to view the grant information sheet    

 

 

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