COVID-19 Impact Fund Program
About the Grant
The City of Nashua is announcing that the first round of applications for the COVID-19 Impact Fund Program will be available beginning May 7, 2020, due back by 5:00pm EST May 14, 2020. The City has established the COVID-19 Impact Fund to assist in the stabilization of existing small businesses and non-profits within the City that have had significant disruption due to the impact of COVID-19. The awards are expected to be announced and in recipients’ hands before the end of June.
This Program is currently funded through a variety of sources, including the City’s Revolving Loan Fund, the Community Development Block Grant and the Downtown Improvement Committee. Both grants and loans will be offered depending on the entity’s eligibility under the different funding sources.
The COVID-19 Impact Program must help contribute to the business or non-profit’s ability to remain open, retain employees, and/or provide critical services during this public health crisis.
What is Offered?
Low interest loans, with favorable repayment terms (i.e. deferred/extended) for working capital or operating costs. Grants for public service activities that prevent, plan for and respond to Coronavirus; and grants for businesses that meet CDBG guidelines or the Downtown Improvement Committee fund. We anticipate CDBG and RLF awards to be approximately $25,000 per entity, however individual awards will vary and be on a case-by case basis. Grants from the Downtown Improvement Committee fund are capped at $5,000 per business. Funds will not be pooled; awards will be from only one source. The intent is to assist as many entities as possible
Please read the full program guidelines before applying. This document contains full eligibility requirements and terms.
How to Apply
A separate application has been created for businesses and non-profits. The application will be completed online through a host (JotForm). You will attach all supporting documents to the online application.The links below will bring you to a request form; once completed, JotForm will send you an email with a unique link to complete your application. The application can be saved in sessions by clicking the “Next” or “Back” buttons on the bottom of each page (you must click a button to save work on each page). Before you begin, please review the checklist below to ensure you have the information/documents needed to submit.
Information Needed to Complete an Application:
• Tax ID/EIN
• Square footage of occupied space
• Average gross annual receipts
• Personal funds invested to date
• # of employees
|• # of jobs to be retained; and if they are low-moderate income jobs|
|• Annual income of owner (if applying for CDBG grant)|
|• Most recent business taxes and personal taxes for all owners with 20% or more ownership interest|
|• Documents to support costs requested, i.e.:
- Mortgage/lease statement
- Payroll roster
- Profit & Loss statements
|• City of Nashua Substitute W9 Form|
|• Tax ID/EIN|
|• Details of services provided: description, # and type of beneficiaries; time period for services|
|• Fiscal year start & end date|
|• Organization annual budget amount|
|• Restricted assets & restricted revenue|
|• Projected operating deficit|
|• Funding request: loan amount if operating; breakdown of activity costs if seeking grant|
|• Most recent agency audit management letter, identifying if any findings exist (ONLY needed if not provided for 2020 CAC grants)|
|• City of Nashua Substitute W9 Form (ONLY needed if not provided for 2020 CAC grants)|