ROUND TWO - Small Business Grants

Round Two Small Business COVID INTERRUPTION Fact Sheets

 

December 14, 2020

RE: Round #2 Small Business Grant Funding Available via Application Received by Dec. 20^th

 

I wanted to provide you with an update on the status of:

Round #1: SD CARES Small Business Grant Applications (covering business income – February to August 2020); and

Round #2: Small Busines Grant Applications (covering business income – August 2020 thru November 2020).

 

1.     Round #1 Applicants should expect to receive a check in the next couple of weeks.

2.     Round #2 Extends Grants for Business Operations from September – November, 2020.

 

Ø  The new grant opportunity will be for the time period of September – November. The grant criteria from the first round will stay the same for small businesses and non-profit businesses. Start-up businesses who applied during the first round will also be eligible.

 

Ø  For returning applicants, the required information will be very condensed. They will need to fill out a new application, using the same log-in on the same application portal (https://sdcovidhelp.force.com/Grants/s/login/).

 

Ø   In addition, a business needs to upload the following documentation:

• P & L Statement for 9/1 – 11/30 for both 2019 and 2020, or other supporting documentation (bank statements, expense register, etc. – these items are only required if the applicant is submitting handwritten documents) The numbers input into the application must match the numbers on the P&L/supporting documentation, so I would recommend adding a note if there are adjustments that are made to the numbers. There is a new box in the application for this to make it easier. This will all make the review process go a lot smoother, and more importantly – quicker.

 

• If a business’s annual revenue was less than $150,000 in 2019, they do not need to submit a P&L or other supporting documentation. The information input into the application will be used instead, just like during the first round.

 

Ø  For new applicants, here is the information they should have handy and ready to submit:

• Certificate of Good Standing from the Secretary of State’s Office (a screenshot showing proof of good standing is acceptable. See attached for an example.) For sole proprietors, they should submit a copy of their tax license from the Department of Revenue. If the business does not have either, they should attach a document of explanation of why they don’t have either.

 

• Government-issued ID of authorized business owner
• W-9
• 2019 Tax return

 

• P & L Statement for 9/1 – 11/30 for both 2019 and 2020, or other supporting documentation (bank statements, expense register, etc. – these items are only required if the applicant is submitting handwritten documents) The numbers input into the application must match the numbers on the P&L/supporting documentation, so I would recommend adding a note if there are adjustments that are made to the numbers. There is a new box in the application for this to make it easier. This will all make the review process go a lot smoother, and more importantly – quicker.

 

• Information regarding all COVID aid for 2020. Like the first round, any federal grant amount, like PPP, will need to be deducted from the potential grant award. For businesses who may have had PPP loans or other aid, they will be given the voluntary opportunity to provide their March – August financial numbers and statements so that the aid could be counted against any potential losses during that time period. It’s important to note that they would not be eligible to receive any funding for the March – August loss if they did not apply during the first round, but providing the numbers & documentation has the potential to help for this round of funding.

 

Ø  On-line, fully completed Applications for Round #2 – must be submitted by or before Sunday, Dec. 20^th.

 

Applicants checking the status of their grant thru https://sdcovidhelp.force.com/Grants/s/login/. 

Use the email address and password used to apply for the grant to log-in.  Click “APPLICATION” in the menu at the top left of the portal home page.  Under the column “APPLICATION STATUS”, if the status is shown as “RETURNED”, applicants should immediately check their email, including junk/spam, to learn what information needs to be clarified. 

 

If you are unable to find an email regarding a “RETURNED” application, or need other assistance, call the SD CARES Grant Hotline at 605-937-7243 for assistance.

 

As Always, David

 

David Lambert

Mitchell Area Chamber and Development