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COVID-19 Small Business Economic Support Fund

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COVID-19 Small Business Economic Support Fund
Small Business Oragne



Friday, July 17th the Small Business Economic Support Fund will open up for a second round of applications. The application will be online @ 12:00 pm. The program is made possible with funding provided through the Department of Housing and Urban Development’s (HUD) Community Development Block Grant – Coronavirus (CDBG-CV). The primary objectives of the program are to assist Small Businesses and Low to Moderate Income (LMI) Persons. Please review all requirements.

ELIGIBLE APPLICANTS

To qualify, any business applying must meet HUD Low to Moderate Income (LMI) eligibility requirement in one of three ways:

  • Microenterprise owner/applicant’s business has no more than 5 employees, including owner, and owner’s personal household qualifies as low to moderate income (LMI) household; OR

     

  • Small business owner/applicant can commit to retaining at least one full-time equivalency (FTE) job held by an employee from a LMI household for three months after receipt of loan funds AND can document that job would have been lost if loan assistance was not provided. At least 51% of retained jobs must be held by LMI employees; OR

     

  • Small business is located in and primarily provides goods or services to a predominately LMI residential neighborhood (like a corner grocery store).

For a complete list of Guidelines see below:


Updated Terms and Conditions

Updated Guideline 7/16/2020

To submit your application or make changes to a previously submitted application click HERE.

To Re submit a previously submitted application without changes click HERE.

*To receive the loan, you will need to register for your required SAM.gov Number (unless you already have one)
 
Click here for that. This is a free service.
*You will also have to register for your required DUNS Number (unless you  already have one)
Click here for that. This is a free service.

*If persons with disabilities and/or non-English speaking persons require assistance with the application, please notify the City via the following contact information.
 
For more information, email:  
sbesf@nlr.ar.gov
or call (501) 214-1880

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