Redmond offers $1.5 million in small business relief grants

Applications are due by Sept. 18

September 8, 2020 1:30 am

The city of Redmond and OneRedmond are partnering to offer a $1.5 million small business resiliency grant fund, with local Redmond businesses and nonprofits able to receive up to $10,000.

The grant is eligible to Redmond located organizations and companies with 25 employees or less, that were impacted by COVID-19. Applications are available until Friday, Sept. 18. at this link.

Additional information on the grant’s details from OneRedmond are available below:

To expedite the process, submittal via the online application is preferred.

However, if you do not have the ability to fill out the application and submit online, please email smallbusinessgrant@oneredmond.org or call OneRedmond at 425.885.4014 to pick up or be mailed a hard copy application.

If you require translation services for the application, please contact OneRedmond by emailing smallbusinessgrant@oneredmond.org or calling 425.885.4014.

In addition to the application, a cash-flow analysis and recovery template form will be provided in the application portal and will be optional for application completion. We strongly encourage businesses to take the time to do this work, as this is a critical step for your recovery. In addition, the cash-flow analysis and recovery form will help us determine what types of advisory support is needed to support your specific business.

While not required, the uploading of substantial COVID-19 related expense receipts is appreciated.

Grant funds can be used to support the cost of business interruption due to COVID-19 as a result of required closures, voluntary closures to promote physical distancing, or decreased customer demand, including:

  • Payroll expenses
  • Utilities
  • Machinery and equipment (Example: HVAC upgrade)
  • Equipment needed to advance technology used in response to COVID-19
  • Company revamp or conversion into a virtual business
  • Personal Protective Equipment (PPE) and/or sanitation supplies, equipment and services
  • Modifications and changes temporarily or permanent to business operations
  • Marketing

Submittal of major invoice receipts related to the above expenses is allowed and appreciated.

To be eligible, businesses:

  • Must be ready to or have pivoted/reopened and/or accommodated the new business environment.
  • Must have generated business revenue for at least 12 months and have less than $2 million in gross annual revenue.
  • Must have an active City of Redmond Business License and be in good standing with the City of Redmond and the State of Washington.
  • Must have been in operation as of March 1, 2019.
  • Must have a physical office or storefront within the city limits of Redmond.
  • Must have at least one full-time equivalent but no more than 25 full-time equivalent employees.
  • Can be for profit or non-profit organizations.
  • Must demonstrate hardship due to COVID-19, such as loss in revenue or requirement to purchase PPE, air filtration systems, etc.
  • Only one application per business will be considered. Chains (national or local with three or more locations) will not be eligible for awards.
  • Be able to explain and show how funding can be used in the immediate term to stabilize or sustain businesses. Must provide detailed examples/outline.
  • Must comply with CARES Act provisions.

Applicants will be notified of grant decisions via email for all online applications and via letter for hard copy submittal in October 2020.

If awarded, grant recipients will need to submit a W-9. Grants will be distributed by automatic payment (ACH) or check payment by Oct. 31, 2020.

To determine success of grant program, confidential, brief quarterly reports from awardees will be requested for first year after receipt of grant. Grant funds may be taxable. Please consult your financial advisor for guidance. A 1099 will be issued, as required by the IRS no later than January 2021.