Small Business Stabilization Grant
Small Business Stabilization Grant
PLEASE READ ALL OF THE INFORMATION BELOW BEFORE SUBMITTING AN APPLICATION.
- TO APPLY
Eligible small business owners may apply for the Small Business Stabilization Grant Program (SBSGP) subject to the Guidelines included below and in accordance with Kershaw County's Emergency Disaster Relief Ordinance No. 346.2020.
If you are unable to access the application, please call 803-432-2525. Applications will be accepted on an ongoing basis, reviewed regularly and are contingent on the availability of funds. Approved applications will be processed immediately.
SBSGP funds are designed to provide immediate financial relief needed to strengthen our local small business enterprises that have been affected by the COVID-19 pandemic. The purpose of the SBSGP is to provide assistance for a period of time as alternative revenue sources are sought or other private and/or public financing options are made available to small businesses. The maximum amount of the grant is $7,500.00.
Applications will be accepted by qualified for-profit, privately held small businesses that have been in business for at least a year (as of April 1, 2020) and located within Kershaw County, South Carolina. All qualified applicants must illustrate economic injury suffered as a result of COVID-19.
- Eligible Applicants:
- Businesses with 20 or less employees at the time of grant application; priority will be given to our most vulnerable businesses
- Businesses with a physical commercial or commercial use address within Kershaw County;
- Owners of businesses with a physical commercial or commercial use address within Kershaw County; and
- Businesses with a 20% or greater documented or exhibited loss due to COVID-19
- Ineligible Applicants, include but are not limited to:
- Hotels & Motels
- Liquor/ABC/Red Dot Stores
- National/Regional Chain Businesses
- Financial Institutions
- Private Membership Businesses
- Fraternal Organizations
- Adult Oriented Businesses
- Businesses owned in part or fully by Governmental officials living or working in Kershaw County, including Staff, Administration and Elected Officials
- USES OF GRANT FUNDING
Due to the universal financial impact of COVID-19 on our business community, we realize that the needs of our individual small business owners will vary. As a small business owner you are making a number of very difficult decisions and adjustments to save your business. To assist you during this crisis, the grant funds may be used by the business owner to pay debts, cover payroll and other bills that will help sustain a small business in the short-term until other sources of assistance or revenue have been identified by the business owner. The grant funds are supplemental and duplicative of other funding. The maximum amount of the grant is $7,500.00. Applicants must agree to provide a summary and verification report after grant funds have been exhausted, the report must indicate how the grant funds were spent and include supporting documentation.
- RIGHT OF REFUSAL
Any request for grant funding which is deemed inappropriate or not contributing to the purpose of the SBSGP may result in denial of funding by the Oversight Committee.
In order to gauge the demand, at the discretion of the Oversight Committee funds may be granted and distributed in three (3) phases. Phase I 40% of the total funds will be distributed; Phase II 30% of the total funds will be distributed; and Phase III the remaining 30% of the total funds will be distributed.
- The deadline for the first round of funding has passed.
- To be eligible for the second phase of funding, a business must submit their application no later than close of business Monday, May 18, 2020.
- The deadline for Phase III funding will be determined after the Phase II deadline and based on the volume of applications received in the previous phases.
The funding is available for sixty (60) days beginning April 20, 2020.
First Round applications will be made available by April 24, 2020. Applications for Round 2 will be available Saturday, May 9, 2020.