Grants will be made in a one-time lump sum payment. Up to $20,000 in cash grant funds are available per business.
Grant amounts will be determined based on the business's demonstrated financial impacts and/or annual operating revenue.
Grant funds may be used for:
- Payroll and benefits, costs to retain employees, and mortgage, rent, utility, and other operating costs
- Technical assistance, counseling, or other services to support business planning
- Businesses in qualifying census tracts in Norristown and Pottstown may also use funds for rehabilitation of commercial properties, storefront improvements, and façade improvements
Examples:
• A small business in Norristown opened in February 2021. On their 2021 tax return, the business reported $15,000 in net revenue. They apply to the “streamlined” grant program by submitting that tax return and receive a $10,000 grant.
• A small shop in Pottstown was earning $150,000 in annual revenue prior to the pandemic. Due to loss of foot traffic, the shop is now earning about $80,000 annually and showing losses of about $70,000. They submit tax returns to demonstrate these losses and receive a $20,000 grant through the ‘Impacted Businesses’ program.
• A small business in Lansdale was earning a net income of $50,000 annually prior to the pandemic. Due to increased supply costs, they are now spending more for their products and their net revenue is $35,000. They apply to the “Impacted Businesses” grant program showing the financial impact of $15,000 and receive a grant for that amount.