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REMINDER: SC CARES Act Grant Fund Opens Monday, October 19th. Grants available from $2,500 to $25,000 for Minority and Small Businesses.

SPEND THE WEEKEND GETTING PREPARED!
This is a reminder that on Monday, October 19, the SC CARES Act Management program will begin accepting applications for the Minority and Small Business Grant Relief Program. 

Take time this weekend to compile your documents so you can be among the first to apply. 

Quick Overview

SC CARES Act Grant Management Program, a statewide recovery program for the Coronavirus Relief Fund, will begin accepting applications on October 19th for reimbursements for eligible COVID-19-related expenses for Minority, Small, and Nonprofit Businesses.

APPLICATION WINDOW:
OCTOBER 19, 2020 TO NOVEMBER 1, 2020

Minority and Small Business Relief Grant Program
Provides grants to minority and small businesses to reimburse qualifying expenditures for providing services or revenue loss due to COVID-19. 
 
Priority will be given to businesses that HAVE NOT previously received PPP (Paycheck Protection Program) loan funds.

Grant Awards: Will range from $2,500 to $25,000

Eligibility Criteria:
  • Employ 25 or fewer employees
  • Physically located in South Carolina
  • In operation from October 13, 2019 to present
  • Can demonstrate a financial or operational impact due to COVID-19
Required Supporting Documentation of Organization
  •  A completed and signed IRS Form W-9 for the business
  • Government-issued ID for at least 1 business owner 
  • Brief statement on business prior to COVID-19 and what the effects of COVID-19 have been to the enterprise
Required Documentation of Expenses
  • Business staffing costs: Payroll records that shows employees, hours worked, dates worked, and pay rate
  • Business operating costs: Invoices/receipts of purchases, Contracts and/or purchase orders for purchases
  • Facility costs: Rent, lease, or mortgage statement for business property (cannot be a personal residence); Rent, lease, or purchase statement for equipment; Utility bill for the business property (cannot be a personal residence)
  • Revenue loss: Revenue reduction worksheet (template to be provided) that shows total loss of revenue for March-November 2020 as compared to March-November 2019
  • One of the following Supporting Documentation:
    • 2019 and 2020 quarterly or annual tax filings
    • Profit/Loss Statement 
    • Business financial ledger
    • Bank statements 
    • Tax returns
    • Proof of contracts with dollar amounts
    • Certified Accountant Statement
    • Schedule C
    • Form 940 or 941 
Click here for more information on Minority and Small Business Relief Grant Program.
 
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