Businesses and nonprofits may be reimbursed for capital improvements, or purchase and/or installation of new furniture, fixtures, and equipment. Landlords are not eligible.
Applicants are limited to one application per federal Employer Identification Number (EIN). Applicants operating from multiple locations under a single EIN would be limited to one application under the sole EIN, but may pool project costs from multiple locations into a single application.
- Rent or own and operate from facility.
- Meet SBA definition of a Small Business – determined by employee count and NAICS code.
- Project cost must be at least $5,000, and incurred on or after March 9, 2020 and completed 2 years prior to application.
- Provide a current tax clearance certificate prior to approval.
- Be in good standing with Department of Labor and Department of Environmental Protection.
- Certify at time of application that they are not in default of any other EDA or State assistance.
- Certify at application the applicant is willing to pay wages that are the greater of $15/hour or 120% of the minimum wage rate. Tipped employees are required to be paid only 120% of minimum wage rate.
- Remain in the location for at least two years for grants up to $25,000, or at least four years for all other grant award amounts.
Improvement project must meet the following eligibility requirements:
- Interior or exterior building improvements, or purchase and/or installation of furniture, fixtures, and equipment (FFE).
- Total project cost must be at least $5,000.
- Work must be complete on or after March 9, 2020, but no more than 2 years prior to application date.
- Projects with total costs over $50,000 are subject to Green Building Standards for lighting and/or mechanical work.
- Projects utilizing contractors with 4 or more employees (total workforce, not specific to project) may be subject to Affirmative Action requirements.
Home-based businesses are not eligible for reimbursement for renovation or improvement projects. Applicants are responsible for all applicable local approvals (i.e. zoning and building permits). If applicant leases space, then landlord’s permission to make improvements is required.
“Capital improvements” shall not include site acquisition; vehicles and heavy equipment not permanently located in the building, structure, facility, or improvement; any capital improvement for which the business received any grant financial assistance from any State source; costs of a lease, including any capital lease; or any soft costs.