Accepting Applications Aug 3rd-10th
More Information
Qualifications
- Business must have been licensed in Utah County on or before March 1, 2019.
- Business had 100 full-time employees/FTEs or less as of March 1, 2020.
- Business must be located in Utah County.
- Business experienced a significant negative impact from the COVID-19 Pandemic.
- Business can provide documentation showing a financial loss of at least a $5,000 or a 15% loss of profit between March 16 and June 30, 2020.
- Business must be open, or plan to reopen, as of the date of application submission.
- Owner must be 18 years or older and have a valid EIN or Social Security Number if a Sole Proprietor.
- Business must be able to spend the entire grant award by December 31, 2020, per U.S. Department of the Treasury requirements.
- Business owners must have the ability to document and report on use of funds.
Prepare NOW
Get all of your necessary documentation together
- 2019 Business Federal Tax Returns
- 2018 Business Federal Tax Returns
- 1st and 2nd Quarters of 2019 Profit and Loss Statement
- 1st and 2nd Quarters of 2020 Profit and Loss Statement
- Copy of Driver’s Licenses of all owners
- Copy of Business License
FAQ
“An employee is defined as an individual who receives a paid wage or salary from which employment taxes (e.g. FICA, FUTA-Federal Unemployment Tax Act) and income taxes are withdrawn and remitted to the IRS, as evidenced by business tax returns filed. For purposes of eligibility, independent contractors (also known as 1099 employees) may not be counted as employees for eligibility. A company that solely employs independent contractors qualifies as a self-employed/sole proprietor applicant for this program. “
“Funds are provided as a grant. Repayment is only required if the grant agreement is violated or the County determines a duplication of benefits has occurred. Grants will be awarded based on the number of employees as of March 1, 2020, as outlined below, with a minimum award of $1,000.
Up to $10,000 for Sole Proprietor or 1-10 Fulltime Employees or FTEs
Up to $15,000 for 11-25 Fulltime Employees or FTEs
Up to $20,000 for 26-100 Fulltime Employees or FTEs “