The state and New Castle County are teaming up to help small businesses and nonprofits hit hard by the COVID-19 pandemic through a new joint grant program.
"To provide assistance mostly for those small businesses who experienced a significant revenue decline to enable them to stay in business, frankly. To bring people back to work," said Gov. John Carney at his weekly COVID update Wednesday.
The Delaware Relief Grants program uses $100 million in CARES Act funding, with $90 million coming from the state's allocation and $10 million coming from New Castle County’s pool of CARES Act dollars.
The grants can be used for COVID-related spending such as purchasing equipment for workplace safety, advertising, refinancing pandemic related debt and any fixed expenses an applicant accrued connected to the outbreak.
"The grants that will be available will be pretty significant for qualifying businesses," said State Division of Small Business director Damian DeStefano. "They'll be eligible to receive up to $100,000 in funding. It will be based on their 2019 federal tax return reported revenue. A percentage of that will equate to the amount of grant they can get. Most businesses we expect will be eligible for at least $30,000 in funding."
If businesses or nonprofits made $500,000 or less, they’re eligible for a grant up to $30,000, those who made between $500,000 and $1 million are eligible for a grant up to $50,000, those who made between $1 million and $2.5 million could receive up to $72,500, and businesses and nonprofits that made over $2.5 million could receive up to $100,000.
Businesses can apply online starting in September, and there will be three rounds of applications in September, October, and November.
Businesses are asked to gather their 2019 tax returns, receipts for qualifying expenses, and their Delaware Business License to apply.
Applications can be made at the Division of Small Business website.
