In an effort to help stabilize local hospitality businesses currently open and operating within the CRA District due to effects from COVID-19, the Lake Worth Beach CRA is offering a Quick Action Emergency grant program. Although Federal funding is available through the SBDC, many of our small, local businesses are struggling to keep employees and must work around increasingly restrictive requirements.
Local, small, for-profit businesses with between 3-20 full time employee’s (FTE’s) can apply on-line for up to $2,500 (in $500 increments) in working capital grants. Our goal is to fund businesses that require face-to-face interaction with customers and have been severely impacted by the virus. Details are provided below:
- Limited to restaurants and bars in the CRA District that have been open for at least one year and are presently open and operating.
- Business payrolls must be provided for the last six months.
- Businesses must have an active Lake Worth Beach business license, an EIN number, a bank account, have no outstanding liens or legal judgements.
- Applications will be accepted on a first come, first serve basis but the applications must be complete and the necessary back-up uploaded for CRA Staff to review.
- Although there is no deadline to apply, we ask that businesses receiving SBDC assistance not apply unless that assistance will not arrive in time to save jobs or major loss of income.
- Applications will be accepted on a rolling basis or until funding is no longer available.
- Only local businesses that are NOT franchises or national chains may apply.
- We ask that businesses only apply for what is needed so we can help as many businesses as possible.
- Required back-up includes, but is not limited to: a deed or tenant lease, IRS W-9 form, sales tax reports, payroll registers, bank statements, Lake Worth Beach and State of Florida Business License, quarterly payroll reports (IRS form 941 and quarterly Florida Department of Revenue form RT-6).