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​​Chamber Connections BLOG

​Town of Warren:  Business Microenterprise Stabilization Grant (MicroE) Program

4/22/2020

2 Comments

 
Picture
​Town of Warren
Business Microenterprise Stabilization Grant (MicroE) Program
The Town of Warren, with Community Development Block Grant (CDBG) funds provided by the R. I. Office of Housing and Community Development (OHCD) and the U.S. Department of Housing and Urban Development (HUD), is offering working capital grants to qualifying small business microenterprises adversely impacted by COVID-19.
Eligible Businesses:  Certain types of microenterprises are eligible.  A microenterprise is defined as a commercial enterprise that has five or fewer employees, one or more of whom owns the enterprise. 
The microenterprise owner’s gross annual family income may not exceed the applicable threshold , based on family size and city/town where you live (not where your business is located). 

 
Businesses must meet the following eligibility criteria:
  1. Be a microenterprise, as defined above
  2. Be owned by low- or moderate-income person(s) (≤80% of the Area Median Income, based on family size)
  3. Be a for-profit entity (sole proprietorships, partnerships, corporations, or LLCs)
  4. Have a physical establishment in the city/town of application
  5. Provide goods or services to multiple clients or customers
  6. Be in good standing with the state and city/town
    1. Be current on all taxes due through 3/1/2020
    2. Active and valid state licenses/registrations, if applicable
    3. Not a party to litigation involving the state or city/town
  7. Be able to document a loss of income of at least $1,000 due to COVID-19
  8. Have been established prior to 1/1/2019
  9. Have annual gross revenues greater than $25,000
    10.Have at least two employees, including the owner(s)
  1. Not be listed under the excluded business types, as amended (see below)
Required Documents:  Applicants must submit all application forms, and supporting documents, including copies of:
  • Driver’s License or State-Issued Photo ID
  • Personal tax returns for all adults filing separately (2018 or 2019)
  • Business tax returns (2018 or 2019)
  • Copies of payrolls for most recent pay period and pay period ending on/before 3/7/2020
  • Copies of receipts for impacted period in 2020 (e.g. March), and same period in 2018, 2019
Grant Amounts: $5,000 grants will be disbursed via a single lump-sum payment to approved, eligible microenterprises.

Business Microenterprise Stabilization Grant (MicroE) Program
Uses of Funds:  Funds may be used for working capital to cover business costs, such as rent, staffing, and utilities.  MicroE funds may not be used for major equipment purchases, purchase of real property, construction activities, business expansion, or lobbying.
Excluded Business Types: The following business types are excluded from participating in this program:
  • cannabis-related businesses;
  • real estate rentals/sales businesses;
  • home-based businesses with no employees;
  • businesses owned by persons under age 18;
  • businesses that are franchises or chains;
  • liquor stores;
  • weapons/firearms dealers;
  • lobbyists;
  • persons operating as independent consultants/contractors and providing services to a single entity;
  • home-based businesses that are restricted to patrons below the age of 18;
Microenterprises owned by students age 18+ are generally ineligible, unless the student owner is the sole means of financial support for other family members
 
FOR COMPLETE PROGRAM GUIDELINES AND APPLICATION MATERIALS, CONTACT:
Bob Rulli, Director
Office of Planning & Community Development
brulli@townofwarren-ri.gov
 
 
 


2 Comments
Deb DeAngelis
4/27/2020 06:14:10 pm

Chris from Senator Reed's office suggested I contact you to see if I qualify for microenterprise grant of $5k.
Sole proprietor office located in Warren

Reply
Suzanne Munroe
4/28/2020 06:28:41 am

Hi Deb!
For Questions, guidelines and application materials please contact
Bob Rulli, Director
Office of Planning & Community Development
brulli@townofwarren-ri.gov
He will be able to answer all your questions regarding this grant.

Reply



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