LAKE COUNTY LAUNCHES GRANT PROGRAM TO AID BUSINESSES

Struggling Lake County businesses now have an opportunity for more assistance.   As a part of the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act, a federal stimulus package, Lake County is allocating up to $16 million in emergency relief to help support local businesses and non-profits within the County that have been negatively impacted by the COVID-19 pandemic. 

Qualifying businesses may be eligible to receive a one-time grant to help their financial recovery.  The grants are available on a first-come, first-serve basis for accurate and complete applications.

FOR-PROFIT BUSINESSES

Qualifying businesses may be eligible to receive a one-time grant of $2,000 for self-employed or sole-proprietors, $5,000 for businesses that have 2 to 9 full-time equivalent employees or $7,500 for businesses that have between 10 and 25 full-time equivalent employees to help them recover from the negative financial consequences resulting from the COVID-19 pandemic. 

ELIGIBILITY
⦁ Business had 25 or fewer FTE* employees, including the owner, as of January 1, 2020. 
⦁ Business has been negatively impacted by the COVID-19 emergency. 
⦁ Business has a physical location in Lake County that is legally operating prior to January 1, 2020. 
⦁ Business can demonstrate ongoing operations within Lake County through February 15, 2020. ⦁ Business expects to continue/resume operations after all State Executive Orders restrictions are lifted. 
⦁ Business is not a subsidiary or partially owned by a publicly traded company or a hedge fund. ⦁ Business does not have any legal actions against or from Lake County or its municipalities, including code enforcement liens. 
⦁ No owner, officer, partner, or principal actor of the business has a felony conviction for financial mismanagement within the last two years for which he or she is still serving a sentence (including prison, parole, and probation). 
⦁ Business is not operating in violation of any state, federal or local laws. 
⦁ Business was determined to be a non-essential business affected by State of Florida Safer-at-Home executive orders and/or was mandated to close or reduce operating capacity. 

Documentation Required to Upload 
⦁ A Completed IRS Form W-9 
⦁ The following, as applicable: 
⦁ Most recent State of Florida business filing Annual Report 
⦁ DBA/Fictitious Name registration 
⦁ Most recent County Business Tax Receipt and/or City Business Tax Receipt 
⦁ 2019 IRS Form 1040 – Schedule C 
⦁ IRS Form 941 (Q4 2019) or IRS Form 943 (Annual 2019) for business paying wages 
⦁ Driver’s License Copy for each applicant (front only)

RELATED:  Support local businesses by voting for your favorites in the Best of Mount Dora awards. 

NON-PROFITS

Lake County is currently allocating up to $3.5 million in emergency relief to support local non-profits and Chambers of Commerce with a presence within the County that have been negatively impacted by the COVID-19 pandemic. Funds are available as part of the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act federal stimulus package. As a part of that relief, the County is offering emergency financial support through the Lake CARES Small Business Assistance Grant Program on a first-come, first-serve basis for complete and accurate applications. Qualifying non-profits and Chambers of Commerce may be eligible to receive a one-time grant of $5,000 for organizations that have 25 employees or fewer to help them recover from the negative financial consequences resulting from the COVID-19 pandemic. 

Non-Profit Eligibility 
⦁ Organization is a Non-profit 501(c)(3) or Chamber of Commerce. 
⦁ Organization has 25 or fewer FTE* employees, including owner, as of January 1, 2020. 
⦁ Organization has been negatively impacted due to the COVID-19 emergency. 
⦁ Organization has a physical location in Lake County that is legally operating within Lake County and the State of Florida prior to January 1, 2020. 
⦁ Organization expects to continue/resume operations after all State Executive Orders restrictions are lifted. 
⦁ Organization is not a subsidiary of another organization. 
⦁ Organization does not have any legal actions against or from Lake County or its municipalities, including code enforcement liens. 
⦁ No owner, officer, partner, or principal actor of the organization has a felony conviction for financial mismanagement within the last two years for which he or she is still serving a sentence (including prison, parole, and probation). 
⦁ Organization is not operating in violation of any state, federal or local laws.

Documentation Required to Upload 
⦁ A Completed IRS Form W-9 
⦁ A copy of IRS 501(c)(3) determination letter or other IRS recognition document 
⦁ The following, as applicable: 
⦁ Most recent State of Florida business filing Annual Report 
⦁ DBA/Fictitious Name registration 
⦁ Most recent County Business Tax Receipt and/or City Business Tax Receipt 
⦁ IRS Form 941 (Q4 2019) or IRS Form 943 (Annual 2019) for organizations paying wages 
⦁ Driver’s License Copy for each applicant (front only) 

Business can learn more and sign up here.  
* A full-time equivalent (FTE) is a way for employers to measure how many full-time employees they have, along with the number of part-time employees that can be translated into full-time terms. For the purposes of the application, full-time is based off of a 40-hour work week. Your FTE number = (Total number of hours worked by part-time employees per week / 40) + The number of full-time employees you have.
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