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Boca Raton approves $500K small business recovery program

Businesses can apply for $5K grant
Posted at 6:08 PM, May 28, 2020
and last updated 2020-05-28 18:14:21-04

BOCA RATON, Fla. — Small businesses in Boca Raton will soon be able to apply for assistance through the city.

On Wednesday, the city council passed a $500,000 Small Businesses Recovery Relief Grant program.

Staring Monday, businesses located within the city limits can apply for a one-time grant of up to $5,000 to help them recover from the coronavirus pandemic.

Grants will be awarded on a first-come, first-served basis until the total amount of the program's funding is awarded.

To be eligible for the funding, businesses must meet the following criteria:

  • Types of Businesses: Businesses must be for-profit, and must qualify as a restaurant, retail or retail service business with a physical location within the city customarily open for customers/patrons
  • Closure: The physical location of the business must have been closed as a result of the COVID-19 public health emergency (except for delivery, curbside pick-up and related activities)
  • Multiple businesses: Owner(s) of more than one business may apply for a grant for each business, provided that each business has a separate Employer Identification Number (EIN) issued by the Internal Revenue Service and meets the criteria of the Grant Program
  • Other Funding: Businesses may not have received funds from the Paycheck Protection Program under the Coronavirus Aid, Relief, and Economic Security (CARES) Act established by the federal government (PPP) or other COVID-19 government relief funding
  • Business History: Businesses must have been in business in the city for at least one year prior to March 1, 2020
  • Business Tax License: Businesses must have a current city business tax license
  • Number of Employees: Each business must have employed at least three employees and no more than 25 employees as of March 1, 2020
  • Sales: Businesses must have had annual average sales prior to March 1, 2020 of less than $1 million
  • Sales Reduction: Businesses must have experienced at least a 50% reduction in revenue as a result of the COVID-19 public health emergency

The online application will go live on Monday, June 1 at 8 a.m.

Click here to learn more about the program.