More Delaware small businesses and nonprofits are eligible to apply for DE Relief Grants under changes made to the program.
With the third application round getting under way, small businesses will no longer need to demonstrate a revenue decline of at least 7.5 percent from 2019 to 2020. Instead, they will only need to prove they experienced a decrease in revenue, regardless of size.
This change also applies to businesses that have already received a grant. (Note: Nonprofits are not required to demonstrate a revenue decrease.)
Additionally, companies that meet the federal definition of a small business and received a Payroll Protection Program loan from the Small Business Administration of more than $1 million, are also now able to apply.
Finally, approved applicants in disproportionately impacted industries will be receiving a 15% bonus allocation to be used on any valid business expense from the date of the business’s acceptance of its grant award through the end of 2020. This applies to new applicants, as well as those awarded grants in Rounds 1 and 2.
“Hundreds of Delaware small businesses and nonprofits have already been approved for DE Relief Grants. Now we want even more to benefit from the program,” said Division of Small Business Director Damian DeStefano. “It is our hope that these changes will help those who need it most and further bolster the state’s economy as we continue to fight COVID-19 and work to protect the health and welfare of Delawareans.”
Gov. Carney this month set aside an additional $50 million for the grant program, growing the available funds from $100 million to $150 million. The money come from federal CARES Act dollars contributed by the State and New Castle County.
As a reminder, businesses and nonprofits that are applying should make sure to:
- Provide their entire federal 2019 tax return (requirement may be different for nonprofits)
- Submit their current State of Delaware business license
- Confirm their expenses are eligible
- Triple check their application for accuracy before submitting
Numerous resources can be found at delbiz.com/relief, including an extensive Q&A document, demonstration videos and a full explanation of eligible expenses. Applicants in need of additional assistance should contact the Regional Business Manager for their area at delbiz.com/contact.