To mitigate the impact of COVID-19 on Norcross’ small businesses and employees, the City of Norcross is investing $600,000 American Rescue Plan Act (ARPA) funding in an ARPA Small Business Grant Program, in partnership with Access to Capital for Entrepreneurs (ACE), to provide qualified small businesses with funding for operating expenses.
Funds originate from the American Rescue Plan Act, which regulates how funding may be used. The program’s purpose is to offer financial assistance to small businesses located within Norcross city limits who have been negatively impacted by COVID-19, stabilize, and sustain Norcross businesses, and ensure they are able to retain employees. Grants may be used to pay:
- Rent, lease or mortgage costs,
- Utility bills,
- Business-related insurance,
- Inventory expenses including covering any loss of inventory
- Other operating expenses
The ARPA Small Business Grant Program requires the small business grant applicant to demonstrate both need, and appropriate use of funds, by submitting appropriate financial documentation and receipts.
Applicants must meet the following criteria:
1. a) Operate a small business, having 1-10 full-time equivalent employees, from a commercial location within the city limits of Norcross, GA, on or before January 1, 2019, OR
b) Operate a small business, having 2-10 full-time equivalent employees, from a home-based location within the city limits of Norcross, GA, on or before January 1, 2019.
2. Possess an active (not expired) City of Norcross Business License for years 2019 – 2021.
3. Demonstrate an annual revenue decline of 25% or more for tax years 2019 and 2020, because of COVID-19, and supported by appropriate tax documentation.
4. Have filed or completed tax returns for 2019 and 2020 in the business name.
5. Be recognized as a domestic corporation in good standing in the State of Georgia.
Grant awards are based on annual revenue in 2019:
- Annual Revenue of $25,000-$1,000,000 = $10,000 Grant
- Annual Revenue of $1,000,001 + = $15,000 Grant
Please note, if we receive more applications than funds are available, we will select awardees via a lottery system.
The grant application process launches on December 1, 2022, and ends at 12:00 a.m. on January 3, 2023.