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Grants

Micro- CV Grant

Community Development Block Grant – CARES (CDBG-CV) Direct Grant Program

Grafton Regional Development Corporation (GRDC) and three partner regional economic development corporations–Belknap, Coös, and Wentworth–have received more than $200,000 in CARES Act grant funding for small businesses that have been negatively impacted by the Coronavirus pandemic.

The Community Development Block Grant – CARES Act Funds Program (CDBG-CV), administered by the Community Development Finance Authority (CDFA), is for low- to moderate-income (LMI) microenterprises and start-ups to offset costs associated with preparing for, responding to, or recovering from COVID-19.

Qualifying LMI businesses may receive up to $2,500 in direct grant funding to be applied toward equipment costs, operational expenses, working capital, and minor construction or modification projects.

Eligibility

Qualified applicants must satisfy the following:

• Be classified as a for-profit entity with five or fewer employees, where one or more of whom owns the business.

• Be currently in operation or, if not in operation, must have an intent to open.

• Primary office or place of business must be located within Grafton County.

• Meet the US Department of Housing and Urban Development (HUD) definition of low- to moderate-income. To qualify as LMI, an individual’s total annual family income must be less than or equal to 80% of the HUD median family income for the county or area where they reside. You can view this information here; select New Hampshire as the state and your town/county of residence.

Forms and Documentation

Working with GRDC staff, eligible applicants must complete the following:

•  Micro-CV Application

•  Family Income Verification Form

•  Dun & Bradstreet Number (DUNS). Not sure what a DUNS number is or if you have one? Check out our  FAQ.)

•  Duplication of Benefits (DOB) Spreadsheet

•  To ensure that recipients have not received duplicative assistance from other federal funding programs (e.g., NH Main Street Fund, Paycheck Protection Program, other Small Business Administration-sponsored programs), applicants must complete a DOB spreadsheet to determine eligibility. GRDC will work with you directly to compile this information.

•  Private loans and lines of credit do not count toward DOB; they will need to be disclosed, but not deducted from total eligibility.

•  Microenterprise Direct-Grant Assistance Service Agreement

•  This document will be provided by GRDC to eligible businesses. It serves as the formal funding agreement between the business and GRDC and helps to safeguard against duplication of benefits.

Additional Grant Information

• Applicants with minor construction or modification expenses will be eligible for a maximum grant award of $1,999. Please note that the total cost of the construction or modification project may not exceed $1,999.

• Grant applications will be prepared by GRDC and submitted to CDFA for approval and awarding.

• Grants will be awarded until all funds have been dispersed.

• Once approved for the CDBG-CV funds, applicants will be required to submit a claim for reimbursement or advanced payment of the pre-approved expenses.

• The application process may take up to three months for funds to be dispersed to the small business

Ready to start? Click here to fill out an application, or call us at 603-536-2011 ext. 1 with any questions.

For more information on the Micro-CV grant, visit our FAQ page.

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