Recognizing the need to provide support to strengthen our local businesses and communities, the Montgomery County Board of Commissioners announced on May 6th, 2020 that it is making available $5,000,000 in economic development funds to provide grants to eligible small businesses for Round 2 of the MontcoStrong Small Business Grant Program. Round 2 grant awards will once again be administered by the Redevelopment Authority of Montgomery County in partnership with the Montgomery County Board of Commissioners and the Montgomery County Commerce Department. Eligible applicants for Round 2 may apply for a grant to cover the following costs:
◦Accounts payable, including utilities, vendors, suppliers, and working capital expenses, between May 1, 2020 through September 30, 2020.
◦Rent/mortgage payments between May 1, 2020 through September 30, 2020.
◦Debt service payments on loans and credit cards (may not exceed more than 25% of total grant award) between May 1, 2020 through September 30, 2020.
For Round 2, eligibility is based on the following criteria:
◦Be a for-profit business with a physical location in Montgomery County, Pennsylvania that was in operation on or before March 23, 2020, has experienced disruption due to the COVID-19 global pandemic, and has reported gross revenues not greater than $10,000,000 on its last signed and filed federal tax return.
◦Employed no more than 30 employees (total of all full-time and part-time employees) as of March 23, 2020 and employs no more than 30 employees (total of all full-time and part-time employees) as of the application date.
◦Must identify in one of the following sectors by 2 digit NAICS Code -◦Retail Trade (44-45)
◦Accommodation and Food Services (72)
◦Health Care and Social Assistance (62)
◦Arts, Entertainments, and Recreation (71)
◦Wholesale Trade (42)
◦Transportation and Warehousing (48-49)
◦Other Services, except Public Administration (81)
◦Professional, Scientific, and Technical Services (54)
◦Businesses that received a Round 1 MontcoStrong Small Business Grant may not apply in Round 2.
◦Round 1 applicants that were not awarded funding must apply again for consideration in Round 2.
◦501c3, 501c4, and 501c6 entities are not eligible.
Applications will be accepted beginning at 10 a.m. on Wednesday, May 13, 2020 and the application window will close at approximately 6 p.m. on Wednesday, May 13, 2020.
To apply when the application window is open, complete the application form.
For questions about the program, please thoroughly review the Round 2 program guidelines and Round 2 FAQ at https://www.montcopa.org/3508/MontcoStrong-Small-Business-Grant-Progra. Email questions about Round 2 applications can be sent to MontcoStrongSBGP@montcopa.org beginning on Monday, May 11, 2020. Emails regarding status of an application cannot be answered due to the anticipated high volume of applications to be submitted.