THE CITY OF BEACON MICROENTERPRISE STABILIZATION GRANT PROGRAM

About the Program

The City of Beacon is committed to providing the resources and support to our small businesses that are the backbone of the City’s success and economic vitality. The well-being of the City’s economy depends on the success of these businesses and the City supporting them during these uncertain times. As part of our continued commitment to assisting these businesses, the City is partnering with Community Capital of New York to offer Microenterprise Stabilization Grants.

Eligible businesses must meet the following standards and requirements

Eligible businesses must meet one of the following three requirements:

  • Retain, rehire, or create at least one full-time position for a person whose full-time annual salary is less than $54,950. For retention, the position must be at imminent risk of job loss without the funding
    or
  • The business owner’s household income (including all adults at their home address) is below the income limits below; or
  • The business is located within a Low- and Moderate-Income Area (LMA - see the green shaded areas on the map) AND primarily serves local residents;

click the map to view it in a lightbox on your screen

In addition, businesses must meet the following qualifications:

  • Businesses must be located in the City of Beacon
  • 5 or fewer employees, including the owner
  • For-profit business (non-profits are ineligible)
  • Operate outside of a residential property
  • Must document that funds are not duplicating other financial assistance provided via the CARES Act
  • The business may be asked to produce payroll records, proof of Workmen’s Compensation or other documentation to verify number of employees.
  • Businesses must be able to document that they have had a 25% reduction in revenue due to COVID-19.

Grant Terms

  • Grants up to $10,000

To Apply

  • Complete the application online
  • Ensure anyone with a 20% stake in the business completes the appropriate section of the application
  • Follow instructions carefully about submitting the requested supporting documentation

Businesses That Are Excluded

  • Home based businesses
  • Franchise or chain businesses
  • Adult bookstores, adult video or adult entertainment
  • Check cashing
  • Gambling
  • Gun shops
  • Non-therapeutic massage
  • Pawn shop
  • Tanning salons

Required Documents

  • EIN Verification Letter (PDF or Image)
  • Business organizational documents including dba if applicable
  • Most recent Business Tax Return (if 2018 Tax Return is provided, a 2019 Profit and Loss statement will be required
  • Most recent personal tax return for all owners who have more than a 20% ownership stake
  • Driver License
  • Payroll, records, Workman’s Compensation Insurance Audit showing Payroll Records, proof of Workmen’s Compensation or other documentation to verify the number of employees
  • Voided Check

The Process & When You Can Expect to Hear From Us

  • Grant requirements are subject to change and allocated funds may be depleted so it is in the interest of the business to submit documents promptly once they have been requested.
  • If we confirm you meet the minimum requirements , we may request supporting documentation to confirm that your business meets all of the program requirements.
  • After we review these documents, if we find that your business does not qualify for the grant, we will email you a decline letter.
  • If we find that you meet all the program requirements and qualify for the grant, we will send you the closing documents for your review and schedule the closing.
  • After you receive your grant funds you will be required to submit receipts, payroll records or other documentation as to how the funds were used.
  • If you have any questions, email us at dutchessexpress@communitycapitalny.org

Thank you for your patience as we work hard to support the small businesses of the City of Beacon.

Please complete the application form below and we will be in contact with you soon.

Questions?  Please contact our Lending Team at dutchessexpress@communitycapitalny.org with questions or immediate needs.

Please be sure to complete all sections of the grant application form below and we will be in touch with you soon.

The City of Beacon Emergency Grant Application