$6 Million Bucks Back To Work Grant Applications Will Roll Out This Week

Applications for the Bucks Back To Work Small Business Grant will open this week.

During a Monday virtual town hall and in documentation, the Bucks County Commissioners revealed more details on the $6 million program that is funded by a portion of $109 million in federal COVID-19 funds awarded to the county.

The grants are for up to $25,000 or 25 percent of annual operating expenses, whichever is lower. Businesses with less than $700,000 annual gross revenue and less than 50 can apply, officials said.

Applications will go live for the public this week.

The completed applications will only be accepted Tuesday, May 26 from 5 a.m. to 9 p.m.

LevittownNow.com first reported on the planned grant program and a task force to assist small businesses last week.

Harvie said last week and again Monday that there could be additional rounds of grants.

Below is an overview of the program put out by the county:

Application Process

• Applications will only be accepted on Tuesday, May 26 between 5:00 a.m. and 9:00 p.m.
• We recommend submitting applications digitally, but paper applications will also be accepted during the submission window at the Administration Building, 55 East Court Street, Doylestown, PA 18901, at the Court Street entrance from 10:00 a.m. until 4:00 p.m. Applications will not be received via regular or express mail.
• The Application will be made available on the County’s website through its COVID-19 portal and must be completed in its entirety to be considered for award. Details of digital submission will be on the application.
• There is no application fee.
• Applications will be reviewed by third party reviewers using objective scoring criteria to recommend which grants are funded.
  • The review process will take into consideration the following factors:
    • Negative impacts from COVID-19, including declines in income and cash reserves.
    • Total number of full-time and/or part-time employees that will be impacted by the grant award.
    • Businesses that have applied and accepted/received, or are still waiting to receive, COVID-related grants or loans (i.e., Paycheck Protection Program (PPP), Economic Injury Disaster Loan (EIDL), PA COVID-19 Working Capital Access (CWCA), or PA Unemployment Assistance (PUA).
    • Businesses that demonstrate the ability to remain viable upon re-opening.
•  The County anticipates processing applications and awarding grants within 10 business days of the application window closing. Applications are NOT first come, first serve.
• Due to anticipated demand, not all applications will be funded.

Eligibility Requirements

• Applicants must be for-profit businesses with less than $700,000 annual gross revenue.
• Businesses primary operations and headquarters must physically be located in Bucks County regardless of owner’s residence or location of business incorporation. If there are locations outside of Bucks County, a business can still apply if a majority of revenue is from Bucks County locations.
• Passive businesses such as commercial or residential landlords, non-profits, and franchises are ineligible.
• Sole proprietorships are eligible and encouraged to apply.
• Applicants must have less than 50 employees to be considered.
• Applicant businesses must have been formed and in operation no later than 2018.
• Businesses that have been cited by any government agency for violating municipal, county, state, or federal codes, laws, etc. in the past two years are ineligible.
• Businesses that have applied and accepted/received, or are still waiting to receive, COVID-related grants or the best installment loans available (i.e., PPP, EIDL, CWCA, PUA), are still eligible to apply.

How can the funds can be used?

• Funds can be used to cover working capital costs necessary to maintaining a business during the COVID-19
  disruption. The County will require applicants to outline what the award will be used for. Examples of usage
  include:
  • Payroll
  • Rent
  • Mortgage
  • Supplies
  • Other operating expenses

What documents should I start to gather?

To prepare for the application release, interested applicants should begin to gather the following documents:

• Historic income and expenses information submitted through one of the following methods (this information is to be submitted for all businesses in which you own at least 20%):
  • A full and complete copy of the 2018 AND 2019 business tax return (if completed). If the 2019 tax return is not completed, applicants will need to submit an internally prepared statement of profit and loss for fiscal 2019.
  • For businesses that report on Schedule C or Schedule F of the owner’s personal tax return, a full and complete copy of the owner’s 2019 AND 2018 federal tax return. If the 2019 tax return is not completed, applicants will need to submit an internally prepared statement of profit and loss for fiscal 2019.
  • 2020 Year-to-Date Financial Statements (Profit & Loss through 04/30/2020 or month to date 05/20/2020 if available, and most recently prepared Balance Sheet)
• Bank Statements to demonstrate cash on hand as of 12/31/2019 and May 2020 statement (or screenshot of current balance).
• Full and complete copies of personal 2019 federal tax return for all owners of 20% or more of the Business. If 2019 return is not completed, applicants will need to submit 2018 return.
• Disclose any current outstanding loans or lines of credit for the business.
• Information to prove the significant negative impacts from COVID-19 requirements, including declines in sales, income and cash reserves.
• Provide additional information on a business plan to remain open and viable.

Questions?

Email questions to dmgiorno@buckscounty.org. Please include contact information in your question.