Sparta Area Chamber of Commerce Newsletter May 2020 Issue | Page 12

12 - The Sparta Ambassador - May 2020 Sparta Area Chamber of Commerce 2020 Business Opportunity Grant Purpose: The Sparta Area Chamber of Commerce 2020 Business Opportunity Grant was created to support our member small businesses in their recovery from the impact of COVID19 restrictions and closures. Grant funds are intended to fund one time projects, initiatives or strategies that will help a business jumpstart their re- entry into the retail market as restrictions are reduced or ended. The maximum grant award will be $1000. The Chamber may decide to award amounts less than requested by an applicant based on the merits of the proposal and the amount of funding available. Funding for the grant program comes from a generous contribution from Citizens First Bank, the Sparta Area Chamber of Commerce, and the Sparta Small Business Cooperative. Applications must be received by the Sparta Area Chamber of Commerce before 12:00 pm on Friday, May 8, 2020. Applications may be submitted via email ([email protected]), U.S. Mail postmarked no later than Friday, May 8, or hand delivered to the Chamber Office at 111 Milwaukee Street by appointment (608 269- 4123) prior to the deadline. Grants will be awarded based on the following criteria: I. Thoroughness of the proposal. The proposal must include a clear explanation of how the funds would be used and how this proposal would incentivize increased customer interest and activity that will benefit the business (10 points). The proposal must also include a budget that accounts for use of all grant dollars requested (10 points). The proposal should also include a timeline for use of the funding (5 points). II. Potential benefit. The potential for the funds to generate additional revenue for the business beyond the grant amount awarded. As an example, would using the grant funds to provide a $200 gift basket giveaway have the potential to generate more than $200 in store profit? (10 points) III. Community impact. The potential for the benefits of the proposal /plan to incorporate and help other small businesses in Sparta in their efforts to recover (5 points). IV. Establishing public confidence. The proposal should describe practices and efforts to increase public confidence in the safety of engaging in commerce at their business (5 points). All applications received by the deadline will be reviewed and evaluations will be shared with the applicant. Awards will be announced by noon on Friday May 15, 2020, and funds will be distributed by May 22, 2020. Grant recipients will be expected to file a report regarding use of the funds to the Chamber by July 1, 2020, including documentation of expenditures.