Invest Atlanta Resurgence Grant Fund Overview

Resurgence

Grant Fund Overview

Last Updated August 4, 2020 9:31 PM

 

The Atlanta Development Authority d/b/a Invest Atlanta is the economic development agent for the City of Atlanta. IA’s mission is to create equity and prosperity for all Atlantans. In the unprecedented emergency arising from the novel COVID-19 pandemic, Invest Atlanta seeks to facilitate grant opportunities for small businesses that have been adversely affected.  By targeting those small businesses that have been adversely affected by the economic impact of the COVID-19 pandemic and related declarations of emergency by federal, state, and city officials, IA seeks to lessen the negative financial impact.

PURPOSE OF GRANT

The purpose of the Resurgence Grant Fund (RGF) is to distribute federal grants to small businesses as a means of addressing the negative economic impact of the measures taken to control the novel COVID-19 virus in the U.S., Georgia and particularly in the City of Atlanta.

PROGRAM ELIGIBILITY

A business is eligible for a Resurgence Grant grant if it meets all of the following criteria:

  • Operates an active for-profit enterprise in the City of Atlanta;
  • Holds a 2020 City of Atlanta business license;
  • Continuously in business and operating since March 1, 2019;
  • Had fewer than 250 employees as of March 1, 2020; and
  • Documented business interruption as a result of the COVID-19 pandemic and related emergency declarations, resulting in financial loss.

 

PROGRAM INELIGIBILITY

The following businesses are ineligible for the Resurgence Grant Fund:

  • Businesses engaged in any illegal activity.
  • Corporate-owned franchises.
  • Life insurance companies.
  • Financial businesses primarily engaged in the business of lending, such as banks, finance companies, loan packagers, and factors.
  • Businesses located in a foreign country.
  • Government-owned entities.
  • Businesses owned or operated by officials or employees of the City of Atlanta or Invest Atlanta.
  • Pyramid sale distribution plans.
  • Non-profit organizations with no for-profit activities (for-profit subsidiaries are eligible).
  • Passive businesses owned by developers and landlords with no active ties to for-profit business activities at the location.
  • Businesses primarily engaged in political or lobbying activities.
  • Businesses principally engaged in teaching, instructing, counseling or indoctrinating religion or religious beliefs, whether in a religious or secular setting.
  • Speculative businesses.
  • Business owned or controlled by a person incarcerated in a correctional institution.
  • Businesses that derive any part of annual gross income (including rental income) from gambling activities, except where an otherwise eligible small business earns less than 1/3 of its annual gross income from the licensed sale of Georgia lottery tickets.
  • Private clubs and businesses which limit the number of memberships for reasons other than capacity.
  • Enterprises which constitute adult businesses as defined by City Code §16-29.001(3).
  • Unless waived by Invest Atlanta for good cause shown, businesses that have previously defaulted on a City of Atlanta or Invest Atlanta loan, grant, or other assisted financing.  For purposes of grant, a compromise or settlement agreement shall also be considered a disqualification.

TARGET GRANT AMOUNT

Eligible businesses may be awarded grants of up to $40,000, plus a credit of up to $10,000 of additional technical assistance,  to reimburse costs associated with adapting business operations in a post-COVID environment.

*Grant funds will be awarded on a reimbursement basis.  Grant funds will be disbursed based on the submission of receipts demonstrating payment for allowable expenses related to COVID-19 up to the maximum grant award.  These receipts must be for necessary expenditures incurred due to the public health emergency with respect to the COVID-19 pandemic between March 1, 2020, and December 30, 2020. 

USE OF PROCEEDS

Grant funds must be used to reimburse necessary expenditures incurred due to the COVID-19 public health emergency, including reimbursement for the costs of business interruptions as a result of required closures, response to emergency orders, requirements of social distancing, or changes in service to customers due to the COVID-19 pandemic. COVID-19 related reimbursable expenses may include:

  • Purchase or lease of machinery and equipment, or modifications to existing equipment required due to COVID-19 requirements.
  • Personal protective equipment and other goods necessary for business operation as a result of COVID-19
  • Sanitation and disinfection supplies and equipment
  • Costs incurred for professional disinfection of business and other facilities required as a result of COVID-19
  • Technology improvements to serve customers, protect employees, or provide services in response to COVID-19.
  • Other necessary expenditures associated with interruption in business operations as a result of COVID-19

Note:  Although a broad range of uses is allowed under CARES, revenue replacement is not a permissible use of CARES Act funds.

 

APPLICATION REQUIREMENTS

Applications will be reviewed at the end of the application period.

Incomplete applications will not be reviewed and will not be given consideration. An incomplete application is considered to be one that has not uploaded all requested documents or answered all required questions.

The following documents are needed to apply for the Resurgence Grant Fund:

  • Drivers License or other government-issued ID of the business owner (Redact Driver’s License Number and Date of Birth)
  • Payroll documentation for final February 2020 payroll (If your payroll is not prepared by a third party payroll service, you may use the payroll summary form. Self-prepared summary must be signed by the business owner.)
  • Reimbursable Itemized Receipts (Please make every attempt to scan and upload all receipts in one upload file.)
  • 2020 City of Atlanta Business License
  • 2020 Secretary of State Registration
  • 2019 Profit & Loss Statement
  • Year-to-Date April 30, 2020 Profit & Loss Statement
  • 2018 Business Tax Return (Tax Return must be signed by the business owner. Include only page one from Forms 1065, 1120 or 1120-S)
  • 2019 Business Tax Return (Tax Return must be signed by the business owner. Include only page one from Forms 1065, 1120 or 1120-S)
  • SAVE Affidavit (The SAVE Affidavit should be completed by the business owner.)

COMPLIANCE REQUIREMENTS

This is a grant and not a loan. However, the eligible businesses must:

  • Use best efforts to expand or retain current levels of employment
  • Within one year of receiving the grant funds, the Grantee will use his/her best efforts to complete at least fifteen (15) hours of community service with a 501(c)(3) organization of their choice, physically located within the City of Atlanta, to be evidenced by verification provided on the non-profit organization’s letterhead.
  • Within one year of receiving the funds, the eligible business will submit to Invest Atlanta a final close-out narrative and provide a response to the Annual Reporting Form.

Urban League of
Greater Atlanta

Our Sponsors

Make An Impact Today

Scroll to Top