The Salina Area Chamber of Commerce Foundation, in partnership with Saline County, Kansas, is assisting small businesses seeking capital in response to the negative economic impacts of COVID-19 from the Strengthening People and Revitalizing Kansas (SPARK) Small Business Grant Fund.
The Salina Area Chamber of Commerce Foundation program offers grants of up to $25,000 to eligible small for-profit businesses. The amount of a grant is to reimburse for costs and loss of income due to the business interruption impact of Covid-19. The grant amount is calculated based on $2,500 per eligible employee. The total funds available under this grant program are $2,693,313.71.
There is no guarantee the maximum amount will be granted to a business. Grants will be awarded until funds have been depleted or through November 30, 2020 whichever occurs first.
Generally, these grant funds will be considered taxable. Business applying for grants should consult their tax advisors for more information. No supporting documentation is required at this time; however, a business may be subject to audit to determine the accuracy of the information within this application. If a business accepts this economic support, the business is required to maintain sufficient information and documentation for at least five years to allow the grantor to reasonably determine that such funds were used for COVID-19 business interruption costs incurred.
· The small business has $5,000,000 or less gross revenue as reported on its last calendar or fiscal year federal income tax return. The business must be able to demonstrate a loss of at least 25% of gross revenue from January 1, 2020 to June 30, 2020 over the previous period of January 1, 2019 to June 30, 2019. For simplicity purposes, the decrease in gross revenue percentage may be calculated by comparing gross revenue for the six-month period ending June 30, 2020 to one-half (50%) of the annual gross revenue for the prior year. For example, if the last annual gross revenue is $2,000,000, the small business would qualify if gross revenue for the six month period ending June 30, 2020 totaled $750,000 or less (one-half of the annual gross revenue in this example is $1,000,000).
· The small business is owned and operates with a total of 100 or fewer employees. An “eligible employee” means an employee who was employed on March 13, 2020 and June 30, 2020. The employee worked at least 350 hours during the six-month period ending June 30, 2020. The employee lives or works in Saline County, Kansas. A self-employed worker is considered an employee.
· In order to be fair and equitable with the distribution of limited funds, each business owner (regardless of the number of locations and/or businesses owned) is eligible for one $25,000 grant. Small businesses with common ownership such as controlled groups under Internal Revenue Code section 414(b) or (c) or related employers such as an affiliated service group under Internal Revenue Code section 414(m), are combined for the 100-employee threshold and gross receipts test. If an individual owns more than one business, only one of their businesses should submit an application.
· The small business applying for funds is required to be an existing for-profit business located in Saline County, Kansas and in good standing with the Kansas Secretary of State, if applicable.
· Not-for-profit entities are not eligible for this grant.
· The small business must have been in operations since January 1, 2019.
· The small business is open for business as of the date of the grant application.
· The grant proceeds can be used to pay working capital expenses such as payroll, insurance, rent, mortgage payments, utilities, inventory and more.
· Proceeds from this grant should not reimburse any expenses incurred by the business during the period January 1, 2020 through December 30, 2020 that are reimbursed under any federal or state program.
· Small businesses that have received more than $350,000 from other state or federal support dollars for Covid-19 related expenses are not eligible.
· The small business or its owners have no tax liability prior to 2020 in arrears with the Kansas Department of Revenue, the IRS, or Saline County Treasurer.
Small Business Grant Application Preview PDF | Timeline Salina Chamber Foundation Grants
If you answer NO to question 8, 9, or 10 or YES to questions 11, or 12, you will not be eligible for this funding opportunity and therefore should not submit an application.