Applications for small business, nonprofit grants to open Friday | News

Apps for Norman’s extended-awaited business enterprise reduction application will be accepted involving Friday, Dec. 4, and Dec. 18, town paperwork present. 

Domestically owned businesses and nonprofit companies with no additional than 35 entire-time workers in Norman can apply. Grants up to $10,000 will be awarded based on requirements similar to the pandemic.

Candidates should display losses to the coronavirus pandemic and conduct enterprise “deemed legal in the point out of Oklahoma,” the guidelines point out.

The council allotted $1 million remaining in Coronavirus Help Reduction and Economic Restoration [CARES] Act money for the duration of its Tuesday night time meeting.

Ward 1 Kate Bierman mentioned the metropolis should really ensure purposes are authorised blindly and that the council be granted a weekly report on the number of apps processed and awarded.

“We have to make sure whoever is reviewing these programs does so blind,” Bierman said. “No applicant identify, company title for the reason that this is a smaller neighborhood and the prospects of several of these applicants remaining regarded to the folks doing the underwriting is reasonably large. We will have people implement who stroll away with nothing at all. We want to be positive that we are as open and transparent about this course of action and as reasonable and impartial, is definitely essential.”

Pyle claimed the apps can be scored with no realizing the company or owner identify.

Every firm design from sole proprietor and unbiased contractor to small business partnerships, nonprofits and businesses can use, the software shows.

Entities which have interaction in lending and political or lobbying things to do cannot qualify, in accordance to the rules. Apps from authorities entities, non-public faculties, and religious corporations also will not be regarded for approval.

An applicant must be in good standing legally, without any liens or judgments or individual bankruptcy proceedings prior to March 13, 2020. They will have to also be present on all metropolis permit costs, licensing and utilities, even so “grant proceeds will be used to convey the business enterprise present-day before the harmony of the proceeds will be unveiled,” the tips study.

Concerns on the applications include whether or not the corporation is minority-owned and if the enterprise is situated in in decreased-cash flow places.

Candidates will be asked if the organization or nonprofit was issue to capacity constraints, and calls for the applicant to divulge other sources of funding it attained for the duration of the pandemic, this kind of as CARES Act funds, point out grants and federal compact business financial loans.

The application inquiries the extent to which an business knowledgeable decline, from a revenue plunge of 26{633f08c73793f55612965c612e212a445c31ddab6c84ff3f095b66eb6ebb4cc2} to 50{633f08c73793f55612965c612e212a445c31ddab6c84ff3f095b66eb6ebb4cc2}, 51{633f08c73793f55612965c612e212a445c31ddab6c84ff3f095b66eb6ebb4cc2} to 75{633f08c73793f55612965c612e212a445c31ddab6c84ff3f095b66eb6ebb4cc2}, or a lot more than 75{633f08c73793f55612965c612e212a445c31ddab6c84ff3f095b66eb6ebb4cc2}.

People businesses that experienced losses during the Oct ice storm also will be asked to deliver the variety of times the corporation was devoid of energy.

Norman Chamber of Commerce CEO Scott Martin was pleased to see the program authorised.

“I want to applaud the council for their unanimous help for enterprises in Norman,” Martin reported. “I’m assured the require is terrific and that this to start with million bucks will not very last extended, regrettably. I believe that the programs will be quick and too much to handle that they receive, and I hope this is just the very first of what will be opportunity bucks they approve for tiny business aid.”

With the obtainable money, at minimum 100 enterprises could see relief, Ward 2 Joe Carter stated through the Nov. 17 meeting.

The council has mentioned locating other sources of income for the software, The Transcript formerly noted.

Apps can be mailed to 201 W. Grey, Norman, Oklahoma, 73069 or sent to the town manager’s business. Programs can be emailed to [email protected] Questions can be directed to the city’s marketing director, Sara Kaplan at 405-366-5257 or by e-mail: [email protected]

Mailed apps need to be postmarked Dec. 18.

By Mindy Ragan Wood

405-416-4420

[email protected]