Small Business Relief Grant
All eligible businesses submitting a complete and timely application will have a chance to receive a grant of up to $10,000 until all funds are exhausted. A total of $300,000 of funding is available for Round 2 of the Lynnwood Small Business Relief Grant Program. Funds may be used for existing operating expenses, including business rent or mortgage, payroll, utilities, inventory, marketing, and improvements to meet social distancing requirements. Documentation of expenses will be required to be submitted if a grant is awarded, and eligible expenses must be incurred within the time period of March 1, 2020 to October 31, 2020.
Funding is limited. All applicants may not receive a grant, and some applicants may receive a grant in an amount less than $10,000. Grant funds may be taxable. Please consult with your financial advisor for guidance. Grant recipients will be required to enter into a Grant Agreement with the City which will require the filing of a report on how the funds were spent. Grant recipients must also submit a W-9 .
In order to be eligible for the City of Lynnwood Small Business Relief Grant, the following eligibility requirements must be met:
- For profit businesses with a physical (brick and mortar) location in the City of Lynnwood
- Been in operation and licensed within the City of Lynnwood since May 31, 2019
- Have a current City of Lynnwood Business License
- 10 or less full-time employees, including the owner
- Ability to demonstrate at least a 25% decrease in revenues due to COVID-19
- Businesses who did not receive a Lynnwood Small Business Relief Grant in Round 1*
*Businesses who applied for, but did not receive a Lynnwood Small Business Grant in Round 1 are encouraged to reapply. Applications from Round 1 will not automatically be resubmitted for Round 2. To reapply for Round 2, you may:
- Resubmit your previous application. Send an email to Christy Murray at email@example.com to request that your Round 1 application be resubmitted for Round 2.
- Submit a new application. You may request a copy of your Round 1 application if you would like to review your information by contacting Christy Murray at firstname.lastname@example.org.
- Retaining and/or supporting employees, payroll and benefits
- Business rent or mortgage payments
- Increasing technology capacity to enable alternative work forms or service delivery
- Creating new marketing campaigns
- Revising business plans
- Paying vendor invoices, utility bills or purchasing inventory and supplies
- Facility cleaning/restoration
- COVID-19 related expenses including PPE or improvements to meet safety and social distancing requirements
Prepare to Apply
- Confirm your eligibility (see eligible businesses above)
- Prepare a recovery plan. You will be asked to provide a brief description (maximum 500 characters) of your recovery plan, including strategies to help your business recover and how you will implement them, changes to your business model to meet current customer needs and recommended safety precautions, and marketing and outreach plans.
- Prepare a list of eligible expenses and how funds from a $10,000 grant will be used, if awarded.
- Locate a copy of your City of Lynnwood Business License. You will be asked to upload a digital copy of your City of Lynnwood Business License with your application. Need a copy? You can access a copy through the WA State Department of Revenue Business License Service or request one by emailing businesslicense@LynnwoodWA.gov
- Prepare documentation to demonstrate at least a 25% decrease in revenues due to COVID-19. Documentation can include profit and loss statements or revenue reports and must include a comparison of 2019 to 2020 to show a decrease in revenues.
This application and any supporting documentation is considered a public record and may be subject to public disclosure under Washington’s Public Records Act, chapter 42.56 RCW.
The application period has closed. Applications received by the deadline will be given equal consideration. It is our goal to notify grant recipients by October 13, 2020. Businesses selected to receive grant funding will be contacted by email.
Questions? Contact Christy Murray at cmurray@LynnwoodWA.gov