Eligibility Requirements

  • Current and valid City of Colfax business license
  • Physical location within City of Colfax limits and primary business conducted in the City
  • In business on or before March 1, 2020
  • 50 or fewer full-time equivalent (FTE) employees as ofMarch 1, 2020, excluding independent contractors
  • Experienced economic injury or hardship due to California’s COVID-19 regional stay-at-home order or Blueprint for a Safer Economy
  • Annual Gross Revenue for 2019 must have been between $15,000 and $2,000,000 (greater than or equal to $15,000 and less than or equal to $2,000,000)
    • Annual Gross Revenue is also known as Gross Receipts or Sales. This is your total revenue before expenses. This is notyour income or net profit.
    • If you are a sole proprietor, your Annual Gross Revenue for 2019 should be listed on line 1 of the Schedule C you normally file to report your business income for federal tax purposes.
    • If your business was established on or after January 1, 2020 and before March 1, 2020, your projected Gross Revenue for 2020 must be within the designated range.
  • For-profit business that is operating legally
  • Viable and intending to continue operations following the COVID-19 pandemic.
  • The expenditures for which you are applying for grant assistance must be eligible as defined by S. Treasury guidelinesand may not have been submitted for any other grant or loan program, including Placer Shares, Colfax CARES, Economic Injury Disaster Loans (EIDL), or Paycheck Protection Program (PPP). If funds from another grant or loan program do not cover all of a qualified expenditure, then you are eligible to receive additional funds for that expenditure.
  • Businesses that were awarded a City of Colfax Small Business Grant for the application period that closed January 8, 2021 are NOT eligible for this round of funding.
  • Your business is NOT eligible if it is on the exclusion list of the US Small Business Administration 7A program and/or is one of the following types of ineligible businesses:
    1. Real estate agents and independent brokers
    2. Independent vacation home businesses such as Airbnb or VRBO
    3. Cannabis growers or related businesses
    4. Financial businesses primarily engaged in the business of lending, such as banks, finance companies, and factors (pawn shops, although engaged in lending, may qualify in some circumstances)
    5. Passive businesses owned by developers and landlords that do not actively use or occupy the assets acquired or improved with the loan proceeds (except Eligible Passive Companies under § 120.111)
    6. Life insurance companies
    7. Businesses located in a foreign country (businesses in the U.S. owned by aliens may qualify)
    8. Pyramid sale distribution plans and multi-level marketing businesses
    9. Businesses deriving more than one-third of gross annual revenue from legal gambling activities
    10. Businesses engaged in any illegal activity
    11. Private clubs and businesses which limit the number of memberships for reasons other than capacity
    12. Government-owned entities (except for businesses owned or controlled by a Native American tribe)
    13. Businesses principally engaged in teaching, instructing, counseling or indoctrinating religion or religious beliefs, whether in a religious or secular setting
    14. Loan packagers earning more than one third of their gross annual revenue from packaging SBA loans
    15. Businesses with a Principal who is incarcerated, on probation, on parole, or has ever been charged or convicted for a felony criminal offense
    16. Businesses in which the Lender or CDC, or any of its Associates owns an equity interest
    17. Businesses presenting live performances of a prurient sexual nature
    18. Businesses deriving directly or indirectly more than de minimis gross revenue through the sale of products or services, or the presentation of any depictions or displays, of a prurient sexual nature
    19. Unless waived by SBA for good cause, businesses that have previously defaulted on a Federal loan or Federally assisted financing, resulting in the Federal government or any of its agencies or Departments sustaining a loss in any of its programs, and businesses owned or controlled by an applicant or any of its Associates which previously owned, operated, or controlled a business which defaulted on a Federal loan (or guaranteed a loan which was defaulted) and caused the Federal government or any of its agencies or Departments to sustain a loss in any of its programs. For purposes of this section, a compromise agreement shall also be considered a loss
    20. Businesses primarily engaged in political or lobbying activities
    21. Speculative businesses (such as oil wildcatting)

 

NON-PROFIT ELIGIBILITY REQUIREMENTS:

  • Primary operations conducted within the City of Colfax limits
  • Operating on or before March 1, 2020
  • Experienced economic injury or hardship due to California’s COVID-19 regional stay-at-home order or Blueprint for a Safer Economy OR serving populations that have experienced economic injury or hardship due to California’s COVID-19 regional stay-at-home order or Blueprint for a Safer Economy
  • Not-for-profit organization that is operating legally
  • Viable and intending to continue operations following the COVID-19 pandemic.
  • The expenditures for which you are applying for grant assistance must be eligible as defined by S. Treasury guidelinesand may not have been submitted for any other grant or loan program, including Placer Shares, Colfax CARES, Economic Injury Disaster Loans (EIDL), or Paycheck Protection Program (PPP). If funds from another grant or loan program do not cover all of a qualified expenditure, then you are eligible to receive additional funds for that expenditure.