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o Good standing with MN Revenue, Sec. of State, and city as of 3.1.20. <br /> o Demonstrate adverse affected by Exec. Orders related to Covid-19 business <br /> restrictions. <br /> o Demonstrate financial hardship as a result of Covid-19. <br /> o Includes home-based businesses and franchises. <br /> o May apply if receiving or applying for other federal funding. <br /> o Burnsville gave $50,000 each to 3 nonprofit community development groups <br /> as well. <br /> • Exclusions <br /> o Businesses with passive investments without ties to operating business; speculative <br /> businesses. <br /> o Those that have received state or county CARES small business funding. <br /> o National or corporate chains. <br /> o Businesses in default prior to 2.29.20. <br /> o Permanently shuttered or closed businesses where funding would not make them <br /> operational within 21 days. <br /> • Aid <br /> o $ 1 million allocated for program. <br /> o Up to $20,000 per business. <br /> • Restrictions <br /> o Funds cannot be used for lost revenues. <br /> o Funds used for operating expenses, including payroll, lease/mortgage, supplier <br /> payments, or other critical business expenses including consulting to modify <br /> business practices. <br /> • Process <br /> 0 10-day application window, not first-come, first-serve basis <br /> o If eligible and approved, applicants must submit 2019 tax return and evidence of <br /> revenue loss related to Covid-19. Suggestions are sales tax reporting, period <br /> statements, merchant services statements, and point of sale register reports. This <br /> must be done within 10 days after selection. Also evidence of employment prior <br /> to 3.1.20. <br /> • Application <br /> o https://burnsvillecares.burnsvillemn.g v/ <br /> o Online application asks for W-9, most recent year tax return, cash flow statements <br /> and itemized expense report for March—June 2020. <br /> o Landlord on leased premises that business was current on rent as of 3.16.2020. <br /> o Proof of eligible expenses from 3.15 to 11.15—payroll documentation, mortgage/rent <br /> statements, insurance statements, other invoices. <br /> o Acknowledgement Form—holds city and its consultants harmless from any and all <br /> claims arising from CARES Act funds, data is public. <br /> o Grant funds only used for eligible expenses. <br /> • Enforcement <br />