OGDEN, UT – Ogden City is pleased to announce it is launching the Coronavirus Relief Fund (CRF) Business Grant Program. This new program will provide grants to support businesses impacted by COVID-19 (coronavirus). The program is funded by the federal CRF, which was established by the CARES Act.
Grants are intended to help businesses with unmet financial needs due to the impacts of COVID-19. Grant funds will help to cover the shortfall between necessary business expenses and existing funding sources (e.g., business revenue, federal or state assistance). As an example, if a business incurred $40,000 in necessary business expenses from March through June 2020 and, if during this same period, earned only $12,000 in revenue and received $20,000 through COVID-19 financial assistance (such as the Paycheck Protection Program), the cashflow shortfall would be $8,000. The business would be eligible for a CRF grant to cover the $8,000 shortfall.
Additionally, businesses located in the Central Business District making physical modifications to accommodate physical distancing requirements can use CRF grant funds to cover the cost of these modifications.
There are four general categories of businesses eligible for a CRF grant, with a maximum grant amount for each category:
- Group One: Locally owned companies or companies with distinct profit-and-loss accountability at the local level; the maximum amount is $200,000.
- Group Two: Any company, regardless of ownership, with employees located in Ogden. Companies do not have localized profit-and-loss accountability, and accounting rolls up to a parent corporation; the maximum amount is $100,000.
- Group Three: Sole proprietorships in Ogden; the maximum amount is $50,000.
- Group Four: Retail businesses (including shops, restaurants, bars, etc.) located in the Central Business District making physical modifications to their business to accommodate physical distancing; the maximum amount is $50,000.
Grant applications will be accepted on a rolling basis and will be reviewed monthly until funds are exhausted. Applicants must have an Ogden City business license to be eligible for a grant.
Additional information on the application process and evaluation criteria will be published by July 1, 2020. Ogden City will also publish the grant application form and begin accepting applications by July 1, 2020.
Additional information and grant applications will be published on the Ogden Business website. For questions, please e-mail Ogden Business.