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1. How much money is available in the second round of the Lakeville Small Business Emergency Grant Program?

The Second Round Lakeville Small Business Emergency Grant Program is funded by CARES Act dollars and will award grant applications up to $400,000.

2. What amount can my business receive from that fund?

The grant application will be available on lakevillemn.gov from September 16-30, 2020. Eligible applications will be awarded grant funds based on a first-come, first-served basis.

3. How will funding decisions be made?

If applications exceed funding available, applicants will be selected by a first-come, first-served basis.

4. How will the grant program administrator communicate with me?

The majority of communication will take place via email. Applicants are encouraged to provide an accurate email address and check their junk folders regularly so as not to miss any grant-related communications.

5. When will I know if my business has been awarded a grant?

The Lakeville Community & Economic Development Department will notify approved applicants by email within 10 business days of the submittal of a complete application.

6. How quickly will I receive the grant funds once my application has been approved?

Within 10 days of signing the grant agreement (after all required documentation has been received and approved).

7. What does "permanent physical location in the Lakeville city boundaries" mean?

Eligible applicants must have a physical business location within Lakeville city boundaries. Those with Lakeville addresses located outside city boundaries are considered ineligible.

8. I have previously received COVID-related emergency small business grant funding from Lakeville, Dakota County and/or MN DEED. Should I apply?

Businesses may not receive CARES Act grant funds from more than one entity. Applicants to the Second Round Lakeville Small Business Emergency Grant Program must verify that no other CARES Act COVID-related emergency county or state funds have been received.

9. I have received federal emergency funding through either the PPP or EIDL, am I eligible to apply and receive Lakeville funds?

Yes, but Lakeville Small Business Emergency Grant Program funds must be used to cover different expenses over and above specific uses of those federal funds.

10. What documentation is required at time of application?

A completed application form with all questions answered. No additional documentation is required with the application form. If your application is selected and verified, additional documentation will be requested via email.

11. What documentation is required after the application, but prior to receiving a grant?

A checklist will be provided to applicants who have been deemed preliminarily eligible. Documentation submittals include business revenue from 2019 (or the business’ most recent fiscal year if different), e.g. tax return, financial statements, reports or any such records that can verify business revenue, and documentation of payroll and employee count, if any, as of March 1, 2020. A copy of a voided check/bank information will be needed to wire funds.

12. My business had between 1-50 FTE employees prior to the COVID crisis, but currently all employees have been laid off. Am I eligible to apply?

Yes. Eligibility is determined by the number of employees on March 1, 2020.

13. I am a sole proprietor. Do I qualify for the grant program?

Yes, as long as you have no more than 50 FTE employees and meet all other eligibility requirements.

14. How will my credit score affect my application?

Credit score will not affect your eligibility or selection for funding.

15. I need help filling out this application or I have a general question about the application process. Who should I contact?

Contact Kati Bachmayer, Economic Development Coordinator at kbachmayer@lakevillemn.gov or 952-985-4425.