State ARPA funds new small business grant

Missouri’s Department of Economic Development presented the final guidelines for application of a small business grant program during a recent webinar’s town hall training.

The funding for the grant, which begins to accept applications beginning at 10 am, Wednesday, November 16 is derived from America Recovery Plan Act (ARPA). The program will provide assistance to small businesses through reimbursement of the response to the negative economic impacts experienced from the COVID-19 pandemic in 2019.

Key details of the small business grant include:

● Award amount up to $25,000.

● Based on decreased revenue in 2021 compared to 2019.

● Applications will be handled on a first-come, first-serve basis.

The eligible criteria for the applications are:

● For-profit Missouri-based businesses.

● Employ 50 or fewer full-time employees.

● In operation in Missouri since before January 1, 2020 and currently operating.

● Registered and in “good standing” with Missouri Secretary of State.

Applicants who meet the following additional requirements will be eligible for the funds set aside for minority- or women-owned small businesses.

• Applicant must self-attest that it is at least 51 percent owned and controlled by one or more minority persons or women. Businesses are not required to be certified by any government entity to be eligible, but if a business is so certified, it may submit proof of certification instead of a self-attestation.

The state department of economic development has a simple look at how COVID-19 negatively affected the applicant’s business.

Eligible applicants are qualified to receive program funds by submitting documentation of declining revenues or gross receipts of at least $2,500. This proof of declining revenues or gross receipts is to be demonstrated through the submission of tax filings showing a decrease in gross revenue/receipts in 2021 as compared to gross revenue/receipts in 2019.

Applicants will be required to submit documentation to the MO DED ARPA Application Portal demonstrating eligibility.

In preparation for applying, applicants are encouraged to ensure they have the following information ready and available, and in many instances these documents will need to be uploaded during the application process. Having this prepared in advance of applying will help assure a timely application process, as well as assist applicants in ensuring a complete and accurate application is submitted. Documents include:

• Tax filings for 2019 and 2021.

• A narrative statement of 300 words or less explaining how Applicant’s decrease in revenue or receipts was related to the COVID-19 pandemic.

• Federal Employer Identification Number.

• Missouri Tax ID Number.

• Six-digit North American Industry Classification System Code (NAICS)

• Submit a copy of most recently filed employer withholding form 941 or quarterly state unemployment (SUTA) form showing number of employees.

• Submit a link to the business’ listing on the Secretary of State’s Business Portal webpage, at bsd.sos.mo.gov, using the business search function. There is no account needed to use the business search.

• Entities must be registered with E-Verify to receive ARPA funding. Applicants will need a copy of the electronically signed memorandum of understanding between the applicant’s entity and the US Department of Homeland Security, to register for E-Verify, visit e-verify.uscis.gov/enroll.

• Applicants will need to download, print, and obtain a notarized signature on the Beneficiary Agreement.

• Applicants must enter full legal name and date of birth for all of the following: all directors, officers, executives, other members of the management team directly responsible for the operations of business or privately-held companies, any individuals with at least a 10 percent ownership interest.