Posted by Jonathan A. Patterson, CPA, CVA
The Delaware Division of Small Business just released three important changes related to the DE Relief Grants program.
- Businesses no longer need to demonstrate a revenue decline of at least 7.5 percent from 2019 to 2020. Instead, they will only need to prove they experienced a decrease in revenue, regardless of size. This change also applies to businesses that have already received a grant. (Note: Nonprofits are not required to demonstrate a revenue decrease.)
- Companies that meet the federal definition of a small business and received an SBA Payroll Protection Program loan of more than $1 million, are also now able to apply.
- Approved applicants in disproportionately impacted industries will be receiving a 15% bonus allocation to be used on any valid business expense from the date of the business’s acceptance of its grant award through the end of 2020. This applies to new applicants, as well as those awarded grants in Rounds 1 and 2. The Division will reach out directly to those already approved to provide an addendum to sign.
- Email your questions directly to DEReliefGrants@Delaware.gov OR
- Connect with a regional business manager at delbiz.com/contact
- The application portal can be found here: delbiz.com/relief
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