The city of Bainbridge Island is offering a small-business grant program in response to the COVID-19 pandemic.
The city has committed up to $200,000 for small businesses, cooperatives and nonprofits in this program. Businesses may receive $5,000 to $10,000 based upon their COVID financial impacts and the number of qualifying applications.
Kitsap Economic Development Alliance is partering with the city on the program. It is offering a grant review webinar March 10 from 2-3 p.m. Sign up at kitsapeda.me/bainbridgeSB.
The grant application portal opens March 12 at 8 a.m. and closes March 28 at 11:59 p.m. Go to kitsapeda.me/ApplyCOBI.
Priority will be given to industries most negatively affected by the pandemic, such as hospitality, tourism, fitness and small retail. Funds will help businesses, cooperatives and nonprofits remain in operation and mitigate negative financial impacts from the coronavirus. Funds may be used to reimburse for expenses incurred since March 1, 2020 or for expenses that will be incurred in 2021.
Applicants are not required to submit receipts, but will be required to provide a detailed explanation of: how business/organization has been impacted by the pandemic, how funds will be used to help the business or nonprofit and businesses will be required to maintain records and receipts of expenses claimed under this grant for six years.
To qualify, you must have an active business license and a physical location in COBI, have no more than 50 full-time employees and annual revenues of $5 million or less, and more.
For a sample application, program overview and details go to www.kitsapcaressmallbiz.comm/bainbridge. If you have questions email Kathy Cocus at cocus@kitsapeda.org.