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Small Business Resiliency Project

small business resiliency project

Click here to download your application! 

 

**PLEASE NOTE: If you are unable to collect all of the voluntary income surveys, please sign and return this document with your application. Click here**


Frequently asked questions and Answers

Davenport community has always been invested in growing and attracting small businesses, earning the number three spot on Livability’s Top 10 List of the most diversified metro economies in the U.S. We will defend that title against the COVID-19 pandemic.

The City of Davenport has launched the Small Business Resiliency Project to assist small businesses that have been negatively impacted by COVID-19.

The Small Business Resiliency Project will be using approximately $900,000 in Community Development Block Grant funds that was awarded under the CARES Act to provide financial relief in an effort to retain jobs and stabilize local businesses. 

Eligible businesses that can apply for funding are for-profit businesses that have been negatively impacted by COVID-19. The business can have up to an equivalent of 50 full time employees. Applicants must be open for business as of the application date and need to be an active business located in Davenport prior to March 16, 2019. Applicants must be in good standing with all local taxes, licenses, and permitting and cannot be recipients of reimbursement or funding from any other local, state, or federal relief programs for the same items the business is applying for reimbursement under the Resiliency Project.  

Eligible expenses covered under the Small Business Resiliency Project include mortgage or rent, utility costs, employee salaries or wages, and operational expenses such as inventory. 

The maximum forgivable loan is estimated to be $20,000 per business. At the time the funds are awarded, the business must meet the federal CDBG national objective of 51% or more of the workforce must be part of a low to moderate income household. 

Applications can be turned in beginning October 15, 2020. Applicants can email their application to ed@davenportiowa.com or mail to:

City of Davenport
Economic Development
226 W 4th St
Davenport, IA 52801