Impact Assistance Program

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Who is eligible for Impact Assistance?

The purpose of this assistance is to mitigate, as much as possible, adverse impacts that small businesses might be experiencing due to County-initiated development, re-development or revitalization projects.

It is available to any small business based and operating in Montgomery County. The business must have gross revenues of less than $5,000,000 annually, and have fewer than 75 employees.

Only County projects currently in progress and businesses currently impacted will be eligible under this Program. Flexibility regarding these criteria will be determined on a case-by-case basis.

In what form is assistance provided?

Impact assistance may be available to eligible businesses in the form of a conditional grant or a loan.

The appropriate form and level of assistance provided will be determined by the:

• recipient's intended use of funds
• degree of adverse impact resulting from the County's projects (both actual and projected), and
• financial health of the business

To ensure the broadest possible impact of Impact Assistance funds, qualified applicants will also be reviewed to determine eligibility for any other County, State, or Federal assistance programs that might be available.

How much assistance is given?

The maximum amount that can be granted or loaned to a business is $20,000. On a case-by-case basis, this maximum may be exceeded, but only if special circumstances warrant increased funding.

The Program will remain in effect until available funds are depleted.

How do I apply?

Contact us for more detailed Program information and application materials.

Documentation

All businesses wishing to be considered for this Program must provide documentation, including financial statements, supporting the adverse impact suffered by the business because of a County-initiated project. Financial statements should include Balance Sheets and Income Statements. Supporting documentation must present factual (versus anecdotal) evidence that the business has been negatively impacted.

Selection and award

Applications will be accepted, qualified and processed on a first-come, first-served basis. The main criterion used for award qualification and calculation shall be decreased revenues that can be primarily attributed to a County development, re-developent or revitalization project.