City of El Monte Offers Short-Term Relief for Small Businesses

The+City+of+El+Monte+introduced+the+El+Monte+Business+Grant+Program+on+April+24%2C+2020+to+provide+short-term+relief+for+small+businesses.+

Brayan Altamirano/EPM

The City of El Monte introduced the El Monte Business Grant Program on April 24, 2020 to provide short-term relief for small businesses.

The city of El Monte developed a short-term relief fund for small employers called The El Monte Business Grant Program. Councilman Jerry Velasco introduced the grant program on Sunday April 24. Eligible businesses would receive a $10,000 stimulus. Online applications opened Monday April 27 at 9 am on a first-come first-served basis. Although the city has currently stopped taking applications, they are currently working on new ways to provide more relief funds through the grant program. Applications are still open on the city’s website for small businesses to apply in case of replenishment.

There are many programs currently offered nationwide to help businesses. The city wanted to ensure that small businesses are being taken care of during this time of crisis. Velasco refers to El Monte’s small businesses as the “backbone of the city” and stresses the importance of taking care of our “family.”

Eligibility for Relief Program

The grant program will be carried out in two phases. Phase I of the program consists of the city utilizing “existing CDBG funds in the amount of $228,103.” Phase II will utilize CDBG-CV funds in the amount of $200,000. There are eligibility factors that small businesses must take into account before applying. Businesses must meet the Low Mod Area Benefit (LMA) or the Low Mod Job Creation and Retention (LMJ) national objective. The relief program is designed for businesses with up to twenty employees. Businesses must have been open for at least one year. The program also requires businesses to fall within the LMI identified Census Block Group. Applicants must contain a business licence and be physically located within city limits. Businesses must also register for a DUNS number.

Eligible Use of Funds

Funds may be used for the following: overhead expenses, rent and utilities, labor expenses, business inventory and supplies, equipment purchases. Grants may also go towards business services “to increase capacity to carryout business activities.” Businesses must document all purchases with description and cost that will be funded by the grant. Eligible businesses will also need to agree to participate in “ongoing Federally required monitoring.” The city may require businesses to periodically submit documents regarding information of purchases.

Small businesses should check the Business Resource Center on the city’s website as frequently as possible. The city is constantly working towards creating new initiatives in order to help in this time of need.

Head over to monte.campaignrep.org for more information.

 

 

  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •