Town of Yarmouth Offers CDBG Grant Program to Help Small Businesses
The Town of Yarmouth is offering a new round of funding to assist small businesses impacted by COVID-19. The program offers short-term working capital to cover expenses such as commercial rent and mortgage, payroll, and qualifying debt service when a business does not have the resources to cover these costs.
Grants are capped at $5,000 per qualified business. The Community Development Block Grant (CDBG) is funded by U.S. Department of Housing and Urban Development (US HUD).
To qualify businesses must:
be located in Yarmouth
have ten or fewer employees, including the business owner
demonstrate that the CDBG Funds are necessary and sufficient, when combined with othersources, to sustain the business and/or retain jobs held by low/moderate-income workers
have a business owner and/or employees which meet income requirements
complete and sign the application and submit with all requested documentation
execute a grant agreement
track and report on business performance in 3 and 6 months out from receipt of assistance
New! The Town CDBG Program intends to amend the CDBG PY2020 and the CDBG-CV PY2019 Annual Action Plans to increase the budget to acquire affordable housing and reduce the budget of some economic development activities in order to meet CDGB timeliness goals. Public comment on these amendments will be accepted through March 19, 2021. Click here to see the Legal Notice about amending the PY2020 and PY2019 Plans.