The City of North Adams has engaged the Franklin County Community Development Corporation (FCCDC) to administer this new small business (forgivable) loan program in support of the continued operation or re-opening of small businesses that are dealing with the negative economic impacts of the COVID-19 pandemic. The goal of this program is to make funds available to small businesses disrupted by the COVID-19 pandemic until they are able to access the other programs and/or restore revenue streams and cash flow. Forgivable loans of up to $10,000 for business expenses such as working capital, rent, staffing, utilities, technical assistance, general support and stabilization of the business. This loan is forgivable after issued as long as the business provides documentation that the funds have been spent in line with the presented budget and the owner certifies that they have not received nor will they receive funds for these expenses from other funding programs.
PRIOR TO COMPLETING THIS APPLICATION
Please be sure that you have filled out the following as you will need the information from these forms to complete this application.
FAMILY INCOME WORKSHEET (for each owner over 20%)
COVID 19 LOSS:PROFIT AND LOSS WORKSHEET 2019/2020 comparison
PROPOSED USES OF FUNDS FORM
BUSINESS OWNER'S HOME ADDRESS
This section confirms that this business meets the minimum basic eligibility criteria of this program. If it does not meet these requirements, please contact the Micro@fccdc.org for information on other assistance programs.
The information regarding race, natural origin, sex designation, marital status, disability status and veteran status on this application is requested in order to assure the Federal Government, acting through the Department of Housing and Urban Development, that Federal Laws prohibiting discrimination against program applicants on the basis of race, color, national origin, religion, sex, familial status, age and disability are complied with. While you are not required to furnish this information, you are encouraged to do so.
Please complete this section for yourself (the other owners will be asked to complete a demographic form later)
NOTE that these funds MAY NOT BE USED FOR:
major equipment purchases purchase of real property, construction activities, business expansion, or lobbying.
SUBMIT "PROPOSED USES OF FUNDS FORM" TO COMPLETE APPLICATION
The Community Development Block Grant (CDBG) Program’s goal is to develop viable communities by providing decent housing and a suitable living environments, and by expanding economic opportunities, principally for persons with low- and moderate-incomes.
The CARES Act is specifically for adverse impacts due to COVID-19.
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