Eligibility Requirements

To qualify, you must be a bona fide business entity at the time of shut-down in the State of Vermont and defined as a sole proprietor.

 

Sole Proprietor is defined as someone who owns an unincorporated business by himself or herself, or as a Partnership or alternative business structure, and does not have W-2 employees regardless of how they are set up for tax purposes.  For example, S Corps and Partnerships (such as a 2 person team) that do not have W-2 employees would be eligible. The owner(s) of the enterprise must be a Vermont resident.  

Businesses must meet all of the following eligibility criteria:  

  1. Be from a Low to Moderate Income household per federal guidelines, which is defined as having a household income of 80% or below the area median income for your county  

  2. Be a Sole Proprietor that does not issue W-2s to any employees

  3. Be a for-profit entity, providing goods or services to clients

  4. The owner(s) of the enterprise must be a Vermont resident 

  5. Have a physical establishment in Vermont

  6. Be in good standing with the State of Vermont and Federal Government on State / Federal Income Taxes  

    • Be current on State and Federal taxes due through December 31, 2020 or have a workout arrangement in place with the taxing entity.

    • Active and valid state licenses/registrations, if applicable

    • Not a party to litigation on Federal or State taxes due involving the IRS or State of Vermont

  7. Demonstrate annual gross revenues greater than $24,450 ($11.75 X 2080 hours = $24,440) the business that will receive this grant (this is based on the State of Vermont Federal Minimum Hourly Wage as of January 2021) 

  8. Be able to document past or expected eligible expenses of no more than ten (10) items totaling the amount of the grant award, no less than $100 / each

  9. Be able to show that paying these expenses is a hardship due to loss of income between March 1, 2020 and March 31, 2021 because of COVID-19  

  10. Have been legally established prior to or as of March 15, 2020

  11. Not be listed under the excluded business types (see below), and not be a subsidiary enterprise or franchise

 

Excluded Business Types

The following business types are excluded from participating in this program:

  • cannabis-related businesses, if federally prohibited

  • businesses owned by persons under age 18

  • businesses that are franchises or chains

  • lobbyists

  • persons operating as independent consultants/contractors and providing services to a single entity

Before applying, make sure you are eligible and you have ALL of the following materials:

  • DUNS Number - if you don't have a DUNS Number, please request one immediately (visit the Help Center for a "How To" Video). If you are waiting on your DUNS Number, you can leave a placeholder in the application and update it upon receipt.

  • 2018, 2019, and 2020 Federal Income Taxes as filed (State of Vermont Taxes are not required)

  • Documentation in PDF form proving the receipt of any other grant/loan monies for COVID-19 relief or received under CARES Act Funding

  • Proof of Residency

  • Invoices and proof of payment for business expenses you want reimbursed by this grant program