Seneca Falls Microenterprise Assistance Program
Entrepreneurs New Businesses Existing Businesses
Grant HIGHLIGHTS
A Microenterprise Informational meeting will be held THURSDAY, SEPTEMBER 24th at 6pm at the Seneca Falls Community & Recreation Center (35 Water Street).
The Town of Seneca Falls, in conjunction with the Seneca Falls Development Corporation, is pursuing a grant to help boost small business in Seneca Falls through the Microenterprise Assistance Program (MAP) and is gauging interest ahead of requesting funding via the grant.
The Seneca Falls MAP is structured to help encourage the cultivation of new small businesses while also supporting existing small businesses looking to expand. Made possible through a grant from the New York State Homes and Community Renewal Community Development Block Grant (CDBG) program, the program carries a focus on entrepreneurship and job creation for low-moderate income (LMI) earners.
Primary Program Objectives
1) Reduce storefront vacancy within the downtown Seneca Falls DRI area.
2) Assist in the start-up or growth of small businesses.
3) Create new part-time and full-time jobs, in addition to self-employment for business owners.
4) Create opportunities for LMI residents of the town, thereby decreasing poverty and generating household wealth.
5) Generate an economic multiplier that supports various local businesses, whether through the direct purchases of the awardee businesses or critical mass that attracts additional visitors.
Eligible Businesses
Grants are only available only to microenterprises. A microenterprise is defined as a commercial enterprise that has five (5) or fewer employees, inclusive of the owner(s) of the enterprise at the time of application. A business does not need to be in operation to be eligible, entrepreneurship is encouraged.
Employment Requirement
If awarded funding, the business must create at least one Full-Time-Equivalent (FTE) job. 2+ part-time employees who add up to a standard 40-hour work week would fulfill this requirement. In the case where no jobs are to be created, the business owner must qualify as a low or moderate-income person as established by Community Development Block Grant (CDBG). Prior recipients of a MAP award will be required to create at least one FTE position regardless of their income status.
Location Requirement
The business must be located within the Town of Seneca Falls.
Use of Funds
Grant funds can be used for machinery, equipment, inventory, operating costs, utilities, rent, furniture, fixtures, and other similar expenses. No funds can be used for construction, debt servicing, remodeling, or similar expenses.
Entrepreneurial Training Requirement
Participation in a qualified business training program will be required of all awarded participants, regardless of established business history. The training program syllabus will include a general overview of business; accounting, taxes, and finance; marketing and e-commerce; and development of a business plan.
• Fast Track to Business Start-up offered by the Onondaga Small Business Development Center (www.onondagasbdc.org) or other SBDC office.
Awardees who have completed this program within 24 months prior to the SFMAP award date may request to waive this requirement.
Grant Eligibility
Eligible applicants for the SFMAP are entrepreneurs and small businesses that:
• Are located in or planning to locate within the Town of Seneca Falls’ established DRI boundary. A map of the DRI boundary is below. For new businesses, the proposed location must be determined at the time of application. Any business in Seneca Falls is eligible, but additional requirements exist if located outside the pictured DRI boundary.
• Currently have 5 or fewer employees, including the owner(s). The number of employees is a headcount, regardless of part-time or full-time status.
• Are up to date on all local, state, and federal taxes and obligations. This includes, but is not limited to, property taxes, any water/sewer fees, sales tax, income tax, fines, etc.
• Are owned by, or commit to creating, at least one job for low- and moderate-income (LMI) person(s). LMI income thresholds are subject to change, but currently, individuals in Seneca County qualify as LMI if their household meets the following thresholds:
1-Person: $54,250
2-Person: $62,000
3-Person: $69,750
4-Person: $77,450
5-Person: $83,650
6-Person: $89,850
7-Person: $96,050
8-Person: $102,2501
• Commit to using funds for only eligible activities.
• Commit to providing an equity (cash) match of at least 10% of the awarded grant amount.
• Commit to following all applicable local, state and federal laws and regulations, including zoning, codes, business licensure, etc.
Eligible activities for use of SFMAP funds and equity match include:
• Machinery and Equipment (computer related equipment requires prior approval and must be used solely for business purposes).
• Furniture and Fixtures.
• Operating costs, including but not limited to Marketing, Inventory, Rent/Security Deposits, Utilities, Payroll.
• Only expenditures made/incurred after the signed contract date will be eligible for reimbursement.
Funding Details
Grant awards will range from $5,000 to $35,000.
Equity Match Requirement
Grant awardees must provide an equity (cash) match of at least 10% of the grant amount. For example, a grant award of $15,000 would require a match of $1,500. Proof of matching funds must be submitted in the form of relevant invoices and receipts showing expenditures made by the awardee. Match must be documented prior to any grant disbursements being requested.
Grant Disbursement
No funds will be disbursed to an awardee until a certificate of completion for the Fast Track to Business Start-up training program is submitted to SFDC, and until the equity match is documented.
NOTE: The Microenterprise Assistance Program is a reimbursement grant.
As such, expenditures must be first paid by the awardee and then submitted for reimbursement once the award amount has been fully exhausted or at a pre-approved benchmark.
The reimbursement request must include relevant invoices and receipts that satisfactorily show proof of payment. Hand written receipts will not be accepted as satisfactorily showing proof of payment. Upon review and approval of the request and documents, SFDC will issue a reimbursement check to the awardee.
INFORMATION MEETING
The SFDC will be holding an informational meeting on Thursday, September 24th from 6pm until 7:30pm at the Seneca Falls Community & Recreation Center (35 Water Street).
Attendance is not required to apply for the program and the purpose is to help explain the program in greater detail, answer questions, and gather Grant Participation Interest forms ahead of our formal application.
SFMAP Informational Meeting:
WHO: Anyone interested in possibly participating in the SFMAP
WHAT: We will cover the program in greater detail, be available to answer questions, and help interested participants complete the Grant Participation Interest Form.
WHERE: Seneca Falls Community & Recreation Center; 35 Water Street
WHEN: Thursday, September 24th from 6pm until 7:30pm
WHY: To learn more about the program and determine if your business, or planned business, is eligible to participate.
HOW: No RSVP is needed and there is no cost to attend.
GRANT PROCESS & TIMELINE
Interest Gathering Phase
The SFDC is required to provide NYS with a known list of interested parties, their business descriptions, and their requested award amounts as part of our formal application. Following the information meeting, interested parties will have until Friday, October 9th to submit a Grant Participation Interest Form.
Collected forms will be included as part of our formal application, and if awarded, the SFDC will open the application window. You do NOT need to submit a Grant Participation Interest Form to be eligible, but because these forms are used to determine our overall grant request, available funding will be based on the overall demonstration of interest.
The Grant Participation Interest Form is NOT an application! It simply signals your interest in possible participating in the program if the SFDC is awarded funding.
SFMAP Application Phase
If Seneca Falls is awarded funding through the Microenterprise Assistance Program, we will proceed to open formal applications to interested parties. We will again hold an informational meeting to assist business owners and answer questions prior to distributing formal applications. The SFDC, SFMAP Committee, and NYS will collectively review applications for scoring, eligibility, and funding consideration.
SFMAP Administration Phase
If awarded funding through the grant, the SFDC will help guide you through the program from the date of award to the date of your final reimbursement submission. Additional program details will be explained if the SFDC is awarded funding and we enter the formal application process.
GRANT PARTICIPATION INTEREST FORM
Click here to download the Grant Participation Interest Form in PDF format.
You can complete this form and bring it to the Information Meeting or email it to senecafallsdev@gmail.com.
Your form must be received no later than FRIDAY, OCTOBER 9th to be included in our requested funding amount, but this form is NOT required to formally apply for the program when/if opened.
Grant Participation Interest Forms will also be provided at the information meeting on September 24th. Please email Greg Zellers, SFDC Director, at senecafallsdev@gmail.com with any questions.
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