The Division of Small Business is pleased to announce that its DE Relief Grants portal will begin accepting new applications on Tuesday, Jan. 19 at 10 a.m.
This means that small businesses and nonprofit organizations that have not applied in earlier rounds will have the opportunity to apply for this relief program presented by the State of Delaware and New Castle County using federal CARES Act funds.
For those who have already applied for the DE Relief Grants program, the Division of Small Business is continuing to process applications as quickly as possible.
Rather than rejecting applications that are incomplete, or otherwise don’t meet the rules for the program, Division of Small Business staff is working with applicants to get their applications to the point where they can be approved.
We’re starting with those applications that need the least help and will move on from there to those applications that need the most work.
This process means some applications may not be processed within the usual two to the three-week timeline and we ask for your patience.
If you submitted an application close to the original Dec. 4 deadline and have not yet heard a response from us, it is likely because your application needed additional follow up. We hope to be in touch soon to let you know what is needed.
From the start of the DE Relief Grants program, one of the requirements has been that recipient needed to have experienced a revenue decline in 2020 compared to 2019. If they claimed the grant but did not experience a revenue decline, they would have to pay back the grant with interest.
The Division of Small Business is announcing that this interest penalty will be waived if a business returns grant funds prior to Feb. 15.
If a business has experienced a revenue increase in 2020 compared to 2019, it can return the funds prior to Feb. 15 without facing an interest penalty.
After Feb. 15, if a business is seen to have experienced a revenue increase in 2020 compared to 2019, it will be required to repay the grant with interest.
If your business did experience a revenue decline in 2020 compared with 2019, you will not be required to repay the grant.
Note: This forgiveness program applies only to DE Relief Grants, not to the State of Delaware HELP loan program.
For more information about the DE Relief Grants program visit delbiz.com/relief
Source: Division of Small Business