Thank Small, Think Local Small Business Grant
Posted on 12/02/2020

With the support of Mayor Neil Johnson, the Bonney Lake City Council passed Resolution 2888, establishing the “Thank Small, Think Local” grant program authorizing up to $500,000 in grant funding for small businesses impacted by COVID-19.

Small businesses that apply and meet eligibility requirements can receive a grant in an amount between $1,500 and $10,000 on a first-come, first-serve basis. 

The application period opens at 9 a.m. on Monday, December 7 and closes at 11:59 p.m. on Sunday, January 3 or until funds are exhausted, whichever comes first. 

The application period is now closed. Applications are under review. All applicants will receive an email once a decision has been made. Thank you. 

'Thank Small, Think Local' Small Business Grant Program Eligibility Requirements

Eligible businesses

  • Physical (brick and mortar) location in the City of Bonney Lake, with address verified on date of application.
  • Been in operation and licensed within the City of Bonney Lake before March 1, 2020.
  • Have a current City of Bonney Lake Business License.
  • The business must be a for-profit business.
  • The business had 20 or fewer full time equivalent employees (FTE) as of March 1, 2020. To determine the number of FTEs employed, for each employee, enter the average number of hours paid per week, divide by 40, and round the total to the nearest tenth. The maximum for each employee is capped at 1.0.
  • The businesses is not owned, or partially owned, by employees or public officials associated with the City of Bonney Lake.
  • Demonstrate financial losses due to COVID-19 or related shut-down orders.
  • Demonstrate that eligible expenses were incurred while the business suffered financial losses related to COVID-19.
  • Receipt of grant funds will help business to survive temporary restrictions on operations and avoid permanent closure.

 

Eligible expenses must have been incurred between March 1, 2020 and November 24, 2020, and may include:

  • Business rent or mortgage payments
  • Retaining and/or supporting employees, payroll and benefits
  • Restoring financial resiliency
  • Addressing temporary COVID-19 related restrictions on business activity
  • Increasing technology capacity to enable alternative work forms or service delivery
  • Creating new marketing campaigns
  • Revising business plans
  • Paying vendor invoices
  • Facility cleaning/restoration

Eligible expenses do not include expenses that have been reimbursed through other government assistance programs. 


Application Information
The online application form will open at 9 a.m. on December 7 on this web page.

Following is a checklist of the information business owners need to have ready to apply: 

  • Copy of City of Bonney Lake business license endorsement
  • Eligible expense documentation totaling a minimum of $1,500 and up to $10,000. Documentation may exceed $10,000, however, that is the largest grant amount awarded.
  • Applicant W-9 Request for Taxpayer Identification Number (click to download from IRS website)

 

Staff Contact
If you have any questions, please don't hesitate to reach out to Leslie Harris at [email protected]