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*** PROGRAM UPDATE (SEPT 6, 2023): This is a free program. You should not pay anyone a fee to apply for and receive a grant award***
ASSISTANCE AVAILABLE: Power Up Spartanburg Impact Grants are designed to help small and minority business owners in Spartanburg County, South Carolina grow or expand their businesses. Power Up Spartanburg Impact Grants are a one-time payment granted to eligible applicants with 50 or fewer full-time equivalent employees.
Power Up Spartanburg Impact Grants of up to $5,000 will be made to eligible business applicants whose 2021 or 2022 gross revenue was between $25,000-$150,000, and up to $10,000 grants for eligible business applicants whose 2021 or 2022 gross revenue was between $150,001-$3,000,000. A total of $665,000 will be available for Power Up Spartanburg Impact Grants, 30% of which is reserved for businesses of color.
Applicants needing assistance can email onespartanburginc@ndconline.org and someone will respond as soon as possible.
ELIGIBILITY CRITERIA: An Applicant Must:
- Be the principal (majority owner) of a small business in Spartanburg County, South Carolina.
- Own a small business in the following zip codes: 29301, 29302, 29303, 29304, 29305, 29306, 29307, 29316, 29319, 29320, 29322, 29323, 29324, 29329, 29330, 29331, 29333, 29334, 29335, 29336, 29338, 29346, 29349, 29348, 29356, 29365, 29368, 29369, 29372, 29373, 29374, 29375, 29376, 29377, 29378, 29385, 29386, 29388, 29650, 29651.
- Have been in operation prior to January 1, 2021.
- Be in operation at the time of application (businesses that have ceased operations are ineligible).
- Have 50 or fewer full-time equivalent (FTE) employees.
- Have had between $25,000 and $3 million in annual revenue in fiscal years 2021 or 2022.
- Have an immediate need that will impact the business’s ability to grow or expand.
- Have experienced economic or financial hardship due to the COVID-19 pandemic or other economic factors.
- Agree to participate in technical assistance offered by a OneSpartanburg Inc. partner.
- Not be an ineligible business: Ineligible businesses include nonprofits, a business engaged in illegal activities, a third-party delivery or ridesharing service (unless entity is incorporated and has all other documentation required for this program), weapon sales, alcohol/tobacco/vape retail sales (except bars, restaurants, brewpubs, food trucks, caterers, grocery stores, and mini marts), consumer and marketing cooperatives, dealers of rare coins and stamps, multi-sales distribution, corporately-owned franchises, pyramid schemes or multi-level marketing schemes, loan packaging/lending, gambling, real estate investment firms, and illicit adult entertainment.
- Not be in conflict of interest with OneSpartanburg Inc, Spartanburg County, the County Legislature, a local municipality, or the third-party administrator (NDC).
REQUIRED DOCUMENTS: The following documents will be required to submit a complete application (incomplete applications may not be considered):
- Articles of incorporation/organization, bylaws, operating agreement, operating license, registration, as applicable
- Business EIN
- Proof of current registration with the Secretary of State of the State of South Carolina, as applicable
- 2021 and 2022 federal tax returns for the applicant business (all pages and schedules)
- Employer withholding tax return (IRS 941) for the most recent quarter, if applicable
- One business bank statement from 2021, and one business bank statement from the previous 90 days
- Valid government-issued photo ID for every owner with 20% or more interest in the applicant entity
- Must provide (business plan) information that includes the following: business description, ownership structure, target market(s), marketing strategies, executive personnel, projected revenue and expenses for two years, and monthly cash flow projections for the same 24-month period
- Applicants can work with a Power Up Spartanburg approved technical assistance provider to create a business plan, if needed.
- If awarded, Form-W9, Grant Agreement (including commitment to one year of free technical assistance), and voided business check.
ELIGIBLE USE OF PROCEEDS: Eligible use of grant proceeds include operating working capital expenses for your small business such as payroll, contract labor, purchase of equipment, rent, utilities or other expressly permitted uses.
HOW TO APPLY: Only one application will be considered per business. If an applicant owns more than one business, they may submit an application for each but only one eligible business per owner will be awarded. Funds will be awarded to eligible businesses who provide full and complete documentation, on a first-come, first-served basis. The program will remain open for as long as funds are available.
FUNDING IS LIMITED
Power Up Spartanburg Impact Grant Program
| | |
*** PROGRAM UPDATE (SEPT 6, 2023): This is a free program. You should not pay anyone a fee to apply for and receive a grant award***
ASSISTANCE AVAILABLE: Power Up Spartanburg Impact Grants are designed to help small and minority business owners in Spartanburg County, South Carolina grow or expand their businesses. Power Up Spartanburg Impact Grants are a one-time payment granted to eligible applicants with 50 or fewer full-time equivalent employees.
Power Up Spartanburg Impact Grants of up to $5,000 will be made to eligible business applicants whose 2021 or 2022 gross revenue was between $25,000-$150,000, and up to $10,000 grants for eligible business applicants whose 2021 or 2022 gross revenue was between $150,001-$3,000,000. A total of $665,000 will be available for Power Up Spartanburg Impact Grants, 30% of which is reserved for businesses of color.
Applicants needing assistance can email onespartanburginc@ndconline.org and someone will respond as soon as possible.
ELIGIBILITY CRITERIA: An Applicant Must:
- Be the principal (majority owner) of a small business in Spartanburg County, South Carolina.
- Own a small business in the following zip codes: 29301, 29302, 29303, 29304, 29305, 29306, 29307, 29316, 29319, 29320, 29322, 29323, 29324, 29329, 29330, 29331, 29333, 29334, 29335, 29336, 29338, 29346, 29349, 29348, 29356, 29365, 29368, 29369, 29372, 29373, 29374, 29375, 29376, 29377, 29378, 29385, 29386, 29388, 29650, 29651.
- Have been in operation prior to January 1, 2021.
- Be in operation at the time of application (businesses that have ceased operations are ineligible).
- Have 50 or fewer full-time equivalent (FTE) employees.
- Have had between $25,000 and $3 million in annual revenue in fiscal years 2021 or 2022.
- Have an immediate need that will impact the business’s ability to grow or expand.
- Have experienced economic or financial hardship due to the COVID-19 pandemic or other economic factors.
- Agree to participate in technical assistance offered by a OneSpartanburg Inc. partner.
- Not be an ineligible business: Ineligible businesses include nonprofits, a business engaged in illegal activities, a third-party delivery or ridesharing service (unless entity is incorporated and has all other documentation required for this program), weapon sales, alcohol/tobacco/vape retail sales (except bars, restaurants, brewpubs, food trucks, caterers, grocery stores, and mini marts), consumer and marketing cooperatives, dealers of rare coins and stamps, multi-sales distribution, corporately-owned franchises, pyramid schemes or multi-level marketing schemes, loan packaging/lending, gambling, real estate investment firms, and illicit adult entertainment.
- Not be in conflict of interest with OneSpartanburg Inc, Spartanburg County, the County Legislature, a local municipality, or the third-party administrator (NDC).
REQUIRED DOCUMENTS: The following documents will be required to submit a complete application (incomplete applications may not be considered):
- Articles of incorporation/organization, bylaws, operating agreement, operating license, registration, as applicable
- Business EIN
- Proof of current registration with the Secretary of State of the State of South Carolina, as applicable
- 2021 and 2022 federal tax returns for the applicant business (all pages and schedules)
- Employer withholding tax return (IRS 941) for the most recent quarter, if applicable
- One business bank statement from 2021, and one business bank statement from the previous 90 days
- Valid government-issued photo ID for every owner with 20% or more interest in the applicant entity
- Must provide (business plan) information that includes the following: business description, ownership structure, target market(s), marketing strategies, executive personnel, projected revenue and expenses for two years, and monthly cash flow projections for the same 24-month period
- Applicants can work with a Power Up Spartanburg approved technical assistance provider to create a business plan, if needed.
- If awarded, Form-W9, Grant Agreement (including commitment to one year of free technical assistance), and voided business check.
ELIGIBLE USE OF PROCEEDS: Eligible use of grant proceeds include operating working capital expenses for your small business such as payroll, contract labor, purchase of equipment, rent, utilities or other expressly permitted uses.
HOW TO APPLY: Only one application will be considered per business. If an applicant owns more than one business, they may submit an application for each but only one eligible business per owner will be awarded. Funds will be awarded to eligible businesses who provide full and complete documentation, on a first-come, first-served basis. The program will remain open for as long as funds are available.
FUNDING IS LIMITED