SoBuf Biz Grant
ASSISTANCE AVAILABLE: The SoBuf Biz Grant provides grants up to $5,000 to eligible brick-and-mortar businesses in the City of Buffalo Common Council South District (Buffalo, New York).
The eligible small businesses must have experienced economic hardship caused by COVID-19 and had revenue between $25,000 and $1,000,000 in either 2021 or 2022. Eligible applicants must have a commercial location within the City of Buffalo Common Council South District to qualify. Priority will be given to “neighborhood serving” businesses. Additional eligibility criteria are listed below.
Funds are limited. Incomplete applications will not be considered.
ELIGIBILITY CRITERIA: An Applicant Must:
- Be the principal (majority owner) of a small business in a commercial location (brick-and-mortar business) in the City of Buffalo Common Council South District; link to map
- Have been in operation prior to March 1, 2020.
- Be in operation at the time of application (businesses that have ceased operations are ineligible).
- Have 25 or fewer full-time equivalent (FTE) employees.
- Have had between $25,000 and $1,000,000 in annual revenue in fiscal years 2021 or 2022.
- Have experienced economic or financial hardship due to the COVID-19 pandemic.
- Not be an ineligible business:
- a business engaged in illegal activities,
- third-party delivery or ridesharing service (incorporated entities with professional drivers and a commercial location are eligible),
- weapon sales,
- alcohol/tobacco/vape/CBD/hemp retail sales,
- Must affirm that no more than 50% of alcohol sales are consumed off-premises.
- consumer and marketing cooperatives,
- dealers of rare coins and stamps,
- multi-sales distributions,
- pyramid schemes or multi-level marketing schemes,
- loan packaging/lending,
- corporately-owned franchises,
- passive real estate investment firms,
- illicit adult entertainment venues.
- Not be in conflict of interest with the City of Buffalo, or the third-party administrator (NDC).
- Be current on City property taxes. https://www.paydici.com/city-of-buffalo-ny/search/landing
REQUIRED DOCUMENTS: The following documents will be required to submit a complete application (incomplete applications will not be considered):
- Articles of incorporation/organization, bylaws, operating agreement filed with New York State
- Employer Identification Number (EIN) notice/letter from the IRS
- City license (if applicable)
- Proof of Address
- Current property tax bill if the small business is the landlord
- Current commercial space lease if the small business is a tenant
- 2021 and 2022 federal business tax returns for the applicant entity (all pages and schedules)
- Most recent IRS Form 941, Employer's Quarterly Federal Tax Return
- Business bank statement from the previous 30 days
- Valid government-issued photo ID for every owner with 20% or more interest in the applicant entity
- If awarded: Form-W9, Grant Agreement 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, façade work, marketing 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. Applicants needing assistance can contact email@example.com and someone will respond as soon as possible.