Business Assistance Program
Town of Mammoth Lakes Business Assistance Program
The Town of Mammoth Lakes established a Business Assistance Program to help retain local jobs, keep storefronts tenanted, and support the local economy in light of the COVID-19 pandemic and statewide Stay-At-Home Executive Order.
On June 10, Town Council approved funding to establish a business assistance program and on June 17, Town Council approved the program guidelines. This program is designed to help small business owners impacted by COVID-19 stay afloat during this unprecedented time. Qualified small businesses can apply for one-time grants in amounts up to $10,000 to utilize for business costs including rent or mortgage, payroll, utilities, insurance, loan payments related to running the business and any other documented cost of business operations.
Business Assistance Program Round 3
On September 18, the Town released the guidelines for Round 3 of the Business Assistance Program. The revisions eliminate the requirement for a minimum and maximum number of employees which opens the grant up to businesses with a commercial storefront that is a sole proprietorship or has more than 10 employees. Please note that businesses must still have less than $1,000,000 in gross revenue.
Support the Mammoth Lakes Business Assistance Program
Donations can be made to the Mammoth Community Foundation which is managed by the Mammoth Lakes Chamber of Commerce. Please visit the Chamber of Commerce website for more information on donations.
- Businesses must make less than $1,000,000 in gross revenues in the prior year (January 1, 2019 – December 31, 2019) from operations within the Town of Mammoth Lakes.
- Businesses must have a physical, commercial storefront in the commercial zoning districts (OMR, D, MLR, NVSP, CSP) of Mammoth Lakes. View the Mammoth Lakes Zoning Map for information on Zoning Districts.
- Businesses must have been in operation, with a current business tax certificate, for one year prior to March 30, 2020.
- Businesses must demonstrate that immediate assistance from other sources is inadequate, unavailable or unlikely to meet financial needs to secure opening and ongoing operations and/or to retain jobs.
- Applicants and their businesses must be in good standing with the Town with no outstanding fees, debts, or warrants.
- Businesses must currently open for business or intend to re-open once allowed to do so in compliance with Mono County and State of California orders and restrictions.
The following businesses are not eligible:
- Home-based businesses or sole proprietorship’s without a physical, commercial storefront
- Lending and investment institutions and insurance companies
- Businesses & nonprofit entities with no physical storefront
- Businesses operating outside of the Town of Mammoth Lakes municipal boundary
- Franchise businesses that are not independently owned and operated within the Town
- Businesses without a valid Town of Mammoth Lakes business license
- Businesses engaged in any illegal activity according to local, state or federal laws or regulations
- Subcontractors under a primary business license, such as in a salon
- Business owners or businesses with any of the following:
- Pending bankruptcy or insolvency proceedings
- Outstanding judgments or tax liens
- Conviction of fraud
- Delinquency of federal tax payment or a federally regulated loan
- Suspension or debarment from contracting with the federal government or receiving federal funds
FREQUENTLY ASKED QUESTIONS
How do I apply?
Grant applications will be available on the Town’s website beginning September 21, 2020 (Round 3). Only complete applications with all exhibits will be accepted. In addition to the application form, the following supporting documents will be needed:
- Internal Revenue Service (IRS) Form W-9
- Income statements for Q1 2019 (January 1, 2019 through March 31, 2019), and Q1 2020 (January 1, 2020 through March 31, 2020);
- Documents showing a 50% loss in revenue in April 2020 vs. April 2019
- 2019 financial statements sufficient to demonstrate eligibility criteria
These documents are for grant selection purposes only and will not be shared beyond the selection committee unless required by law.
What are the restrictions for the funds?
Donations are 100% restricted to pandemic relief for small businesses related to business costs including rent or mortgage, payroll, utilities, insurance, loan payments related to running the business and any other documented cost of business operations.
Who creates grant guidelines?
The Town has developed the guidelines and the funding committee will evaluate applications accordingly. The committee has sole discretion to determine the greatest need.
Who is on the funding committee?
The Funding Committee is comprised of two members of the Planning and Economic Development Commission, two members from the Chamber of Commerce, a member from Mono County Economic Development, and two Town staff members.
How and when will grants be allocated?
Round 1 grant application period will begin June 27, 2020 and will close on July 10, 2020. After staff evaluates applications for meeting eligibility requirements, the committee will review applications prior to July 27 and funding will b allocated by August 10.
Round 2 grant application period will begin on July 24, 2020 and will close on August 7, 2020. After staff evaluates applications for meeting eligibility requirements, the committee will review applications prior to August 21 and funding will be allocated by the end of August.
Round 3 grant application period will begin on September 21, 2020 and will close on October 11, 2020. After staff evaluates applications for meeting eligibility requirements, the committee will review applications prior to October 28 and funding will be allocated by the end of October.
How much will the grants be worth?
Grants will be disbursed in amounts of up to $10,000 per award, with an anticipated average of $5,000 per grant. Total grant funding disbursed will be dependent upon on how much money is available.
What will make an application more likely to be approved?
Applications demonstrating the greatest need, specifically an inability to generate revenues under the current COVID-19 restrictions on business operations and travel, businesses which rent or lease their locations and are more vulnerable to eviction and/or businesses whose landlords are not allowing rental flexibility, ability to reopen once doing so is allowed under Mono County and State of California orders and restrictions.
How much money will be available?
The program has initial funding of $300,000. Donations are anticipated to provide additional funding for the program.
How can the community donate?
The community can donate directly to the Mammoth Lakes Chamber of Commerce, our 501(c)3 fiscal agent.
Is the donation tax deductible?
Donations may be tax deductible; donors should consult with their tax advisors.
Are program grants taxable as gifts or income?
Possibly. Grant recipients should consult with their tax advisors.
Are short term rental property owners (Airbnb, VRBO, etc.) eligible for grants?
No, because short term rentals do not have a physical storefront in town they are not eligible.
- Business Need: Points are awarded to applications that clearly and specifically define how COVID-19/Shelter-In-Place has impacted their business.
- Planned Use of Grant Funds: Points are awarded to applications that clearly articulate how funds will help them stay in business.
- Sound Financial Management: Points are awarded to applications that demonstrate sound financial management.
- Council action on June 17th to create the grant program.
- Establish review committee by June 26th
- Application period opens for 1st grant cycle, program promotion begins June 27th
- Application closes on July 10th at 5:00 p.m., then applications will be screened by staff and submitted to Committee for rating and selection
- Grantees will be notified of award status prior to July 27th
- Awards granted by August 10th
- Application period opens for 2nd grant cycle, program promotion begins July 24th
- Application closes on August 7th at 5:00 p.m., then applications will be screened by staff and submitted to Committee for rating and selection
- Grantees will be notified of award status prior to August 24th
- Awards granted by August 31st
- Application period opens for 3rd grant cycle, program promotion begins September 21st
- Application closes on October 11th at midnight, then applications will be screened by staff and submitted to Committee for rating and selection
- Grantees will be notified of award status prior to October 28th
- Awards granted by the end of October
The Town of Mammoth Lakes is an equal opportunity provider of services and programs and will not discriminate against any applicant on the basis of race, color, national origin, religion, sex, gender identity, pregnancy, disability, age, medical condition, ancestry, marital status, citizenship, sexual orientation, or status as a Vietnam-era veteran or special disabled veteran.