Business Stabilization Fund FAQ

*Update 4/6 - OED staff are reviewing applicants and will let applicants know by April 10th  

Frequently Asked Questions

1. What are the eligibility requirements?

Businesses must meet the following requirements to be eligible to apply:

(1) the business owner must have low- or median income (≤80% of the Area Median Income);

(2) the business must have 5 or fewer employees, including the owner(s);

(3) the business must have a physical location, and

(4) The business must have experienced a loss of income due to COVID-19.

Candidates must meet the criteria and agree to share financials.

2. What businesses are NOT eligible to apply?

Businesses that are franchises, chains, or restricted to patrons above the age of 18 will not be eligible for award (i.e. cannabis retailers and bars are not eligible)

3. Up to what amount of money can a business apply for?

Grants will be awarded in an amount up to $10,000.

4. What can the grant be used for?

Grant money may only be used for the operating expenses of the awarded business. The operating expenses are defined as the day-to-day trading operations of the business such as covering payroll and rent.

5. When must applications be submitted?

Applications are due Wednesday, March 25th. 

6. Where must businesses be located to be eligible to apply?

The program will be available to all citywide businesses meeting the eligibility requirements.

7. Why must I agree to share financials and what does the final review consist of?

Federal regulations require that the business provide proof of loss of revenue due to a destabilizing event.

8. Who set restrictions for the 2020 Emergency Stabilization Fund

The 2020 Emergency Stabilization Fund is sourced from the Federal Community Development Block Grant (CDBG) program that is provided by the U.S. Department of Housing and Urban Development. 

Questions? Email