Small Business Capital Grant FAQ's
Why is the Village starting this program?
The Village of Gurnee recognizes and appreciates the value, hard work and investments made by the small business community during the COVID-19 pandemic. The Village, through prudent budgeting during the pandemic, is now in a financial position to offer incentives to business owners to do projects that might not otherwise have been possible.
What is a capital project?
A capital project is a project which enhances or improves an asset; in this case, commercial real estate. The intent of this program is to help fund improvements or repairs of a permanent nature that will remain with the property. Capital projects are typically defined as new construction, expansion, or renovations of a property. Common capital improvement projects are: roof replacement, patio structure of a permanent nature, parking lot improvement, signage improvement, plumbing ,electrical and HVAC improvements, etc.
What is the difference between the Transformational Grant and Impact Grant
The Impact Grant is intended to support small businesses with capital investments that do not meet the $100K minimum investment threshold. This is a 1:1 matching reimbursable grant up to $10,000.The Impact Grant is also open year round till funds are no longer available.
The Transformational Grant is for small business owners with capital investments greater than $100K. Applications for the Transformational Grant are only accepted from now through April 15. This is a 1:1 matching reimbursable up to $50,000. Only two grants of this size will be awarded.
What type of projects fit in the scope of the SBCG?
| Construction - site, interior or exterior |
HVAC improvements |
| Parking lot improvements no less than resurfacing or expansions |
Accessibility improvements |
| Patio type structure of a permanent nature |
Carryout/Curbside reconfiguration including permanent signage |
| Facade improvements/restoration |
Improvement or installation of high efficiency materials or permanent technology to building |
| Life safety improvements |
Exterior signage (ground or wall) excluding individual sign face changes |
| Plumbing improvements |
Capital equipment if permanently installed |
| Electrical improvements, including lighting |
Awning improvement or addition |
| Dumpster enclosure |
Re-roof |
| Painting, only in conjunction with a larger project, minimum total investment $10,000 ($5,000 grant) |
Permanent fencing improvements |
| Landscape installation, only in conjunction with a larger project, minimum total investment $10,000 ($5,000 grant) |
Professional fees (excluding building permit fees) required to accomplish or undertake project |
Replacement Capital projects of qualifying elements will generally be eligible so long as the replacement is of a permanent nature and will remain with the property.
What projects do not qualify under the SBCG Program?
Examples (non-inclusive) of ineligible projects:
- Demolition and demising, grading, sealcoating, or acquisition of furniture, fixtures & equipment (commonly referred to as FF&E expenditures)
- Repairs are generally ineligible unless specifically listed as eligible (e.g. roof)
How does a matching grant work?
Under the program, the Village will provide matching funds up to $10,000 for eligible capital projects. the applicant is required to match the grant funds approved to complete the project by expending at least an equal amount of their own funds to complete the project. Applicant labor and time contributions to the capital project or "sweat equity" cannot be included as match expenditures required from applicant.
What is the application deadline?
The Village will accept applications for the Impact Grant year round until funds are no longer available.
Application period for the Transformational Grant is now through April 15; two awards will given. If you have missed the deadline to apply, feel free to apply for the Impact Grant.
What is the maximum I can apply for?
Businesses may request reimbursement of 50% of eligible expenses.
Impact Grant is 1:1 matching up to $10,000.
Transformational Grant requires a minimum investment of $100,000 and is a 1:1 matching grant up to $50,000.
When are funds awarded?
Funds are awarded upon completion of the capital project(s) as long as the proper documentation is provided, which must include the following documents:
- W-9;
- Paid receipts; and
- Contactor's affidavit affirming project completion and payment
What type of businesses qualify under the Program?
All eligible businesses must meet all of the following conditions:
- Generate sales tax, food & beverage tax, or amusement tax and be current with the remittance of all such taxes payable to the Village
- Hold current Village of Gurnee business license and be properly licensed in all other respects (excludes home occupations)
- Must be compliant with all obligations and in good standing with the Village of Gurnee
I own commercial real estate in the Village; can I apply?
Applicants need to be an eligible licensed business in the Village of Gurnee, however:
- Eligible business tenants located on commercial real estate owned by you can apply, and landowners can help fund the proposed project.
- In addition, multi-tenant center owners with qualifying businesses in the center, may qualify once for up to $10,000 to fund common area improvements or build out a tenant space for an eligible business.
