The McPherson County Community Foundation, in partnership with McPherson County, Kansas, is assisting small businesses seeking capital in response to the negative economic impacts of COVID-19 from the Strengthening People and Revitalizing Kansas (SPARK) Small Business Grant Fund.
The McPherson County Community Foundation program offers grants of up to $10,000 to eligible small for-profit businesses. The amount of a grant is to reimburse for costs and loss of income due to the business interruption impact of COVID-19. The total funds available under this grant program are $300,000.00.
Due to the limited funds available, priority will be given to the first applications received at the office of the McPherson County Community Foundation. There is no guarantee the maximum amount will be granted to a business. Grants will be awarded until funds have been depleted or through November 30, 2020 whichever occurs first.
Generally, these grant funds may be considered taxable. Businesses applying for grants should consult their tax advisors for more information. No supporting documentation is required to be filed with us at this time; however, a business may be subject to audit to determine the accuracy of the information within this application. If a business accepts this economic support, the business is required to maintain sufficient information and documentation for at least five years to allow the grantor to reasonably determine that such funds were used for COVID-19 business interruption costs incurred.
- The business must be able to demonstrate a loss of at least 25% of gross revenue from January 1, 2020 to June 30, 2020 over the previous period of January 1, 2019 to June 30, 2019. For simplicity purposes, the decrease in gross revenue percentage may be calculated by comparing gross revenue for the six-month period ending June 30, 2020 to one-half (50%) of the annual gross revenue for the prior year.
- The small business is owned and operates with a total of 50 or fewer employees. An “eligible employee” means an employee who was employed on March 13, 2020 and June 30, 2020 and worked in McPherson County at least 350 hours of service with such employer during the six-month period ending June 30, 2020. A self-employed worker is considered an eligible employee.
- The small business applying for funds is required to be an existing for-profit business located in McPherson County, Kansas and in good standing with the Kansas Secretary of State, if applicable.
- Not-for-profit entities are not eligible for this They are eligible for the McPherson County SPARK Nonprofit grant.
- The small business must have been in operation since January 1, 2019.
- The small business is open for business as of the date of the grant application.
- The grant proceeds can be used to pay working capital expenses such as payroll, insurance, rent, mortgage payments, utilities, inventory and more.
- Proceeds from this grant should not reimburse any expenses incurred by the business during the period January 1, 2020 through December 30, 2020 that are reimbursed under any federal or state program.
- In order to be fair and equitable with the distribution of limited funds, each business owner (regardless of the number of locations and/or businesses owned) is eligible for one $10,000 grant. If an individual owns more than one business, only one application should be submitted.
- The small business or its owners have no tax liability prior to 2020 in arrears with the Kansas Department of Revenue, the IRS, or McPherson County.