ELEVATE Fairbury

Fairbury’s QCT Small Business Assistance Program

 

In March of 2023, the City of Fairbury was awarded funding from the American Rescue Plan Act (ARPA) State and Local Fiscal Recovery Fund to create a program that will provide grant funding to small businesses located within the city’s Qualified Census Tract (QCT). To determine if your business is eligible for this program, please see the QCT map that shows the boundaries of the program.

 

The ELEVATE Fairbury fund provides grant opportunities to small for-profit businesses looking to start-up or expand. The purpose of the fund is to ELEVATE the QCT area, giving qualified businesses a resource to grow and continue making an economic impact on the community long-term. Economic impact can be defined through capital investment improvements or through job creation/retention. There is a limited number of funds available through this program and applications will be reviewed on a first-come first-serve basis.

 

ELIGIBLE APPLICANTS & CRITERIA

It must be the primary business that will be required to be located within the city’s QCT in order to be eligible for ELEVATE. Non-profit or Government entities and businesses outside of the QCT will not be eligible for this grant program. Businesses who are not in good standing with the City via billing, nuisance, or compliant issues will also not be eligible for this program. Applicants can be newly established or growing small businesses with 15 or less Full-Time Employees (FTE).

 

AMOUNT OF FUNDS

Eligible applicants may submit no more than one application (one application per business address) for a maximum of up to $15,000. Grant funds may be used for any of the below activities (combination of activities may be funded as long as it does not exceed the maximum amount). The minimum grant amount is $1,000.

 

ELIGIBLE USES

ELEVATE offers support and financial incentives aimed at growing a more robust economy in Fairbury. The incentives are intended to assist qualified businesses looking to start-up or expand their current operations. The targeted uses of ELEVATE include –

 

  1. Reimbursement of initial costs for new inventory and/or software up to $5,000 or equipment up to $10,000
  2. Reimbursement of building lease/rent/mortgage payments up to $10,000 or 12 months, whichever is lower
  3. Reimbursement for training, workshops or seminars up to $10,000 for 1 year
    1. Trainings, workshops, or seminars may include marketing, learning a 2nd language, leadership, succession, etc. up to $5,000
  4. Reimbursement for working capital up to $15,000
    1. May include employee incentives such as insurance stipends or partial tuition reimbursement not to exceed $10,000
    2. Payroll expenses if creating jobs (payroll reimbursement shall be determined based on the type of job created)
  5. Reimbursement of marketing expenses up to $10,000
    1. Marketing expenses may include developing an e-commerce platform or new website, digital marketing campaigns, photography, etc.

 

INELIGIBLE USES

To leverage existing Fairbury incentives and avoid competition, this program will not be used for the following uses –

  1. Refinancing of existing debt
  2. Housing related improvements
  3. Exterior façade improvements, including but not limited to windows, masonry, doors, signage, exterior lighting, sidewalks
  4. Interior improvements, including but not limited to paint, shelving, HVAC, electrical, lighting, floors, or other code compliant improvements (roofs, foundation or remediation of mold, lead, or asbestos)

 

APPLICATION REQUIREMENTS

  1. A complete and signed application. Applications that are not completed filled out will not be considered for funding. Supplemental information that may be required include –
    1. A copy of the current lease/rent/mortgage agreement (if applicable)
    2. A comprehensive business plan including a financial plan
    3. A detailed description of the scope of the project including the economic impact to the QCT
    4. A cost estimate of the intended use of the grant
    5. A Certificate of Good Standing with the Nebraska Secretary of State
    6. Recent financial statements (no more than 90 days old)
    7. A list of current employees in relation to full-time and/or part-time (if applicable)
      1. If tuition reimbursement is being utilized for the grant, a copy of the employees’ redacted loan balance showing the employee’s name, lender, account balance, terms, and interest rate
      2. Payroll expense documentation
    8. Targeted training opportunities (if applicable)
  2. Grant funds will be disbursed on a reimbursement basis and will not be issued until the project has been completed. The applicant must submit proof of payment and all required documentation to the City office. As this program was funded by a federal grant, all expenses must be paid and documentation must be provided to the city within 12 months of grant award or by September 31, 2026, whichever comes first.
  3. Additional documentation may be requested prior to grant reimbursement and will be at the discretion of the city. Additional documentation will be outlined in the Notice of Award.

 

APPLICATION PROCESS

  1. Contact the City office for an application. Grants will be available until funds have been completed disbursed or until the grant deadline, whichever comes first.
  2. Applicant will complete the application and provide necessary supplemental documentation.
  3. Application will be reviewed by Fairbury’s business review committee who will make a recommendation to the City Council.
  4. The applicant will receive a letter explaining if the application has been approved or denied. No work may be started and no costs may be incurred prior to council approval.
  5. If the council does approve your request, the applicant will have 12 months or until September 31, 2026 to complete their project (whichever comes first).
  6. Upon completion of the project, you will be required to submit receipts, proof of payment, and any additional documentation that is outlined in the Notice of Award prior to reimbursement.
  7. To celebrate the success of the program, the city will schedule a time to present the check to you and conduct a photoshoot.

 

 ELEVATE Fairbury Application

 QCT Map

Please return the completed application along with the required documents to: 

City Office

612 D St

Fairbury, NE 68352

www.fairburyne.org

 

For questions? Contact Laura Bedlan, Development Services Director, at (402) 729-5261 ext 2 or email: lbedlan@fairburyne.org