How to Apply
- Review the Grant Eligibility and Criteria below to determine if you are eligible
- Complete the Small Business Resiliency Fund Grant Application
- Prepare a Small Business Resiliency Fund Financial Profile
- Applicants selected for further consideration will be invited to submit a Financial Profile for review
Timeline
November 6, 2020 Application Live
November 16, 2020 Applications Due at 11:59pm
November 19, 2020 Applicants selected for further consideration receive invitation to submit Financial Profile
November 29, 2020 Financial Profiles due at 11:59pm
December 18, 2020 Applicants notified
Eligibility
For-profit (business) members of Vermont Businesses for Social Responsibility (VBSR) are eligible for a Small Business Resiliency Fund grant if they meet the following:
- Applicant’s VBSR membership must be in good standing, and they joined VBSR prior to 12/31/19
- Business must be in good standing with the State of Vermont
- Business must employ 30 or fewer employees (FTE)
- Annual revenues of the business must be greater than $50,000 and less than $5 million
- Business must operate in Vermont and have a majority of its shareholders in Vermont
- Businesses who can demonstrate financial stress or disrupted operations related to COVID-19, such as:
- Inability to make loan payments due to reduced sales or suspended operation
- Increased cost related to COVID-19 prevention measure
- Disrupted supply network leading to shortage of critical inventory or materials
- Required cease of operations due to government mandate
- Other circumstances subject to review on a case by case basis
- Businesses who meet one or more of the following categories:
Downtown Vitality
Locally owned downtown businesses who provide jobs, services, and amenities to local residents, including clean transportation and equitable/affordable housing.
Local Food System
Local food and beverage manufacturers, Vermont farms, food hubs, farmers markets, food co-operatives, eateries that support local economies (such as cafe’s and restaurants), and businesses who provide services to the local food economy.
Green Economy
Businesses that contribute to reducing environmental risks and ecological scarcities and promote sustainable development. Examples include green/net-zero building and construction; sustainable product design; material efficiency; waste prevention; upcycling, recycling and recovery; waste to energy; and renewable energy technologies.
Health & Wellness
Businesses whose products and/or services contribute to the emotional, mental, and physical well-being of their local community and/or Vermont.
Social Change
Enterprises who use their platform and/or offer services to promote and foster any of the following: socially responsible investing, justice, diversity equity and inclusion, climate action and sustainability, family-friendly workplaces, and community empowerment.
Non-profit organizations are not eligible. Businesses with full or partial ownership by VBSR staff, VBSR Board members, or their families are not eligible.
Criteria
A committee of VBSR partners will select proposals based upon financial viability, need, and triple-bottom-line excellence:
Financial Viability will be measured by the information provided in the Financial Profile, including cash flow, revenue, and changes to the business model between 2019-2020.
Need will be measured by the information provided in the Financial Profile, and is defined as follows:
- Inability to make loan payments due to reduced sales or suspended operation
- Increased cost related to COVID-19 prevention measure
- Disrupted supply network leading to shortage of critical inventory or materials
- Required cease of operations due to government mandate
- Other circumstances subject to review on a case by case basis
Triple-Bottom-Line Excellence will be measured by the applicant’s ability to rebuild, sustain, and grow their operations through a “triple-bottom-line” focused on people, planet, and prosperity through:
Employee-First Workplaces
Examples include: Investing in company culture; Generous and forward thinking employee benefits; Policies and practices that support employees’ family and financial stability
Investment in Local Economies
Examples include: Providing jobs, products, and services to the local community; Utilizing local suppliers for purchasing and business operations; Banking with a local credit union/bank; Business investors are local
Justice, Equity, Diversity, and Inclusion
Examples include: Demonstrated commitment to justice, equity, diversity and inclusion through Employee education and training; Business policies and practices; Leveraging business brand to bring awareness to issues and opportunities; and Community engagement and/or support
Environmental Sustainability
Examples include: Using renewable energy and environmental design; Environmentally friendly operations and/or supply chain; Supporting clean transportation; Participating in climate resilience initiatives
Positive Community Impact
Examples include: Supporting and partnering with non-profits and community organizations; Supporting employee volunteering; Investing in community development
For more information, please see our Frequently Asked Questions.