“Shop in Utah” Grant

The COVID-19 Impacted Businesses Grant Program or “Shop In Utah” grant will provide $25 million primarily to small businesses negatively impacted by the COVID-19 pandemic (75% will go to businesses with less than 250 employees). The grant is administered through The Utah Governor’s Office of Economic Development (GOED).


GOED logo

APPLY HERE!


Completed applications are accepted on a first-come, first-served basis and do not guarantee funding. The application window will only remain open as long as grant funds are available, so act fast!


Eligibility Requirements:

  • Have been in operation on March 1, 2020.
  • Have employees physically located in Utah.
  • Have experienced a revenue decline related to COVID-19.
  • Offer a discount or other financial incentive with an estimated value to customers of at least 50% of the total grant amount (discounts, coupons, or other offers).
  • Establish that the use of funds will benefit the state economy.
  • Not receive funding from the COVID-19 Cultural Assistance Grant program (“Create In Utah” grant)


To determine the specific grant amount, business owners must first calculate their total lost revenues. Then businesses must provide a “Shop In Utah” customer discount or promotion to cover at least half of their total lost revenues.

For example, if a qualifying Utah business has lost $20,000 in revenue since the coronavirus pandemic began, it could create a discount or promotion worth a total of $10,000 in savings to its customers to qualify for and claim a “Shop In Utah” grant worth $20,000!


Required Documentation:

  • A completed and signed W-9
  • A Profit & Loss statement for March to June 2019 if the business began operating before July 1, 2019; or a February 2020 Profit & Loss statement if the business began operating on or after July 1, 2019
  • A Profit & Loss statement for March to June 2020
  • A plan that includes a budget for the financial incentive offer to customers; the budget must establish how the funds will be spent before December 30, 2020

APPLY HERE!

2-STEP APPLICATION:

1) Set-up a username and password with the GOED application system (Note: it can take up to 24-hours to receive credentials to access the system).

2) Log in to complete the application and upload supporting documentation (NOTE: If you applied for previous GOED COVID-19 grant programs, please use this application link and the same access credentials)



NEED OTHER BUSINESS CAPITAL / FINANCE OPTIONS?

CLICK HERE FOR MORE INFO!


IMPORTANT TIPS: 1) Document all payroll costs, and 2) Create line items for each Covid-19-related expense (i.e., time spent on extra meetings, additional supplies purchased, increased cost of benefits. technology-related coping expenditures, etc.).

FREE CONSULTATION – BIZNIS CAPITAL / FINANCE
Please enable JavaScript in your browser to complete this form.
Name:

The Consultation is FREE, so there’s absolutely no risk!

SSL / Privacy Guaranteed

Re-source today with Biznis Resource… the better, easier way!