About the Program
Flagstar Bank’s grant program purpose is to help for-profit small businesses in the key markets of California (High Desert of San Bernardino County that have been affected by the COVID-19 crisis with their operating expenses. Grant amounts will be $5k per business.
Goals of the Program
To provide immediate financial support to BIPOC small businesses and entrepreneurs in Flagstar Bank’s market. This is to provide working capital grants to qualifying applicants.
Timeline
There is one round of applications for this program, as follows:
Applications will go live:
November 9
Applications due:
November 20, by 5p.m.
Applicants notified of grant decisions: December 4, 2020
If awarded, funds will be issued within a few days of decision dates.
How to Apply
There are three steps to applying:
1) Review the eligibility and requirements below before proceeding to make sure your business meets the intent of this program.
2) Complete the application.
3) Submit required documentation.
4) Incomplete applications will not be considered
5)Completed applications and ALL required documents should be submitted to info@blackchamberofcommerce.org
Eligibility Requirements
The following is a list of grant criteria and eligibility requirements:
• Grant amounts are $5,000 per business
• Businesses with annual revenues no more than $1 million.
• Businesses must have been in existence a year or longer.
• Businesses must be for-profit.
• If a business owner operates more than one business, only one application for a single business will be accepted.
Submit your completed grant application with your
Most recent tax filing
Last 2 months bank statements
Certificate of Good standing
W-9
to: info@blackchamberofcommerce.org
Eligibility Requirements Cont.
• The business name on the application must match the records with the State, County and City. Your business must be in good standing with the State, County and City.
• Certificate of Good Standing.
• The business must have a business address in California (High Desert of San Bernardino County).
• Grants may be used to cover the day-to-day operating expenses of the business, such as rent, working capital, payroll, utility bills or losses due to destabilizing events, etc. Grants may be used for transitioning to e-commerce, curb-side pick-up, delivery integrations and other creative solutions to increase revenue.
• Agree to share financials and other essential information
• Agree to share change in business as a result of the grant funding.