Siskiyou Economic Development
Siskiyou is paving the way for strong businesses, prosperous communities, and sustainable economic growth.

Microenterprise for Weed and Dunsmuir

Microenterprise for weed and Dunsmuir- Applications closED as of 4/1/24

 

Program overview

Microenterprises, for-profit businesses with 5 or fewer employees, in the Cities of Weed and Dunsmuir are eligible to apply for up to $20,000.00 through the CDBG Microenterprise Assistance Program. This Program will provide technical and financial assistance, in the form of business counseling and access to micro-grants, to income-qualified Microenterprise owners to encourage their growth and expansion. Eligible applicants will be able to participate in the program for up to three years upon qualification.

Start-ups who have a clear path to opening are encouraged to apply. Financial capital for start-ups will be made contingent upon the economic feasibility of the business, with a demonstrated ability to maintain revenue.

Eligible Microenterprise Owners must be classified as low-to-moderate income, and have a documented annual income that is 80 percent or less than the Siskiyou median family income.


technical assistance

Businesses will be required to register with the Siskiyou Small Business Development Center (SBDC), which provides businesses with no-cost business counseling and access to the greater NorCal SBDC Network. Benefits of joining include access to trainings, lending specialists, subject matter experts, and consultants who can help you grow your business. Businesses must work with Siskiyou SBDC counselors to develop a detailed proposed use of funds and how CDBG assistance will allow them to grow and expand their business. Businesses will not receive funding until they obtain a letter of support from the Siskiyou SBDC.

PROPOSAL REQUIREMENTS

Applicants will be required to demonstrate how they plan to use CDBG funds to improve their business. Applicants will do so by completing the following requirements:

  1. Completing A project Proposal narrative/plan, including an itemized budget.

  2. Cost comparisons from 3 (three) different sources for any capital expenditure over $2,500.00

  3. 12 months of financial projections


Additional startup requirements

While startups are encouraged to apply, this program is not intended to either be a sole-source of funding, nor is it a carte-blanche for any business venture that does not already have funding committed towards its opening. All funds that are committed must be documented to support that commitment in writing, and can come in the form of commitment letters, bank statements, and other documentation.

CDBG Dollars will be treated as “last dollars in” to any startup project, and an expected return on equity for the owner must be reasonable.

Startups will be required to additionally provide:

  1. A comprehensive business plan, to include CDBG funded project and itemized budget of all sources of funding, including owner equity

  2. 24 months of financial projections



Financial assistance-USE OF FUNDS

Once an applicant finalizes their proposal and obtains a letter of approval from the Siskiyou SBDC, their project proposal with CDBG grant funds will be reviewed by the Loan Advisory Committees for the Cities of Weed and Dunsmuir for final approval.

Funds may be used for:
a.      Operating expenses and working capital, including payroll to add employees, insurance, leases, utilities, etc;
b.      Furniture, fixtures and equipment;
c.      Capital improvements and storefront signage;
d.   Complementary/leveraged funds for private capital;
e.      Costs associated with reopening;
f. Costs associated with workforce development/employee training;
g. Childcare costs and other general support;
h. Digital marketing, website development;



Application INstructions and REQUIREMENTS

Please, before completing an application, assemble all of the required documentation. While applicants will be able to save their application before submitting, they are highly encouraged to read the Frequently Asked Questions (FAQ) before completing the application. Applicants are required to include the following documents on their application:

  • A Current/Valid Copy of a State issued Drivers License/ID

  • Full Copy of 2021 AND 2022 IRS Form 1040 for all Adults in the Household Who Earn an Income

  • A Completed IRS Form W9

  • Itemized Profit and Loss statements for the following years (if open and applicable):

    • 2021

    • 2022

  • A Copy of a Valid Business License in Dunsmuir or Weed

  • Payroll Information, such as IRS 941 or ADP Payroll report (If you have employees)

  • An Initialed/Signed Certificate of Assurances (Make sure you choose either the Weed or Dunsmuir one)




Download

contact and additional information

The CDBG Microenterprise Grant Program for the Cities of Weed and Dunsmuir is being administered by the Siskiyou Economic Development Council. All inquiries and questions not answered here can be directed to quintin@siskiyoucounty.org or via telephone (530) 842-1638.

Siskiyou EDC
Quintin Gaddy-Program Manager
quintin@siskiyoucounty.org
(530) 842-1638

The Community Development Block Grant Funds originated from the 2019 NOFA published by California’s Department of Housing and Community Development. CDBG funds must meet one of the three following National Objectives:

1) Assist community members who are Low-to-Moderate Income
2) Alleviate slums and blight
3) Address an urgent Community Need