DMPED – Equitable Economic Recovery Grant 2021

PROGRAM OVERVIEW

Industrial Bank’s DC Grant Initiative supports DC residents, DC based small businesses, and DC based non-profit organizations that are providing programs/support for District residents and District based small businesses. To further efforts in COVID recovery, the Bank is looking to support residents who experienced home mortgage delinquencies as a result of the Pandemic, organizations that have and/or shall provide services to primarily District residents and small, District based small businesses that have been negatively impacted by the COVID-19 Pandemic.

This Program is being funded, partially or fully, through the District of Columbia Executive Office of the Mayor – Office of the Deputy Mayor for Planning and Economic Development.

GRANT ALLOCATIONS

  • DC Residents (Individuals): 30 Grants at $10,000.00
  • DC Non-Profit Organizations: 7 Grants at $25,000.00
  • DC Based Small Businesses: 20 Grants at $20,000.00

Due to limited funding, please apply for only one category. Prior to applying, please be certain you meet all of the eligibility requirements listed below:

SELECTION CRITERIA (DC Residents)

  1. District residents that have experienced layoff, furlough, or a reduction in hours of the applicant or of a spouse or co-homeowner due to the COVID-19 pandemic.
  2. District residents that have fallen behind in their mortgage payments.
  3. District residents that have exhausted or nearly exhausted other assistance programs from their current lender.

SELECTION CRITERIA (DC Non-Profits)

  1. Non-Profit organizations that provide educational and/or informational services that will allow residents  or businesses to become aware of, get access to, or further their understanding of how to navigate programs or processes related to COVID-19 recovery.
  2. Non-Profit organizations that provide forgivable loans and/or grants to District-based small businesses in the District of Columbia.
  3. Non-Profit organizations that that can demonstrate they have been negatively impacted by the COVID-19 pandemic.

SELECTION CRITERIA (DC Based Small Businesses)

  1. Small businesses with a high level of revenue decline since March 2020 as compared to prior fiscal year ends.
  2. Small Businesses who began operations before January 1, 2020 and can demonstrate the effects of COVID-19 on the business.
  3. Small Businesses that can provide evidence of continuing solvency.

APPLICATION TIMELINE:

  • Grant Applications Open: October 20, 2021
  • Grant Applications Closed: November 10, 2021
  • 1st Round Grant Approvals: November 18, 2021
  • 2nd Round Grant Approvals: November 30, 2021
  • 3rd Round Grant Approvals: December 3, 2021
  • Disbursement of Grant Funds: December 10, 2021 – December 31, 2021

APPLY HERE

 For questions,  please contact dcgrant@industrial-bank.com 

 

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