Applications are now closed. Please apply for future funding consideration.

PLEASE READ PRIOR TO COMPLETING THE GRANTS APPLICATION

The City of Lee’s Summit has granted funds to Velocity Lee’s Summit, Inc. (“Velocity”), with the support of the Lee’s Summit Chamber of Commerce (the “Chamber”), Lee’s Summit Economic Development Council (“EDC”), Downtown Lee’s Summit Main Street (“DLSMS”) as well as individual volunteers from the Lee’s Summit community, for the purpose providing business grants to help offset losses and expenses incurred as a result of the public health emergency with respect to the Coronavirus Disease 2019 (COVID-19).

Grants Up To $5,000.  Eligible businesses will be able to apply for grants in an amount up to Five Thousand and No/100 dollars ($5,000.00), so long as proof is provided by the eligible business for the intended use of funds.  

Funding Limited.  Depending on the number of eligible businesses who apply, funding may be limited and will be provided on a first come first serve basis with priority considerations as provide below.  Once funds are exhausted the LSMO Business Grants program will end.

Subject To CARES Act Changes.  All LSMO Business Grants are subject to the availability of funds and any modifications or additional requirements that may be imposed by law.  In the event of a change in the CARES Act or guidance issued by the United States Department of Treasury that affect this Agreement, the obligations of the County under this Agreement may be terminated immediately.  

All Funds Expended By November 23,2020.  In the event funds are awarded and paid from Velocity Lee’s Summit, Inc. to the Applicant, but any of said funds are not expended or incurred on or before November 23, 2020, said funds must be returned to Velocity on or before November 24, 2020.  In addition, if Applicant cannot provide proof of use of the funds said funds must be returned to Velocity on or before November 24, 2020.

Right to Withhold Funds.  Velocity reserves the right to withhold all or any portion of funds not yet disbursed pursuant to its CARES Act Reimbursement Agreement with the city of Lee’s Summit executed on or around September 14, 2020.

Businesses do NOT need to be members, donors or involved in any way with Velocity, the Chamber, EDC or DLSMS to apply.

What businesses are eligible?

  • Businesses physically located in Lee’s Summit, Missouri; and
  • Businesses with a valid Business License with Lee’s Summit, Missouri
  • Businesses with 500 or less employees

What businesses are NOT eligible?

  • Businesses without any earned income prior to March 1, 2020
  • Businesses with more than 500 employees
  • Businesses who are owned by, employ or contract with any volunteers or other persons participating in overseeing the LSMO Business Grants.
  • Businesses without a valid Business License with Lee’s Summit, Missouri as of March 1, 2020
  • Not for profit entities

Priority will be given to:

  • Businesses with a brick and mortar presence in Lee’s Summit
  • Businesses with less than $1,000,000 in annual revenue
  • Businesses who have not received any COVID-19 relief funding 
  • Businesses with less than 50 employees

Required Use of Funds:

  • Grants can be used for expenses incurred prior to November 23, 2020, that are related to; 
    • COVID-19 related supplies/equipment (i.e. masks, sanitizer, devices or equipment, etc.);
    • Business interruption costs associated with Jackson County ordered closures or capacity restrictions due to COVID-19, including decreased customer demand as a result of the COVID-19;
    • Costs as a result of closing voluntarily to promote social distancing measures.
  • Grants may not be used for repayment of any federal or state loan programs related to COVID-19 relief funding
  • NO DOUBLE DIPPING: Grants may not be used for expenditures for which Recipient is already receiving other emergency COVID-19 supplemental funding (whether state, federal or private in nature) for the same expense
  • Grants may not be used as a revenue replacement for lower than expected tax or other revenue collection
  • Grants may not be used for activity that is illegal under federal, state or local law

Additional Information:

  • Grant applicants must provide documentation of eligible COVID-19 expenses
  • Grant fund information is considered public information, and may be published 
  • Grant fund expenditures may be audited at a future date
  • Grant Applicant must be an owner of the applying business
  • In the event a business receives an LSMO Business Grant that the business should have otherwise been ineligible to receive, or made any material misrepresentation on its application, that business agrees to promptly repay all funds paid to back to Velocity Lee’s Summit, Inc.

Additional Supporting Documents

Please provide these WITH your application.  Your application is not fully submitted until all information we need has been submitted

Rule of Thumb: If you doubt it’s enough, then it’s probably not.  More info is definitely better.

Required Documents:

  • Driver’s License or other government issued ID
  • Copy of Lee’s Summit Business License
  • Separate sheet explaining how each request is related to/caused by COVID-19

Possible Supporting Documents (not an all-inclusive list):

  • Copy of lease for Business location
  • 2019 Business Tax Returns (or Schedule C of your 1040 if applicable) – please redact all SSNs
  • Profit & Loss Statements itemized by month
  • 6 months of bank statements for all Business accounts
  • Copy of Promissory Note for PPP loan to the Business
  • Copy of submitted PPP forgiveness application by the Business
  • Receipts for all incurred expenses (if a future expense this will have to be collected by November 23rd or the funds must be returned)
  • Copy of Invoices/Statements from 3rd Party Vendors hired to meet social distancing protocols (i.e. – delivery or curbside services).  Include your contract to reflect when you started this service.  If you were using anything here prior to March 1, 2020, this won’t count.

 

 

FAQs

Who are these grants intended for?

We are looking to give these grants to businesses who are in need.  Funds are extremely limited. The businesses who have been hampered by COVID-19 in some fashion (i.e. – reduced capacity restrictions, involuntary or voluntary business closure due to COVID-19, spent money to meet social distancing protocols by adding things like delivery or curbside services). This is an effort to help businesses truly in need.

If I live in Lee’s Summit, but operate my business in another city am I eligible?

No.

If I operate my business out of my house am I eligible?

As long as your house is in Lee’s Summit, MO, and you meet the other requirements

What does a brick and mortar presence mean?

This priority is to help us focus on the businesses that rely on patrons to frequent their establishments on a daily basis.  Think restaurants and retail.  Not having this presence does not make you ineligible, but it also won’t qualify you as a priority.

Do I qualify if I don’t have any employees other than myself?

Yes.

How many grants will you be able to provide through this funding?

Velocity is receiving a total amount of $225,000.  A small portion of that will be used to assist with administering this process.  We expect to be able to provide at least 44 grants, which would assume each grant maxes out at $5k.

When does the money have to be spent by?

Any portion of the grant for reimbursed expenses or lost revenue is already “spent.”  If your application is for future expenses, then we require that money to be spent, and receipts provided to us for proof of the spend, by November 23, 2020.

 

What qualifies as COVID-19 relief funding?

An example would be receiving other money via the CARES Act (i.e. – PPP, EIDL), or if you received assistance from other grant opportunities offered because of COVID-19

Do I need to submit proof with my application?

Yes.  Absolutely.  Yes.  Not submitting proof will cause your application to be ruled incomplete.  Give more than what you think you need to give to play it safe.  Here’s an example of documents you can provide:

Expense Category

Supporting Documentation

Expenses for Creating Curbside Service

-Copy of contract for service, needs to show start date of service so we can connection to COVID-19

-Itemized Receipts/POs/Paid invoices showing cost of service during eligible period

 

PPE Purchase

-Itemized Receipts/POs/Paid invoices showing type, quantity and cost of PPE products purchased during eligible period

*NOTE: If for products normally purchased in non-pandemic state (e.g. soap or cleaning products), additional documentation showing difference in original budget for those items to actual expense for those items as result of COVID-19.

 

Business Interruption Costs

-Documents showing when business was closed due to County orders

-Document showing fully capacity vs. reduced capacity under County orders

-If claiming lost revenue, past 3 years revenues and expenses (broken down month by month) compared to 2020 month by month revenues and expenses

*NOTE: For reduced capacity, document discussing revenues based on X% capacity vs. what projected to be (i.e. 3 yr avg) if at full capacity

 

Business Modifications to Comply with Public Health Orders

-Copy of contract for service or construction

-If done in-house, itemized list showing labor and material costs and expenses

-Itemized receipts/POs/Paid invoices for technology improvements to allow for telework.

*NOTE: Document showing that purchase not already budgeted and was COVID-19 related.

 

What if I can’t apply online or don’t feel comfortable applying online?

You may submit your complete application (which includes all supporting documents) to info@velocityls.org, or you can drop all of your information off at 229 SE Douglas, Suite 210, Lee’s Summit, MO 64063.  The time of drop off will be recorded to the minute to compare with online filers.

LSMO BUSINESS GRANTS APPLICATION

This Grant cannot be used to reimburse expenses that have already been covered by other CARES Act funding (i.e. PPP loans).
All Applications must be supported by proof of incurred expense or loss.