Fighting Chance Fund

What makes a business eligible to apply?

• Local, independent business as defined by the following criteria:
  • Business must be registered in the State of Florida, with the majority of the business’ ownership being either held by private individuals or a privately held company (i.e., not publicly traded).
  • Business must make independent decisions regarding its name signage, brand, appearance, purchasing, practices, hiring, and distribution, and must be solely responsible for paying its own rent, marketing, and other business expenses without assistance from a corporate headquarters outside of St. Petersburg.
  • Business must have no more than three franchises or outlet (with the same name).
• Businesses must have been operational for at least six months (as determined by Sunbiz registration)
• Business must have had a TOTAL 25 employees or less, both full-time and part-time, including employees managed through PEO
• Business must occupy a commercial physical establishment (brick and mortar) located in the City of St. Petersburg (Check to see if your business address meets eligibility)
• Business must demonstrate a loss of income due to COVID-19
• Business must be able to demonstrate working capital for business operations as of February 29, 2020 (as demonstrated by #2 in Required Attachments)
• The business must be in one of the following industries (primary NAICS code)
  • Restaurant  (includes full-service, limited-service, and café establishments)
  • Bar 
  • Retail  (physical brick-and-mortar establishment selling merchandise)
  • Individual businesses that operate within a co-working space and individual business owners leasing space from another business are now eligible to apply 
  • Personal Service (see links for full list of eligible uses)
    • Hair, beauty, and other personal services  (salons, barbers, day spas, saunas, tattoo)
    • Laundry services  (dry cleaning, laundromats, garment repairs and alterations)
    • Cleaning services 
    • Pet care services 
    • Personal care services (child care services , disabled & elderly care services , and funeral services )
    • Personal and household goods repairs & maintenance 
    • Fitness centers and gyms 
    • Event spaces & services 
    • Travel agencies  and tour operators 

What are the required documents that a business must provide?

• Copy of “active” state business registration from Florida Division of Corporations
  • Search by “Entity Name” here  (use full legal business name), select listing with “Active” Status, and attach most recent filing as a screenshot
  • If not required to register with Florida Division of Corporations, attach documentation showing the business meets all regulatory requirements from Pinellas County.
• Business Financials
  • Sole Proprietors and individual LLCs
    • 2018 or 2019 Schedule C (Form 1040) [1^st page of document is sufficient]
    • If registered as a business for less than a year, provide a Balance Sheet or Profit & Loss Statement.
  • C-Corps, S-Corps, corporate Limited Liability Corporations (LLCs)
    • 2018 or 2019 Corporation Income Tax Return (Form 1120 or 1120S) [1^st page of document is sufficient
    • If registered as a business for less than a year, provide a Balance Sheet or Profit & Loss Statement.
  • Partnerships
    • 2018 or 2019 Return of Partnership Income (Form 1065) [1^st page of document is sufficient]
    • If registered as a business for less than a year, provide a Balance Sheet or Profit & Loss Statement.
  • Non-profit organizations (501c3 only)
    • 2018 or 2019Return of Organization Free from Income Tax (Form 990) [1^st page of document is sufficient
    • If registered as a business for less than a year, provide a Balance Sheet or Profit & Loss Statement.
• Updated and Current St. Petersburg Business Tax Receipt
• Copy of Driver’s License or state ID
• Full employee list (as of January 31, 2020 and March 31, 2020)
• Copy of most recent St. Petersburg Commercial Utility Bill statement
  If applicant does not pay Utility Bill, provide Certificate of Liability Insurance – ACORD form – or other acceptable form showing current General Liability Insurance Policy at the commercial address.

What are eligible business expenses that the funds may be used for?

• Commercial Lease payments (March, April, May 2020)
• Commercial Mortgage payments (March, April, May 2020)
• Employee Salary and Benefits and funding existing Payroll
•  Other Sales, General, and Administrative expenses (SGA) deemed critical for business operations
•  Utilities
•  New equipment needed to assist the business to a temporary digital transition (e.g. webcams for virtual trainings, software licensing for videoconferencing, etc.)

How is the 25 employee count determined?
The 25 employee count is determined by the total number of employees –which includes full time and part time employees (including employees managed through PEO) for each separate business entity.

I have multiple businesses, is there a cap to what I can receive?
Yes. The cap is $10,000.00, for two eligible businesses.

A scanner is inaccessible during this time. How will I submit my documents to you?
Clearly legible photos of the required documents will be accepted. Mobile applications that perform scanning from your mobile camera is highly recommended. Examples of mobile applications include: Google Drive or Camscanner.

Will my business be eligible to receive funds from the federal CARES program if I receive funds from this program?
Yes. This is a grant program, not a loan or other type of credit that requires repayment by the recipient. While certain federal and state lending programs may have limitations regarding an applicant’s access to credit elsewhere, the City’s Fighting Chance Fund is a grant, not a loan, and you may proceed with applying for other programs. Please see www.stpetegreenhouse.com/prepare  for additional resources.  Please consult with your financial advisor or attorney for guidance regarding eligibility for federal or state funding sources.

Can non-profit organizations apply?
The Fighting Chance Fund has not created an eligibility based on tax filing status. Both for- profit and non-profits may apply but must meet program eligibility requirements.

Are homebased businesses eligible to apply?
No. At this time, homebased businesses would not meet the eligibility requirements.

I am my own business with all required documents but lease a space within another business, for example within a co-working space, a salon, massage studio. Will I be able to apply as a business? 
Yes. Applicants that have their own business filing and documents, are not independent contractors, who lease space within another business and meet all other requirements for eligibility can apply as a business. 

What happens if I do not include all of the required documents at the time I submit my application?
Do not submit your application unless you are able to provide the required documents, it will not be eligible. Please collect ALL required documents and submit the application and all documents in entirety.

I received Fighting Chance Funds already, can I apply again? 
No. 

Do I need to reapply if I applied before and was found ineligible but due to changes I am now eligible?
Yes, you must reapply. 

Is the application public record?
The submitted Application, including attachments, is subject to disclosure under Florida’s public records law subject to limited applicable exemptions. For additional information, see Request for Exemption from Public Records. Applicant acknowledges, understands, and agrees that all information in its application and attachments will be disclosed, without any notice to Applicant, if a public records request is made for such information, and the City will not be liable to Applicant for such disclosure.

Social security numbers are collected, maintained and reported by the City to be in compliance with IRS 1099 reporting requirements and are exempt from public records pursuant to Florida Statutes s.119.071.

If Applicant believes that information in its application, including attachments, contains information that is exempt from disclosure, Applicant must include a general description of the information and provide reference to the Florida statute or other law which exempts such designated information from disclosure in the event a public records request. The City does not warrant or guarantee that information designated by Applicant as exempt from disclosure is in fact exempt. The City offers no opinion as to the accuracy of the reference to the Florida statute or other law by Applicant. Please be aware that the designation of information as a exempt may be challenged in court by any person or entity, and Applicant agrees to defend and indemnify the City, its employees, agents and elected and appointed officials (“Indemnified Parties”) against any and all claims, demands and actions (whether or not a lawsuit is commenced) arising out of or in connection with Applicant’s designation and to hold harmless the Indemnified Parties for any award to a plaintiff for damages, costs and attorneys’ fees, and for costs and attorneys’ fees (including those of the City Attorney’s office) incurred by the City by reason of any claim, demand or action arising out of or related to Applicant’s designation of information as exempt from disclosure. There are limited exemptions to Florida’s Public Record Law, please find a document here that summarizes them: http://stpetegreenhouse.com/wp-content/uploads/2020/04/Request-for-Exemption-from-Public-Records-0.pdf