The City of Lafayette reserves the right to determine project eligibility.
All applicants will be expected to secure the required City of Lafayette permits for their project. These will vary but could include a Sign Permit or Building Permit for any electrical or plumbing work. Small Business Capital Grant funds cannot be used for permit fees.
How are the funds disbursed?
The City has $75,000 available for the 2024 grant cycle which will be disbursed on a first-come, first-served basis.Grants are capped at 50% of eligible project costs, and no grant can exceed $7,500. They will be provided to businesses on a reimbursement basis. Funds can only be used for projects that have not yet begun and are approved by the City using the established application process.
How do I apply for a grant?
If you have any changes to the proposed project once an application has been approved, you must notify the City of the change to ensure that it is still eligible for the Small Business Capital Grant. Failure to do so could result in the City not processing reimbursement once the project is complete.
What are the application requirements?
Each applicant must submit a completed application and:
An estimated project budget, including cost estimates/bids (if applicable). The project budget must align with the submitted bids, unless the project narrative explains any deviations.
Proof of property ownership or current, executed lease for at least three years. The total lease length must be at least three years, but it does not need three years left in the lease.
A project narrative including any applicable project plans/drawings, renderings, or initial sign approval.
Photo(s) of the area to be improved.
How are applications reviewed?
City staff will review applications on a rolling basis, in the order they are received, and make awards based on available funding. The City will review each application for eligibility with program requirements, alignment with the intent of the program, and ability to complete the project in a timely manner.