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Wells Fargo Business Recovery Grant Program 2019 Hill/Woolsey Fires, California

Apply for a Business Recovery Grant for small businesses impacted by the Hill/Woolsey Fires in LA, Ventura, and Santa Barbara counties. Grants of $5,000 and $10,000 available. Deadline to submit applications is April 15, 2019.

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Wells Fargo Business Recovery Grant Program 2019 Hill/Woolsey Fires, California

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  1. Wells Fargo Business Recovery Grant Program 2019 Hill/Woolsey Fires, California In association with Women’s Economic Ventures

  2. Orientation Session: How to apply for a Business Recovery Grant

  3. Grant Funds totaling $240,000 available to eligible small businesses • Businesses must show they were economically impacted by the Hill/Woolsey Fires • Grants of $5,000 and $10,000 available • Approximately 30 grants available • Grant awardees will be required to attend related business/finance training • Grant will be paid in two (2) installments Diverse Small Business Business Recovery Grant Program - Overview

  4. Who is eligible? • An established business in LA, Ventura or Santa Barbara counties (i.e. at least 18 months in business) • Annual revenue less than $1.5 million • Able to demonstrate & quantify impact of the Hill/Woolsey Fires on business • Preference given to businesses that qualify as “diverse” (i.e. woman-owned, minority-owned, Veteran-owned, etc.) Business Recovery Grant Application Process For more information about Wells Fargo’s definition of a diverse business, please visit: www.https:/www.wellsfargo.com/com/financing/real-estate/community-lending-investment/cdfi/.

  5. Examples of Economic Impact (All examples would be expected to result in a revenue decrease) Fall in customers due to evacuations, damage, poor accessibility Lack of product, due to vendors not being able to ship goods in Cancellation of contracts or services due to wildfire impact Property or equipment damage resulting in services not being provided Inventory/livestock loss or damage due to fire/smoke/water

  6. Documentation Required: • Completed application form (hard copy or online) • 2017 & 2018 financial statements (Profit & Loss account and Balance Sheet) • 2017 & 2016 business tax returns* . Business Recovery Grant Application Process * Personal tax returns can be submitted if business returns are not available.

  7. Important Dates Grant application/award timing • April 1, 2019 – Application cycle opens • April 15, 2019 – Deadline to submit applications • May 15, 2019 – Grant awards announced • June 1, 2019– Grant agreements signed and first instalment (75%) of funds distributed • July/August 2019 – Financial & Business Resilience trainings for grant recipients • August 2019 – final installments (25%) distributed

  8. Financial & Business Resilience Trainings *Final workshop details may change Financial Resilience Growing Your Customer Base Understand the optimal customer base Target new sales & retain existing customers Traditional and e-commerce Diversifying products/services Build Synergistic business relationships • Debt & Expense Management • Business Savings • Disaster Recovery Planning • Business Insurance • Revenue Diversification

  9. Key Learnings from Thomas Fire Grant Recipients • APPLY!!! Don’t second guess it or feel “guilty” about applying for funds • Cut & paste the questions into a separate document so that you can take your time answering • Tell your story in detail and write a persuasive application (rather than 1 or 2 line answers) • Save the application regularly (using online link – check your spam box) The WEV/WELLS FARGO RECOVERY GRANT has provided me a level of comfort and support in knowing I can move forward with marketing strategies to generate sales. With the money received, I am able to create a plan for strengthening areas of my business that existed before the fire and during the present recovery process. The grant is a blessing in that mentorship through workshops have been created to further the connection of other small business owners and also stimulate deeper insights into financial planning and resource. I highly recommend taking this opportunity and applying.   Stacey Moss, Moss Botanicals, Ojai – Recipient of Thomas Fire Business Recovery Grant

  10. Large Image Slide For more information, contact Nicki Parr, WEV Business Recovery Specialist, on (805) 456 2348, or by email nparr@wevonline.org.

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