Thrive Small Business Grant Program

About the Program
The City of Laurel Department of Economic and Community Development (Laurel ECD) will administer the Laurel Thrive Small Business Grant Program. The grant will provide a new business with the ability to grow, expand, hire and develop their company.

The goals of this program include:

• To provide financial support to new businesses
• To spur Economic Development to the City of Laurel
• To create additional jobs for City of Laurel residents
• To foster entrepreneurship and expand opportunities for new businesses

Applications will be accepted and reviewed on a first-come, first served basis. Submission of an incomplete or inaccurate application may result in delay or ineligibility. Please read all grant terms and application instructions before starting and submitting your application. One application per business entity is accepted.

Grant Amount
This Program will award grants in the amount of $10,000 to businesses owners that will be located within the City of Laurel. Business owners that have received funding from the City of Laurel within the last five (5) years are excluded from this grant.

In addition, the business must be open between July 1, 2024, and June 30, 2025. The total fund dedicated to this Program is $100,000.

Funds to support this program are provided locally through the City of Laurel’s General Operation Budget.

Grant Terms 
The City will provide grants of $10,000 to businesses that have been located within an approved zone within the incorporated boundaries of the City and that have opened between July 1, 2024, and June 30, 2025.

Grant recipients shall remain in operation within the City of Laurel for at least (4) four years or a penalty will be issued.

The penalty issued upon relocation outside of the City of Laurel or business closure prior to the four-year period includes the following:

• Within one year, 75% of the grant must be repaid to the City of Laurel
• Within two years, 50% of the grant must be repaid to the City of Laurel
• Within three years, 25% of the grant must be repaid to the City of Laurel

The grants shall be used solely to cover eligible costs that meet the goals of this Program (as set forth above), examples of which are covered under “Use of Funds,” as set forth herein. The determination as to whether the proposed use of funds by any applicant is eligible for funds from this grant shall be determined by the City in its sole judgment and discretion, based upon applicable criteria, and is not appealable. The following constitutes examples of generally eligible and ineligible uses of the grant funds, though the City retains the right to determine whether, based upon the facts of any application, and in the sole judgment and discretion of the City, the purpose of the requested funding satisfies the goals of the Program:

Use of Funds 

• Utility improvements that are required due to safety, efficiency, or changes in business operations
• Equipment and equipment installation costs required for the business due to safety, efficiency, or changes in business operations
• Point of Sale systems and accessories that are required due to safety, efficiency, or changes in business operations
• Office equipment, computers, and software that are required due to safety, efficiency, or changes in business operations (examples: laptops, monitors, printers, video conferencing membership)
• Interior remodeling of the commercial, office, or industrial business location (e.g. painting, lighting, flooring, bathroom renovation)
• Exterior signage
• Window signage
• Exterior awnings and canopies
• Exterior renovations, except those explicitly stated under
• Furniture
• Security systems

Ineligible Expenses

• Professional, engineering, architectural, and permit fees that are related to any of the above uses
• Business rent or business mortgage payments
• Artwork and décor
• Payroll Expenses

Eligibility
In order for a business to be eligible it must have been located within the municipal boundaries of the City, with a valid City of Laurel Use and Occupancy permit. A pre-application meeting will be required with Economic Community and Development (ECD).

Within that (4) four-year period, a business applicant may have changed its address, but it will still be eligible for this grant as long as all of the addresses were within the l municipal boundaries of the City, and as long as a valid City of Laurel Use and Occupancy Permit was held for the entirety of the period.

Ineligible Business Types or Persons:

• Houses of Worship
• Banks and Financial Institutions
• Food Trucks
• Corporate-Owned Franchises
• Businesses in which City Staff and/or elected officials of the City have a financial interest of at least 25%
• Online businesses

Eligible Locations:

The business must be located within a property located within the municipal boundaries of the City and shall be able to prove that it has been at that location, or another location within the City limits between July 1, 2024, and June 30, 2025.

The current location of the business must be on a property in any of the following zones:

• C-N – Commercial Neighborhood
• C-C – Commercial Community
• C-G – Commercial General
• C-SH – Commercial Shopping Center
• C-V – Commercial Village
• C-VAC – Commercial Village Activity Center
• O-B – Office Building
• O-B-E – Office Building
• I-CS – Industrial Commercial Services
• I-G – Industrial General
• I-RTP – Industrial Research and Technology Park

Additional Eligibility Requirements:

• The business shall have a current and valid City of Laurel Use and Occupancy permit
• The business shall be in good standing with the State of Maryland
• The business, all business owners, and the property owner must be current on all City, County, State, and Federal tax payments
• If the Applicant is not the property owner, the Applicant shall have owner sign off on the grant application.
• The business shall have a current business plan.

Application Instructions

• Please read all eligibility requirements thoroughly before beginning your application.
• The application may not be updated after submission. Please make sure your application is correct and complete before submitting.
• Only one application submission per business entity will be considered.
• Submission of an incomplete and/or inaccurate application may disqualify a business from being awarded funding. Please check your application for completeness and accuracy before submitting.
• Applicant shall submit a business plan.
• Review the Application Deadlines written below. No applications will be accepted after the deadline.
• Applications must be submitted through the online application portal
• If assistance is needed with the application, please contact the Economic and Community Development Department

Application Deadlines
Applications will be accepted beginning Tuesday, September 3, 2024 at 9:00 am.

This application will be open until allocated funds are fully distributed.

Businesses or business owner receiving funding of any type from the City of Laurel within two years of the start of this grant program will be ineligible to participate

Applications will only be accepted electronically through the online application portal. One application per business entity will be accepted.

Applications will be accepted and reviewed on a first-come, first-served basis. Submission of an incomplete or inaccurate application may result in ineligibility. If you have any questions regarding this grant opportunity, please email the Economic and Community Development.