The ACCD application for the Expanded Economic Recovery Grant Program has closed for new applications.
We have compiled answers to some of the most common questions that individuals have as they manage the effects of the COVID-19 pandemic.
If you have additional questions on eligibility, the grant application process or where you should apply for a grant, the Expanded Economic Recovery Grant Support Center can be reached at 802-828-1200 from 8:00am to 4:30pm Monday through Friday.
Access Your Existing Application
If you have already applied for an Expanded Economic Recovery Grant and need to access your application, please log in.
- Who is eligible for the Vermont Expanded Economic Recovery Grant Program with ACCD?
- My business previously received a Vermont Economic Recovery Grant from ACCD. Can I apply for the new Expanded Economic Recovery Grant?
- How is “unmet need” defined for the Expanded Economic Recovery Grant Program? How do I know if my business has one?
- What does it mean to be in good standing with the Department of Taxes?
- What does it mean to be in good standing with the Secretary of State?
- Are non-Vermont companies eligible for a grant?
- I started a new business in 2020, or I purchased an existing business in Vermont in 2019. Do I qualify for a grant?
- If I opened my business recently and do not have monthly revenue figures from March – September 2019, am I still eligible?
- Are sole proprietors eligible?
- My business is an LLC. How do I know if I am a sole-proprietor?
- Should I still apply for an ACCD grant if I received a PPP or EIDL loan or some other federal reimbursement?
- Can I apply for an Economic Recovery Grant if I have lost income from a long-term tenant not paying rent on a leased property that I own?
- Can I apply for an Expanded Economic Recovery Grant if I have a loss of income from short-term or vacation rental property due to forced closure, reduced demand, or non-payment of rent due to the COVID-19 pandemic?
An eligible applicant for an ACCD administered grant is a business or nonprofit that:
- Is domiciled and has its primary place of business in Vermont.
- Had at least $22,000 in total revenues in calendar year 2019.
- Has experienced a decline in total revenue from March-September of 2020 compared to March-September of 2019 due to COVID-19 and still has an “unmet need.” Find more information on how to calculate your unmet need. If you still have unmet need you can apply for this grant even if you have already received an Economic Recovery Grant from ACCD.
- Is open for business at the time of application or is closed now due to the COVID-19 public health emergency but can certify to its intention to re-open when conditions allow.
- Is in good standing with the Vermont Department of Taxes (find more information about what “good standing” means).
Applicants are eligible to apply through either the Vermont Department of Taxes or the Vermont Agency of Commerce and Community Development (ACCD). Applicants who have revenues that are not required to be reported on a Sales and Use or Meals and Rooms tax return are encouraged to consider applying at ACCD as it may result in a larger grant.
My business previously received a Vermont Economic Recovery Grant from ACCD. Can I apply for the new Expanded Economic Recovery Grant?
Yes. Your business can apply for additional funding from the Expanded Economic Recovery Grant program if your business continues to have an unmet need due to COVID-19 related sales/revenue losses. Additional information about unmet need, including a calculator to help you understand if your business has an unmet need, can be found at tax.vermont.gov/coronavirus/grants/unmet-need and in the FAQ below. If your business has received a Supplemental Economic Recovery Grant from ACCD, you can also apply.
How is “unmet need” defined for the Expanded Economic Recovery Grant Program? How do I know if my business has one?
If your business has experienced a loss in revenue or sales due to COVID-19, you may have an “unmet need.” Unmet need for purposes of the Vermont Expanded Economic Recovery Grant Program for applications to ACCD is calculated as follows:
- March to September 2019 total revenues LESS
- March to September 2020 total revenues LESS
- Any Paycheck Protection Program (PPP) loan your business received LESS
- Any Emergency Injury Disaster Loan (EIDL) Advance Grant your business received LESS
- Any prior Economic Recovery Grant(s) your business received LESS
- Any business interruption insurance proceeds your business received LESS
- Any other federal or state grants or credits that your business received related to COVID-19.
A business with March-September 2019 sales of $500,000 and March-September 2020 sales of $200,000 that received a $100,000 PPP loan and $50,000 Economic Recovery Grant would still have an unmet need of $150,000 and could apply for the Expanded Economic Recovery Grant.
Applicants must use this calculator to determine if your business has unmet need. Use of this calculator should not replace advice from your accountant or financial advisor. You must upload a copy of this completed calculator in your application.
Good standing for your business means that all required tax returns are filed and that all taxes are paid, OR if you owe any taxes that are past due, you are in a payment plan for those taxes. If you have any unpaid taxes for your business, you can call (802) 828-2518 to request a payment plan. Any taxpayers who are not in good standing will be deemed ineligible for the grant.
To be considered in good standing means a business can confirm it is compliant with all legal requirements to retain sole rights to its business name, and the authority to conduct business under its business name within the state of Vermont. A Certificate of Good Standing is not required to fill out the application.
Act 154 requires that eligible businesses have their domicile or primary place of business in Vermont. Generally, if your business is headquartered in Vermont you will be eligible, and if your business is not headquartered in Vermont you will not be eligible. If you are domiciled outside of Vermont but can definitively demonstrate your primary place of business is Vermont, please contact us using our "Economic Recovery Grants Live Chat" feature located on each webpage associated with the Economic Recovery Grants, or by calling 802-828-1200. If the business operates in more than one state, to determine the principal place of business several factors are considered, including where the management of the business functions, where books and records are kept, and where the senior officers conduct central business affairs.
I started a new business in 2020, or I purchased an existing business in Vermont in 2019. Do I qualify for a grant?
New businesses that opened in 2020 are eligible if they opened before March 1, 2020. ACCD will compare the amount of revenue during that period of time with the equivalent time period after March 1, 2020. Businesses that started in 2020 must upload FEIN Documentation instead of a federal tax return as well as a personal State Tax Return.
If I opened my business recently and do not have monthly revenue figures from March – September 2019, am I still eligible?
If you opened your business after September 2019 you are eligible. You will enter the revenue from the time you started until February 29, 2020. The comparison will be for the equivalent number of months from March through September 2020.
Yes. Sole proprietor and single member LLC businesses are eligible if they meet the grant eligibility criteria. Only one application can be processed per tax ID number. For sole proprietors and single member LLCs, this is the applicant’s social security number. If a sole proprietor or single member LLC chooses to apply for multiple business entities filed under a single tax ID number, those should be combined into one application. For example, if an applicant has two Schedule C filings under one federal tax return they can choose to file an application that includes either one or both of these schedules in the application. The DBA box within the application’s “Tax Information” sections should only be filled in by sole proprietors and single member LLCs if the applicant wants an award check to be made out to that DBA.
The easiest way to find this out is to look at your most recently filed tax return for your business. If your business was reported on Form 1040 Schedule C, then your LLC (limited liability company) is a sole-proprietorship.
Should I still apply for an ACCD grant if I received a PPP or EIDL loan or some other federal reimbursement?
Yes. ACCD is providing Expanded Economic Recovery Grants to provide economic support to those businesses in Vermont that have suffered costs and/or economic losses due to the COVID-19 public health emergency. There are several other sources of support available for businesses, including (but not limited to) the Paycheck Protection Program (PPP), and the Economic Injury Disaster Loan (EIDL). The State recognizes that these other programs may cover only a portion of the lost revenues that businesses face as a result of COVID-19, and believes that it has appropriately designed the program to provide support beyond these programs that addresses the portion of lost revenues not covered by other sources of funding.
Can I apply for an Economic Recovery Grant if I have lost income from a long-term tenant not paying rent on a leased property that I own?
Residential landlords are not eligible for this program. The Rental Housing Stabilization Program provides payments to landlords and property owners for missed rent payments for tenants with a long-term lease. Commercial landlords are eligible and must follow the guidelines for claiming loss of revenue.
Can I apply for an Expanded Economic Recovery Grant if I have a loss of income from short-term or vacation rental property due to forced closure, reduced demand, or non-payment of rent due to the COVID-19 pandemic?
Grant Award Calculation, Cap and Payment
- How will the Expanded Economic Recovery Grants be calculated?
- Is there a maximum grant amount?
- When will grants for the Expanded Economic Recovery Grant Program be paid?
- Is there a time limit on when I can spend the grant?
- What happens if more eligible businesses apply than there are available funds for grants?
The Expanded Economic Recovery Grant program will use a business’ unmet need as the basis for the grant award. If the program is oversubscribed, ACCD will issue grants based on proportional share of each business’s unmet need, up to the award cap. Each agency will use the same proration factor.
Yes. Act 154 instituted a $300,000 grant award cap which includes any previously received Economic Recovery Grants. For instance, if a business previously received a $50,000 Economic Recovery Grant, they could receive no more than $250,000 from the Expanded Economic Recovery Grant program, based on their unmet need and available funding. For businesses that received Supplemental Economic Recovery Grant payments, the total of the preliminary Economic Recovery Grant and the Supplemental grant will be deducted from the $300,000 cap to determine your total award amount.
It is expected that ACCD and the Vermont Department of Taxes will issue grant payments in late November after processing all the applications. Until all the applications are processed, ACCD will not be able to tell you how much grant funding your business will receive as the grants will be issued on a pro rata basis of each business’ unmet need.
ACCD guidance had previously stated that all businesses receiving a Vermont Emergency Economic Recovery Grant must spend the grant money by December 30, 2020. We are pleased to clarify that if a business obtains an Emergency Economic Recovery Grant for qualifying losses incurred between March 1, 2020 and December 30, 2020, the awarded grant funds may be spent by the business in 2020 or in 2021 as the pandemic impacts continue.
ACCD and the Vermont Department of Taxes will work together to assess the total unmet need of all qualifying businesses after the application period has closed and all qualifying applications have been processed. If the total unmet need of qualifying businesses exceeds the amount of grant funding available, each agency will pay the grants based on a proportional share of each business’s unmet need, capped at $300,000 per business for total aid from the Economic Recovery Grant program. The proration factor used by each agency will be the same.
Eligible Uses of Funds
Expanded Economic Recovery Grants are being issued to help provide economic support to your business, which has been impacted by closures, capacity constraints, and decreased customer demand due to the COVID-19 public health emergency. The funds can be used to pay both necessary expenditures that your business faces and costs directly associated with your business’ response to COVID-19.
Preparing to Apply
- What information do I need to apply?
- What is a NAICS code? Where do I find mine?
- Do nonprofit Arts and Culture organizations need to provide a NAICS code?
- What if I don’t have all the information that’s needed for the application?
- What is a W-9?
- What is an income statement?
- How do I create a monthly income statement?
- What is a cash basis versus an accrual basis report?
- Can I change my basis of accounting?
- Which part of my tax return should I use to report annual revenue?
- If I am a nonprofit entity should I include revenue from all sources or only program services revenue?
- Your Tax Identification Number (TIN). Your TIN is a nine-digit number used to file federal and state taxes. For businesses with employees, this is your Federal Employer Identification Number (FEIN). If you are a sole proprietor or single member LLC who does not have a FEIN, you will use your Social Security Number (SSN).
- The appropriate North American Industry Classification System (NAICS) code for your company. The NAICS is used by the United States, Canada, and Mexico to classify businesses by industry. If you don’t know your NAICS code, the application provides a drop-down menu based on industry keyword to find it.
Amount and source information about any compensation you have already received from Emergency Economic Recovery Grants, business interruption insurance, the Paycheck Protection Program (PPP), Economic Injury Disaster Loans (EIDL), or any other federal or state program for economic damages incurred as a result of COVID-19.
The North American Industry Classification System (NAICS) is used by the United States, Canada, and Mexico to classify businesses by industry. Each business determines its six-digit NAICS code number based on the majority of activity at the business. When you file your federal income taxes, you provide a “business code” that is based on the NAICS number and the information for your business tax filing includes a table of those codes.
Yes, a NAICS code is required on all applications for ACCD to properly identify the sector of each businesses or organization. Nonprofit organizations should choose the NAICS code closest to the majority of their operations.
For Arts and Culture organizations, please use one of the following NAICS codes: 519120 Libraries and Archives // 712110 Museums // 712120 Historical Sites // 712130 Zoos and Botanical Gardens // 711190 Other Performing Arts Companies // 711120 Dance Companies // 711110 Theater Companies and Dinner Theaters // 611610 Fine Arts Schools (non-academic) // 711310 Promoters of Performing Arts, Sports, and Similar Events with Facilities // 711320 Promoters of Performing Arts, Sports, and Similar Events without Facilities.
We strongly recommend you gather the following information before you start an application with ACCD. All documents must be in PDF format:
- Information to complete a W-9
- Federal and state tax returns for 2019 nonprofit organizations do not need to supply state tax returns but will need to provide their Federal Form 990 or Form 990-EZ.
- Income statements (profit and loss) month by month and totals for 2019 and 2020 (YTD)
- Vermont employer identification number (7-digit number used for Vermont Department of Labor filings). Providing this number is not required but helps populate some of the application’s required fields.
- Federal Taxpayer Identification Number (TIN)
- Contact information for the individual responsible for the application
- A completed unmet need calculator worksheet
The ACCD application should take about 10-15 minutes to complete if you have all your materials ready. Grants will be awarded on a first come, first served basis, so having everything you need to apply ready when you begin the application is very important.
It is important to enter in all required information correctly upon applying. The business name on your application must match the business name on your federal tax filings. Any improperly submitted applications will be categorized as incomplete. If edits are required (email address, incomplete documents, incorrect business ID information) you will receive an email with instructions for you to make those required edits, and you will need to resubmit your application. Please note that the documents that you upload will be used by ACCD to verify the accuracy of the entries on your application. Any discrepancies may impact your eligibility and/ or the amount of your ultimate award.
Form W-9 is a one-page IRS information form that provides your tax identification information to someone outside of your business, such as a vendor, client, financial institution, government agency, or other known account or business relationship. It is prepared by you, and given directly to whoever has requested it. The information on Form W-9 is typically used to provide the requesting party with your identity information when setting up accounts and/or reporting income or other forms of payments made to you during the year. You will need to know your FEIN, legal name as filed with the IRS, type of business for tax purposes, and business mailing address.
An income statement is also known as a profit and loss, P & L, or statement of revenue and expense.
An income statement shows (1) the revenues/sales before expenses/deduction, and (2) the business expenses/deductions for a specific period of time. Trust taxes (Sales Tax, Meals and Rooms Tax, Property Transfer Tax) that you collect from customers are not included as your business’ revenue and should be excluded or separated out from your revenue statement. The revenue minus the expenses equals the net profit or loss for that period of time. An income statement report should use either cash basis or accrual basis. You may use accounting software, spreadsheets, or other document programs to prepare an income statement. The tool used is less important than the format. The format should be (listed from top down): revenue first, expenses next, and net profit or loss last.
An income statement is also known as a profit and loss, P & L, or statement of revenue and expense.
Refer to "What is an income statement?" for the accepted format (and a sample document). Multiple periods, such as twelve months, may be shown on one income statement report, as long as there are columns for each monthly period listed horizontally, with a total column on the far right for all months on the report. A twelve-month income statement report would have thirteen (13) columns: January, February, March, etc. through to December, as well as a total for all twelve months. Alternatively, you may have separate pages for each month.
Cash basis reporting means that revenue is included on the income statement when it is received, and accrual basis reporting means that revenue is included on the income statement when it is invoiced to the customer, but payment may not yet have been received. On a cash basis report, expenses are included on the income statement when they have been paid, and on an accrual basis report when they have been incurred but not necessarily yet paid.
In addition to your reporting of revenues for the March to September time periods for calculating unmet need, the application requires that you provide a figure for your 2019 annual revenue. This number should be based on your federal tax return referencing one of the following:
- Partnerships: Form 1065 – Line1c
- Sole proprietorships: Form 1040, Schedule C – Line 2
- C-corporations: Form 1020 – Line 1c
- S-Corporations: Form 1020-S – Line 1c
- Nonprofits: Form 990, Line 12 or Form 990 EZ, line 9
- Estate and Trusts (filing Federal Form 1041): Schedule C, line 2
- Sole proprietors with rental income: Form 1040, Schedule E
In cases where your fiscal year is not a calendar year, you should report the annual revenue on the 12-month sum of revenues from your income statements.
If I am a nonprofit entity should I include revenue from all sources or only program services revenue?
The Expanded Economic Recovery Grant program allows for nonprofit entities to include revenue from all sources.
- How do I apply for a grant with ACCD?
- How long do I have to apply?
- Can I get help applying for the grant?
- Are there any resources for women- and minority-owned businesses to get technical assistance in preparing their application?
- Can my accountant fill out the application out for me?
- Is there a paper application?
- How do I create PDFs to submit my materials?
- Can I use a tablet to fill out my application?
- I am having issues with my email address and password. How can I reset it?
- Will I be able to use my login from the previous ACCD grant application or will I need to create a new account?
- Can I partially fill out the application and return to it later?
- What will happen if ACCD needs more information after submitting my application?
- I received a letter, email, or call that my business’ grant application was denied. Can I get more information or appeal?
- What happens after I submit my application?
- How can I check the status of my application?
You can apply by accessing a link to the application on ACCD’s Expanded Economic Recovery Grants page.
Applications for the Expanded Economic Recovery Grant program are available from ACCD starting October 26, 2020 until November 9, 2020at midnight. Because this is not a first come, first served program, it is not critical to submit your application on the first day. However, we strongly recommend that you complete your initial submission before November 9. ACCD will review applications and in some cases may return an incomplete application. Please be sure to submit an accurate and complete application. Any incomplete applications will still need to resubmit by the November 9, 2020 deadline. The Expanded Economic Recovery Grant program will issue grants to all qualifying applicants based on the total demand received over the entire application period.
If you need help, you can reach out to us using our "Economic Recovery Grants Live Chat" feature located on each webpage associated with the Economic Recovery Grants, or by calling 802-828-1200. We ask for your patience regarding any delays in responses or call wait times due to expected high volumes of applications and questions.
Are there any resources for women- and minority-owned businesses to get technical assistance in preparing their application?
Yes. If women- and minority-owned businesses need assistance completing an application or gathering the necessary documents, help is available from the Vermont Partnership for Fairness and Diversity and the Center for Women & Enterprise.
Yes. A third partly like an accountant can fill out the application on behalf of a business client if authorized to do so by the business. Businesses must certify to several attestations in the application. Applicants can also add additional contacts to the application (for example, your CFO or general counsel or attorney); these additional contacts can access and edit the application.
At this time we are not accepting paper applications. Applicants without internet or computer access can get help filling out the application by contacting their local regional development corporation.
Most software packages allow the user to either “Save As” a PDF or “Export As” a PDF. If you have only paper copies, these can be scanned into a PDF using a scanner printer. Businesses without a scanner printer can use a commercial copy center to scan documents and send them to you as a PDF, which you can then upload with your application.
No. Tablets are not compatible with our application system. Please use a desktop computer and make sure you're using one of the recommended web browsers.
You will be required to create a user ID based on your email address and password when applying. It is very important that you enter your email address correctly. If you need to reset your password, click on “Forgot Password.” An email will be sent to the address you provided with instructions on how to reset your password. If you type in your email incorrectly, you won’t get that email and won’t be able to reset your password.
If you receive an error message when you first apply that your email address has already been registered, and you have not be able to successfully reset your password using the "Forgot Password" link, we would recommend signing up for a new free email account to use to apply given the first come, first served nature of this application process.
Will I be able to use my login from the previous ACCD grant application or will I need to create a new account?
Applicants should use their previous login credentials, which will pre-fill many fields of the application.
Yes. You will be required to create a user ID and password when applying. You will use those credentials to access your application should you need to return to it later. The application will remain in an “unsubmitted” status until it is completed and submitted.
A reviewer will review your application and the documents you uploaded for accuracy and to ensure all necessary information was provided. If your application is complete and accurate, it will be forwarded on for approval. If anything is missing or inaccurate, your application will be given a status of Incomplete. You will receive an email explaining what is missing or inaccurate. You can resubmit your application with the corrected and/or new information. If an applicant does not resubmit the requested information by 11/9/2020 they will be disqualified from consideration.
I received a letter, email, or call that my business’ grant application was denied. Can I get more information or appeal?
If ACCD finds that your business does not qualify for the Expanded Economic Recovery Grant Program, we will attempt to contact you by phone or email to discuss your application. If we cannot reach you, you will receive a letter that indicates the reasons your business does not qualify. If you believe ACCD’s information is incorrect and you believe you could provide additional information that will allow your business to qualify, or you would like more information about why your application was denied, contact us using our "Economic Recovery Grants Live Chat" feature located on each webpage associated with the Economic Recovery Grants, or by calling 802-828-1200.
An ACCD staff member will reach out to you at the contact information you provided if there are questions about your application. You will be notified of the decision as soon as practicable.
Using the username and password you set up when you created your account, you can log in to the application portal to find the status of your application at: vermont.force.com/economicrecovery/s/login/
- Is there a third round of grant funding available?
- How will grant awards be allocated?
- If I indicated the incorrect NAICS Code on my application, can I change it?
No. The Joint Fiscal Committee voted to allocate an additional $75 million to the already existing Expanded Economic Recovery Grants on November 14th, 2020. The Joint Fiscal Committee prioritized this additional funding to meet 100% of the unmet need of Accommodations and Food Services sectors applicants who had already applied, up to $300,000 less previous grants received. No new applications are being accepted at this time, as the window for application has closed.
Grant awards will be prioritized to companies in the NAICS Code 72 (Accommodations and Food Services), per the decision made by the Joint Fiscal Committee on November 14th. All companies who fall within NAICS Code 72 will receive 100% of their calculated unmet need, up to $300,000, which shall include any previous grants or funds received from ACCD or Tax.
Grants awards for all other NAICS code businesses will be calculated by multiplying the Unmet Need by a factor that distributes the remaining appropriation across all remaining applicants in both the ACCD and Department of Tax programs. The factor is calculated by taking the total amount available for granting and dividing it by the aggregated unmet need calculated for each applicant and factoring in a maximum grant ceiling amount of $300,000, which shall include any previous grants or funds received from ACCD or Tax.
If you would like to inquire about changing your NAICS Code, please submit a request via our online form. A member of ACCD’s review team will review your request and contact you if more information is needed.
- Are the grant funds taxable income?
- Will information about my grant be released publicly?
- Where may I find additional resources available for my business to help with the economic downturn from COVID-19?
Funds awarded from this grant are considered taxable income. Recipients will receive a Form 1099-G, Certain Government Payments, in January 2021. Applicants are encouraged to discuss their tax situation with their accountant or financial advisor.
Yes. According to law, the identity of grant recipients and the amount received are both public information. Information regarding grant recipients for the original Economic Recovery Grants has been published. The information provided in your tax return and income statement are not public information and will only be provided to those that are a part of the review process for this program.