Eligibility Criteria

Who may be eligible for assistance from the Mosquito Fire Business Recovery Program?

Applicants must meet a minimum of the following criteria to be eligible to apply for a Business Assistance Program– Mosquito Fire Recovery forgivable loan.  Please Note: Additional criteria will be evaluated during the Phases 1 and 2 application process as well as during the loan underwriting process.

• Be a for-profit business with less than 25 full-time equivalent (FTE) employees currently and prior to March 1, 2020.
• Be a legally operating out of a commercial space or home located in the unincorporated area of Placer County.
• Be in operation and generating Revenue since January 1, 2019.
• Be able to demonstrate one of the following:
  1. A minimum of a 15 % decline in Gross Revenue for the same 4-month period from 2021 to 2022 (e.g., a 15% decline in Gross Revenue from September to December 2021 to September to December 2022). 
  2. A minimum of a 15 % decline in yearly Gross Revenue between 2021 and 2022.
• Be able to demonstrate that the business has suffered from and/or continues to suffer from impacts from the Mosquito Fire that have not be covered by other disaster funding sources, insurance payments, unemployment insurance payments, etc.  NOTE: Forgivable loan funds cannot be used to cover lost revenue.
• Be able to demonstrate that any forgivable loan funds will be used to prepare for, prevents or responds to the impacts of the current (or a future) fire in accordance with HUD and CA Department of Housing and Community Development guidelines.
• Be able to provide business Federal Tax Returns including all Schedules and Attachments for 2021 (businesses filing a Schedule C will provide complete personal Federal Tax Returns including all Schedules and Attachments) and financial statements (e.g., P&L and Balance Sheet) or other documentation demonstrating the business’ financial performance in 2022.
• Not be involved in the distribution, sale or use of products or services considered illegal under Federal law or be involved in a business activity prohibited by CDBG regulations (e.g., private golf club).
• Have been profitable or breakeven on a cash basis in 2021 (excluding non-cash expenses such as depreciation and amortization).
• Have all required local, state, and federal licenses and permits and proper insurance for current and proposed business activities. If an applicant does not have proper permits, licenses, leases, or insurance at the time of application, then these items can be made a condition of funding if the loan is approved. 
• Be operating out of a location with zoning that allows for current and proposed business activities. 

The amount of funding and the threshold Gross Revenues for determining the amount of forgivable loan funds a business is eligible for may be adjusted as market conditions warrant after each funding round.  The actual amount provided to each applicant will depend on the need as determined during the underwriting process.