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Open for Business Grant Program

Grant Purpose

The City of Takoma Park’s Open for Business Grant encourages businesses to locate within the City, or to expand their current Takoma Park space.

Funding Facts

Open for Business Grants are funded through the City of Takoma Park’s Neighborhood Commercial Corridor fund, part of the American Rescue Plan Act (ARPA). This fund has $119, 157 allocated for FY24. Grant applications open on January 29, 2024, and awards will be approved on a rolling basis until funds are depleted.

Grant (Award)

Grants are capped at $10,000 to a single business and are calculated as follows:

How to Apply

Interested business owners may apply online.

Note that the application will ask for your lease or deed, your business license, your Certificate of Good Standing from the State of Maryland, and a completed W-9 and City Vendor form.  Links are provided in the application for the W-9 and vendor form.

Eligible Grant Uses

There is no restriction on usage of grant funding. Grant funds can be applied where most needed, whether to support capital expenditures and hard costs related to new business fit-out, existing tenant improvements, or serve as a one-time subsidy to offset cost of lease.

 

 

Quick Links

Eligibility Criteria

Eligible applicants are businesses who

  • Are opening or expanding in the City of Takoma Park, with an ownership deed or a signed lease of at least three years for the property with a start date no earlier than October 1, 2023.
  • have not have received prior funding from the City of Takoma Park,
  • are in Good Standing with the State of Maryland
  • are in compliance with all City, County, and State regulations, and
  • have a valid Use & Occupancy Certificate.

Award Determination & Process

All confirmed eligible applicants will receive awards pending fund availability. Awards will be made on a rolling basis as long as funds are available. 50% of the grant amount will be given at the time of execution of Grant Agreement. The remaining 50% will be awarded at the time of the business’ Grand Opening or re-opening, which must be within six months of approval.

Questions

Contact the City’s Grants Coordinator at grants@takomaparkmd.gov or 301-891-7235.

Economic Development Sections