HAGERSTOWN, MD News (10/9/2024) – The City of Hagerstown has announced the launch of its new Main Street Startup Grant program, aimed at revitalizing vacant storefronts in the Main Street District of Downtown Hagerstown. The initiative is designed to help aspiring entrepreneurs overcome financial barriers, providing support for the critical early stages of business operations.
This grant offers eligible applicants up to $50,000, with no minimum award, and requires a matching contribution from the applicant equal to the grant amount. Funds are available on a rolling basis until they are fully expended.
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Program Components
The Main Street Startup Grant program consists of two key components: Business Rental Assistance and Small Business Improvements, both of which can be combined in an applicant’s request.
- Business Rental Assistance: This component provides up to six months of rental assistance, paid directly to the property owner, for new businesses entering vacant storefronts. To qualify, businesses must commit to occupying the space for a minimum of one year.
- Small Business Improvements: This aspect of the program requires a 1:1 match from applicants. Grants can be used for a variety of business needs, including renovations, the purchase of furniture, fixtures, and equipment, and marketing and promotion services.
Applicants can request up to $50,000 per business. Buildings with multiple vacant storefronts are eligible for more than one grant, though no more than three storefronts within the same building will be considered.
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Eligibility
The program is open to new and existing business owners looking to launch or expand businesses in currently vacant commercial spaces within the Main Street District, part of Hagerstown’s Sustainable Communities Area. Eligible applicants include businesses focused on retail, restaurants, and entertainment, such as specialty retail stores, apparel shops, and food and beverage establishments.
Certain business types are ineligible for the grant, including pawn shops, tattoo parlors, liquor stores, and personal care service businesses. Nonprofit organizations, as well as individuals or businesses not in good standing with the City of Hagerstown or the State of Maryland, will also not be considered.
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Application Process and Timeline
To apply, interested entrepreneurs must complete the Main Street Startup Grant application and provide necessary attachments, such as a letter of intent or signed lease agreement. Applications will be accepted until September 1, 2025, or until funding runs out, and are reviewed on a first-come, first-served basis.
Once approved, applicants will receive a Subrecipient Agreement, Rental Assistance Form, and a Letter of Commitment from the City of Hagerstown to assist in project financing. Grant payments will be made after the completion of the approved project, and a 1099 form will be issued, as the grant may be taxable under federal and state guidelines.
This program reflects the City’s ongoing efforts to enhance downtown Hagerstown by filling vacant storefronts with vibrant businesses and fostering economic growth. For more information or to apply, interested parties can contact the City’s Department of Community and Economic Development.
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How to Apply
To apply, visit the City of Hagerstown’s website.
Story by multiple RFHC contributors
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