Rockville Small Business Impact Fund
The Rockville Small Business Impact Fund (SBIF) will offer financial assistance to qualified, small- and medium-sized businesses to promote economic development in Rockville’s performance districts, especially start-ups and businesses that lack the capital to sustain growth.
The SBIF is designed to promote economic development in the metro-area performance districts of the City of Rockville. The fund is targeted toward existing and new businesses in these districts, which will continue to boost economic impact and strengthen business development in the downtown area. The fund aligns with REDI’s strategy to foster economic vitality through projects that support the Mayor and Council’s vision for economic development and offer substantial public benefits, including:
- Retaining and creating new jobs, with an emphasis on traditionally under-employed populations.
- Retaining and expanding key business uses and services.
- Encouraging positive social impact.
- Supporting business-to-community engagement.
There are two application deadlines each year–September 30 and April 30. Applications received after each deadline will be considered in the next review cycle. Applications will be reviewed/approved until all available funds are awarded.
Metro-area Performance Districts
To receive the Impact Fund, existing and new businesses must be located in one of two Incentive Areas highlighted below.
- Complete the online application.
- Provide the required supporting documentation via the online application or email as outlined in the program guidelines.
- Submit application and supporting documentation by REDI’s application deadline–September 30 or April 30. Once all documentation is received, REDI will review the application and determine eligibility.
- Eligible applications will be forwarded to the Incentive Review Committee for review and funding determination. All funds awarded are subject to available program funding at the time of approved application. Program funds will be disbursed based on an agreed-upon schedule once all required project documentation is on file with REDI.
REDI reserves the sole right to amend, modify, add or delete any part or subpart of this Program. Additionally, REDI reserves the sole right to accept, reject, or modify any application.
For more information, email Richelle Wilson at Richelle@RockvilleREDI.org or call (301) 315-8096.