The City of Takoma Park is offering the "Open for Business Grant Program" to support businesses that are opening or expanding in the city. This grant is funded through the City’s Neighborhood Commercial Corridor Fund, which is part of the American Rescue Plan Act (ARPA), with a total of $50,000 allocated for the fiscal year 2025. The program aims to encourage businesses to either locate within Takoma Park or expand their current space in the city.

The grant amount is capped at $10,000 per business, with the funding calculated based on the size and location of the business. Ground-floor businesses located outside the Old Town Commercial District are eligible for up to $6 per square foot of the space. Businesses located in the Old Town Commercial District or those on upper floors in other parts of Takoma Park can receive up to $4 per square foot. This flexible funding can be applied towards a range of business needs, including capital expenditures for new business fit-outs, improvements to existing tenant spaces, or as a one-time subsidy to offset lease costs.

Applicants for the grant must meet specific eligibility criteria. The business must be opening or expanding within Takoma Park, and the applicant must have a signed lease or ownership deed for a property with a start date no earlier than October 1, 2023. Additionally, the business should be in good standing with the State of Maryland, comply with all local, county, and state regulations, and possess a valid Use & Occupancy Certificate. The program is available to businesses that have not received funding from the City of Takoma Park in the past.

Applications for the grant are accepted on a rolling basis until the allocated funds are depleted. To apply, business owners must submit the Open for Business Grant Program Application Form, either online or in person. Along with the application, applicants must provide documentation such as a lease or deed, business license, Certificate of Good Standing from the State of Maryland, and completed W-9 and City Vendor forms. Grant awardees will receive 50% of the grant at the time of signing the grant agreement, with the remaining 50% awarded at the business's Grand Opening or re-opening, which must occur within six months of grant approval.

For more information on the application process or the program details, business owners can contact Patti Mallin, the Grants Coordinator, via email at the provided address or by phone.