What is the Streetcar Business Impact Fund?
The Streetcar Business Impact Fund provides financial support to businesses impacted by streetcar (SC) construction. It offers a mix of grants and low-interest, partially or fully forgivable loans based on business need and impact level. Review all of the Frequently Asked Questions and then submit an application below.
Funding is limited and awarded on a first come, first serve basis. Meeting eligibility requirements does not guarantee funding. We encourage businesses to apply early, as funds may be fully committed before all phases are complete.
What types of funding are available?
There are four main funding options:
- Grant (Survive): $10,000
- 100% Forgivable Loan (Strengthen): Up to $50,000
- 50% Forgivable Loan (Recover): Up to $75,000 (PHASE 3)
- 2% Loan (Recover): Up to $100,000 (PHASE 3)
How do I know which funding option I qualify for?
Eligibility depends on how your business has been impacted:
- Grant: At least 10% revenue decrease over 6 months review of July – December 2025 vs January – June 2026.
- 100% Forgivable: At least 2% revenue decrease over 6 months review of July – December 2025 vs January – June 2026 at 2% interest. Forgivable each quarter.
- 50% Forgivable: Growth under 2% over 6 months at 2% interest.(PHASE 3)
- 2% Loan: No significant sales impact (PHASE 3)
Who is eligible?
Businesses must:
- Be located within one block of the streetcar route
- Be impacted by construction affecting access
- Be legally registered
- Provide required financial and tax documentation
Can new businesses apply?
- New or existing businesses can apply for the 2% Loan
- All other funding options are for existing businesses only
What are the revenue limits?
- 100% Forgivable Loan: Under $3 million annual revenue
- 50% Forgivable & 2% Loan: Under $3 million annual revenue (PHASE 3)
What are the key requirements to qualify?
Applicants must:
- Demonstrate loss or impact to sales due to construction
- Provide a strong use of funds plan
- Be current on or committed to paying taxes
- Participate in Technical Assistance (TA)
- NOTE: Meeting these criteria makes a business eligible to apply, not guaranteed to receive funds.
What is Technical Assistance (TA)?
All applicants are required to:
- Complete a 360° business assessment
- Attend at least 3 support sessions
- Virtual Town Hall
TA helps ensure business sustainability and effective use of funds.
What can the funds be used for?
Funds must be used for eligible business activities that:
- Support operations
- Improve business stability
- Strengthen long-term viability
What are the loan terms?
- Interest: 2% during construction
- 100% Forgivable Loans with 2% Interest: During construction (Project until 1/1/2028) forgiveness occurs quarterly
- No payments are required until 1/1/2028
- 50% Forgivable Loans with 2% Interest: During construction (Project until 1/1/2028) forgiveness occurs quarterly (PHASE 3)
- 2% Loans: Fully repayable, amortized over the loan term. (PHASE 3)
Can payments be deferred?
- Forgivable loans: Principal deferred until after construction
- 2% loan: May include partial principal deferral
Do I have to stay open?
Yes. Businesses must commit to:
- Remaining open during construction
- Staying open for at least 2 years after project completion
When is “project completion” defined?
Project completion is expected:
- January 1, 2028, or
- When streets, sidewalks, and access return to normal (phased completion possible)
What documentation is required?
Documentation includes:
- W-9 and business registration
- Tax records (including income tax where applicable)
- Use of funds plan
- Cash flow assessment (for larger loans)
- Certificate of operation
Are there fees to apply?
- Application fees are waived for all programs
How are applications evaluated?
Applications are reviewed based on:
- Revenue impact (6-month comparison of July – December 2025 vs January – June 2026)
- Use of funds plan
- Cash-flow capacity (for loans)
- Completion of required documentation
What outreach and support is available?
- Virtual and in-person support
- Business canvassing and engagement
- Ongoing guidance through FAQ and TA sessions
Are there exceptions?
Yes. Exceptions may be made:
- On a case-by-case basis
- Guided by program values and committee review
What happens in case of default?
The program will pursue action in cases of:
- Fraud
- Misuse of funds
- Malfeasance
What happens if the fund is fully committed?
Once available funds are exhausted, new applications may be placed on a waitlist or the program may close to new applicants. We’ll update this page if that occurs.