8/27/2024 UPDATE:
The BEGAP application portal will reopen on Thursday, August 29 at 8:00 AM. $7 million has been approved to provide rapid relief to businesses, farms, and nonprofits that sustained physical damage from the 2024 flooding events. An additional $5 million will be available for ongoing recovery from the 2023 floods.
Before the application opens, businesses and nonprofits are encouraged to use this page to learn how the program works and what they need to have on hand before they begin the online application process. For information on flood recovery and support, please visit accd.vermont.gov/flood.
More Information
Eligibility Requirements
This information applies to all BEGAP funding.
An eligible applicant for BEGAP must be a business or nonprofit that meets the following criteria:
- Physical property damages must be in Vermont.
- Physical damages include damage to real estate, leasehold improvements, inventory, machinery, and equipment.
- Intends to reopen in the same location or elsewhere in Vermont and will utilize the grant funds for this purpose.
- Nonprofit organizations providing community service (education, utilities, health care facilities, or emergency services) that were denied a Public Assistance Grant from FEMA.
The following are ineligible:
- Municipalities
- Businesses or nonprofits that sustained only economic injury (revenue loss)
- Individual homeowners (for home-based businesses, this application only pertains to business assets)
- Nonprofit organizations that provide community service (education, utilities, health care facilities, or emergency services) and receive a Public Assistance Grant from FEMA.
2024 BEGAP Funding
Deadline
- Applications will be reviewed on a rolling basis. The application portal will close on November 15, 2024.
Eligibility
- Business or nonprofit must have been established before the 2024 flood(s).
- The location for operations and/or assets must have suffered physical damages from the 2024 flood(s).
Grant Calculation
- 30% of net uncovered damages, up to $100,000.
- “Net uncovered damage” is the remaining unmet need after subtracting any insurance proceeds and other grants or donations used to defray the costs of repairing or replacing damaged assets.
Required Information
- Contact information
- Damaged property location and ownership documentation such as property tax bill, lease
- Federal Employer Tax Identification Number (FEIN)
- Insurance policy information: type of coverage, policy number, agent contact
- Dollar amount of damages anticipated to be recouped through insurance
- Other grants or donations received and used to defray the costs of repairing or replacing those damaged assets
- Description of the impact of the flooding on the applicant
- Damage type and estimated costs for repair/replacement
Required Documentation
- Most recently filed Federal Tax Return (or 990 for nonprofits)
- Please Note: Complete tax returns are required, and documents cannot be password protected.
- Profit and Loss Statement if the business started recently or if the most recent tax return is unavailable
- An updated IRS Form W-9
- Please Note: Documents must be hand-signed in blue or black in within the last year. Digital signatures will not be accepted. The address on the W9 must match the mailing address listed in the application.
- Declaration or Certificate of Insurance for all policies held
- Supporting documentation for claimed damages (insurance adjuster report, vendor estimates)
- Repair estimates for physical structures, equipment, inventory, supply purchases, or actual paid expenses
- Photographs of damaged property (maximum of 5)
- Proof of interest in the damaged property (e.g. property tax bill, deed, lease agreement)
Note
- Preference will be given to applicants with the majority of their operations based in Vermont.
- 10% of funds will be set aside for awards to Black, Indigenous, and Persons of Color applicants.
- Applicants who received funding for 2023 flood damage are also eligible to apply for new damage sustained from 2024 flooding.