Rock Solid Fund - Grant Program
Rock Solid Fund - Grant Program
Rock Solid Fund Grant Program Spring 2021
Application deadline has passed.
The Rock Solid Fund provides grants to Nantucket-based small businesses to ensure their continued contribution toward a strong island economy. Ideally, applicants will use funds to execute an innovative response to the challenges of operating safely during the Covid-19 pandemic, ensuring the economic stability of their own business, while create a positive role model for others in the entrepreneurial community. The Rock Solid Fund is generously sponsored by the Town of Nantucket, ReMain Ventures, and our 2021 Daffodil Parade sponsors.
There are two programs available under the Rock Solid Fund:
Chamber Member Program - These grants are available to Chamber members in good standing, to fund an innovative approach to stabilizing or growing their business as they recover from the Covid-19 pandemic.
General Program - These grants are available to any small business that can show a need for financial support to enable the changes necessary for their business to operate safely in the 2021 season.
Eligibility Criteria and Application Process
Applications for Spring 2021 are now being reviewed by an independent Committee using a formal scoresheet. Applicants will be notified by late April of their status.
A business must meet the following eligibility criteria to be considered for a grant under either program:
- The business is a for-profit entity with headquarters or primary operations on Nantucket.
- The business has been etablished and operating at least two years on Nantucket.
- The business has generated positive cash flow prior to the impact of Covid-19.
- The business can demonstrate a financial need for the grant.
- The business submits a feasible plan, including timeline and budget, for the use of the grant in 2021.
Use of Grant Proceeds
Grants are to be used to offset the direct costs of innovating and/or adapting business operations to allow for Covid-19 safety compliance. Examples of acceptable use of grant proceeds include but are not limited to:
- Purchase or licensing of technology, and consulting services, to implement contactless ordering, payment processing, delivery, or onsite customer service.
- Planning and implementation of ways to safely manage customer access and traffic flow to and around offices, storefronts, restaurants, gyms, spas, and hotel public spaces.
- Services and equipment/technology to transition meetings, events and tours from in person to offsite or virtual attendance/participation.
- Unique ways to market products or services when normal channels are limited.
- Research/planning for new products/services to generate more revenue when existing offerings are less attractive to customers.
- Technology/services/equipment to enable customers to purchase and consume products off premise.
The following are examples of expenses that may not be funded through this grant program:
- Reduction of existing debt.
- Expenses incurred for changes to operations in 2020.
- Capital expenses for general improvements or expansion beyond what is necessary to adapt for Covid.
- Standard operating expenses such as rent, utilities, payroll and supplies.
- Any expense which will be covered by another grant or relief program the applicant has received (PPP, SBA, state grant etc).
Please address all questions to Grant@NantucketChamber.org
Congratulations to our Round 1 Recipients
The Chicken Box, a well-known, year-round entertainment venue and important supporter of island non-profits, will launch an expanded and enhanced online store for its merchandise. This will enable them to generate revenue this winter until they can operate again as a live venue.
The Beet, a downtown, year-round restaurant focused on healthy cuisine, will launch a digital cooking show series featuring Chef Felino's signature recipes, to generate awareness and sales of their family meal offerings this winter.
Current Vintage, a downtown boutique offering unique vintage clothing, home goods and wine, will launch an expanded online store to feature its constantly changing inventory of clothing and goods. This will enable them to generate revenue this spring while adhering to state Covid restrictions.
Fogged In Bookkeeping is managing an inventory purchasing automation project, working with local restaurants. The project will enable restaurants to make data-driven decisions to save money and maximize revenue during and after the pandemic.