Thanks to CFI donors, we will offer support to small businesses that have suffered economically from the impact of Hurricanes Helene and/or Milton. Gifts will be distributed based on need for independently owned business (average of $5,000 AS as funds allow).
The Sanibel-Captiva Islands Chamber of Commerce will participate in the review of applications and assist businesses in the completion of the necessary paperwork. FISH of SanCap will oversee the distribution of funds.
Gift Recipient Reporting Requirements
Donations to the Sanibel-Captiva Recovery Fund are tax-exempt to the extent the law and Internal Revenue Service (IRS) guidelines allow. In order to ensure that recipients do not incur a negative tax impact from this support, recipients will be required to report the data and information regarding how the funds are used, and when they plan to re-open their businesses.
Eligibility:
Business must have been open and operating on the islands of Sanibel and Captiva on/before October 1, 2024, or can provide documentation that the business was planning to open in the near future;
Physically or economically impacted by Hurricane Helene and Milton or can demonstrate their return to normal operations after Hurricane Ian was hampered due to these storms;
All necessary forms and acknowledgments submitted, including a W9.
It is the goal to make funding available to qualified applicants, contingent upon the availability of funds.
Funding can be used to:
For owners in financial need, funds may be used for the following purposes:
Reasonable and necessary expenses incurred for the repair or rehabilitation of a business, including loss of goods and inventory (rented or owned); or
For business property, grant dollars may be used for the following purposes:
· To combat community deterioration (rehabilitating property in a storm-devasted area); and
· Assistance is available for owners in financial need.
Questions? Email Alex Bustamante at Alex@sanibel-captiva.org
