ROCK SOLID GRANT PROGRAM

The Rock Solid Fund, administered by the Nantucket Island Chamber of Commerce, provides grants to Nantucket-based small businesses to ensure their contribution toward a strong island economy.

For 2023, the Chamber is utilizing a new online system for the submission of grant applications. All applications must go through this system - PDF or word document versions will not be accepted as in the past. Also new for this year, a Spanish-language version of the application is available through this system.

Fund Purpose

The Rock Solid Fund, established in 2020, provides grants to Nantucket-based, for-profit small businesses to ensure their contribution toward a strong island economy. Ideally, applicants will use funds to execute an innovative project to ensure the growth and economic stability of their own business while creating a positive role model for others in the entrepreneurial community.

General Qualification Criteria

The current or proposed business must be a for-profit entity with primary operations on Nantucket. Not-for-profit entities are not eligible for this program.

The applicant should demonstrate the need for funding. Businesses that have received prior grants are eligible if they can demonstrate their application represents a new project.

The business must submit a reasonably detailed plan, including a rough timeline and estimated budget.

Grant proceeds should be allocated (products/services ordered) no later than June 30, 2023, with the entire plan implemented by September 29, 2023.

Examples of projects that would be strong contenders for this program include:

Upgrading point of purchase or inventory management technology;

Establishment of new sales channels such as e-commerce, off-premise delivery, or through new partnerships;

Registration/tuition fees for professional development for owners, management, or staff;

Purchase of equipment that will enable more efficient operations;

Marketing and sales projects that are specifically designed to target new customer segments or distribution/sales channels.

Applications that will not be accepted include proposed projects involving:

Funds used for existing debt payments, and/or equipment/services ordered prior to the applicant's notification of receipt of the grant.

Standard operating expenses such as rent/mortgage, automobiles, utilities, payroll, basic marketing, or maintenance.

Purchasing of real estate or an automobile.

Judging Criteria

Need - Other funds are not readily available or already granted for the proposed project.

Achievability - Realistic timeline, budget, and sufficient funding to achieve desired outcomes.

Impact – The project will have a meaningful, positive, and measurable impact on the business and the island community.

Grant Amounts and Distribution

Applicants are encouraged to carefully consider the dollar amount necessary to complete the proposed project and request only that amount. Funds will not be distributed until each selected grant recipient completes the process to receive approval for their final project plan and budget and submits a reimbursement form with associated purchase orders or receipts.

Application Process and Timeline - DEADLINE WAS FEBRUARY 22 - The application process is now closed

To apply for a Rock Solid Grant, the business must complete all questions on the application.  All information is confidential and will only be shared with the Review Committee for the purpose of evaluating the application.  Those applicants selected to receive a grant must sign an agreement for restricted use of the funds based on their accepted application.  

The Nantucket Island Center for Entrepreneurship is available to consult with any potential applicant about how they might utilize this program. Please direct all requests and questions via email to Grants@NantucketChamber.org