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Commissioners Court approves launch of small business grant program

by | Sep 2, 2020 | Latest

The Collin County Commis­sioners Court approved Mon­day, Aug. 24 the launch of the Collin CARES Small Business Grant Program that provides up to $25,000 for eligible compa­nies where gross revenue losses were more than 15 percent, due to the COVID-19 pandemic.

Businesses with less than $5 million in gross revenues and fewer than 100 full-time em­ployees are eligible, and must have operated continuously within Collin County for 6 months prior to March 1, 2020. Business owners can apply for up to three (3) business loca­tions having common owner­ship within Collin County.

Commissioners Court voted unanimously Monday after­noon to set aside $15 million in U.S. CARES Act funding for the grants in addition to the $30 million earmarked for Housing assistance and $5 million for local food pantries.

The program will accept on­line applications collincounty. gov from Sept. 4 through Sept. 25 and allows for eligible busi­nesses to receive from $5,000 to $25,000, provided the busi­nesses can document actual incurred costs. The grants are taxable, and the program ex­cludes those businesses within the City of Dallas.

Eligible expenses include:payroll, fixed overhead costs such as rent, utilities, contract labor, supplier ma t e r i a l / p ay­ments and CO­VID-19 related business im­provements such as personal protective equipment, sanita­tion supplies and equipment.

Details on qualifying for the grants will be posted on the Collin CARES pages at www. collincountytx.gov.

For more stories like this, see the Sept. 2 issue or subscribe online.

From Staff Reports[email protected]

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