Commissioners Court approves small business grant program launch

by | Aug 27, 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 material/pay­ments 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 Aug. 27 issue or subscribe online.

From Staff Reports[email protected]

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