PLANO (WBAP/KLIF)- The City of Plano is accepting applications for the CARES Small Business Grant Program through Monday, June 22, 2020 at 11:59 PM.
In response to the economic hardships experienced by small businesses resulting from the COVID-19 pandemic, the City of Plano established a grant program funded through the Coronavirus Aid, Relief, and Economic Securities Act (C.A.R.E.S.). The CARES Small Business Grant Program is an effort to retain jobs and stabilize local businesses, by providing gap financing for those who have lost revenue as a result of social distancing and are at-risk of layoffs or closure.
The Program will use $5 million of C.A.R.E.S. Act funding, received by Collin County, to provide grants of not less than $5,000 and up to $25,000 to for-profit Applicant Businesses with 100 or less employees. Businesses must be physically located within the Collin County portion of the Plano city limits and demonstrate a loss of gross revenue of 25% or more as a result of the pandemic to be considered for funding.
Grant money may only be used for rent or mortgage payments and utilities including electric, gas telephone, cable and internet provider, exclusive of property taxes, sales taxes and franchise fees. Water drainage and trash services paid to the City of Plano will not be eligible for reimbursement.
Grant applications are not awarded on a first come, first serve basis. A lottery system will be used for random applicant selection and will select at least 200 businesses.
You can apply here.
