Small Business Grant Program
Time & Location
About the Event
Visit the North Texas Small Business Assistance website to learn more and apply. Very Short Application Deadline. Apply Now!
Purpose: The City of Frisco is launching the Frisco/Collin Small Business Grant Program (Frisco/Collin SBGP) for businesses physically operating within the Collin County portions of Frisco. The goal of this program is to help the businesses that have been negatively affected and suffered economic hardship due to business closure during the COVID-19 pandemic.
Link to Application: COMING SOON—Application will open Wednesday, June 24, 2020 at 12 p.m and will close on Tuesday, June 30, 2020 at 12 p.m.
Funding: $3.1 million of Coronavirus Relief Fund funding (as provided by the CARES Act)
Definition of small business: Business with no more than 100 employees and annual revenue of no more than $15 million.
Other eligibility requirements: Business must be a for-profit business with physical operations (Storefront/Office) located in the incorporated boundaries of the City of Frisco that are within Collin County. Business must be current in the payment of county and local taxes with no liens. Business must have been in operation on or before March 1, 2019.
Type of assistance: Grant
Maximum grant amount: $50,000
• Business operations completely closed can get up to 100% of eligible grant. • Business operations partially closed can get up to 75% of eligible grant.
Maximum grant calculation: 3 months of estimated expenses for payroll and fixed costs from March 1 to May 31, 2020.
Payroll: includes: gross payroll, retirement costs and health insurance costs
Fixed costs: include: rent, lease or mortgage payment for real and business property that is paid to an unaffiliated/unrelated third party, utilities, and property/general liability insurance excluding costs of your personal residence.
Eligible uses of grant funds: Payroll costs for employees or owners draw (sole proprietors/partners); contract labor; supplier payments; rent, lease or interest on mortgage payment for real property used for business purposes, like storefront or warehouse, excluding personal residence; rent, lease or purchase payment for business property (e.g., delivery vehicle; food truck; kitchen equipment; furniture, technology, payment, and communications systems and equipment); insurance (Health, Payroll, Property/General Liability); new or expanded technology applications and Wi-Fi services, utility payments to include municipal utilities (water, sewer, trash) for business properties, excluding personal residence; cost of critical business operations (raw materials, marketing expenses, etc. payments); PPE and sanitation supplies and equipment; interest on other business debt obligations incurred before March 1, 2020, excluding personal residence.