A second round of CARES Act grants was approved at the last Fort Bend County Commissioners meeting. The forgivable funds will be available for small businesses in amounts up to $25,000 USD.
The CARES Act fund was established to help small businesses struggling due to the COVID-19 crisis. The funds must be spent by the end of the year.
The grants are aimed to help companies pay for personal protective equipment, reopen supplies, equipment and renovations, inventory, utilities, remote work expenses, leases and payroll to bring employees back to work. The fund can also be used for reimbursement of mortgage payments, rent and payroll.
“We will work side by side to keep people employed, distribute necessary goods and services, ensure best practices for social distancing and sanitary workspaces, and direct the federal and state funding streams as quickly as possible,” Fort Bend County Judge KP George said in a letter to business last summer.
In order to apply for the grant the company must be for profit, its main place of business has to be in Fort Bend County and its annual 2019 revenue needs to be below $25,000 and under $5M.
In addition, the businesses should employ 1 to 50 people, and their earnings must be significantly impacted by the COVID-19 pandemic.
Furthermore, although there is no credit score requirement, applicants must be in good standing with the state of Texas, something that will be verified by a FICO score.
If you wish to apply for a grant, you can do it on Fort Bend County’s website.