The Collin CARES Small Business Grant Program will provide up to $25,000 for qualifying companies that had gross revenue losses of more than 15% because of the coronavirus pandemic.
Collin County commissioners voted unanimously Sept. 14 to declare health care providers, attorneys and hotels as entities eligible for the grant. Commissioners discussed how these three groups had been restricted from receiving these grant funds and made a recommendation to include these groups instead.
The grant program initially launched Sept. 4, and within the first hour, it drew more than 375 requests, according to a Collin County news release. Commissioners set aside $15 million in CARES Act funding for the grants. The program will continue to accept online applications through Sept. 25. It allows businesses to receive between $5,000 and $25,000, as long as the business can document its incurred costs.
Eligible expenses include payroll; fixed overhead costs, such as rent; utilities; contract labor; payments for materials or to suppliers; and COVID-19-related business improvements, such as personal protective equipment, sanitation supplies or other equipment.
Additional details on qualifying for the grants will be posted on the Collin CARES website.
Commissioners adopted the Collin CARES recovery plan May 11 with the goal of assisting families and individuals affected by the coronavirus pandemic.
Additional reporting by William C. Wadsack