City, County to Provide Financial Relief to Small Businesses
Huge news for local businesses.
In a press release announced today:
The City of San Angelo and Tom Green County are partnering with PeopleFund to provide grants of $5,000 to $15,000 to eligible small businesses impacted by the COVID-19 crisis in San Angelo. Learn more about the San Angelo CARES program at peoplefund.org/sanangelo.
Applications will be accepted from Feb. 1 to March 15.
The City of San Angelo and Tom Green County are each providing funding to the San Angelo CARES Small Business Grant Program from the Coronavirus Aid, Relief and Economic Security Act (CARES).
Eligibility & Documentation Required:
- Applicant must be registered with the Secretary of State of Texas as a valid business on or before January 1, 2020.
- Businesses must be located in Tom Green County.
- Applicant shall demonstrate either a total 2020 annual net income under $100,000 but no less than $5,000 or a reduction in revenue of at least 15% since March 2020 that was a result of the COVID-19 pandemic. Documentation can include tax returns, financial statements, and other financial and employment data, including IRS form 941.
- Application must provide signed IRS W-9 form and a business TIN, EIN or SSN.
- Applicant must verify that they are not involved in any litigation against the City of San Angelo.
- Applicant must verify that as of March 2020 they were not in arrears on any existing Agreement nor defaulted on a previous Agreement with the City of San Angelo.
- Applicant must verify that they are not debarred, suspended, terminated, or otherwise excluded from (or ineligible to) transact with a federal, state, or local government entity or agency.
- Applicant must verify that as of March 2020 they were not delinquent on taxes due to the City of San Angelo.
Grants will be awarded by the following:
- Total annual revenue of $0- $250,000 is eligible for a $5,000 grant
- Total annual revenue of $250,000 – $500,000 is eligible for a $10,000 grant
- Total annual revenue of $500,000-$1,000,000 is eligible for a $15,000 grant
These are all straight from the People Fund website.
COVID hit the community and nation hard, we know this is not going to fix everything. But we hope it's a start towards good things.
Have you downloaded our free station app yet, it's the best way to keep up with us.