SMALL BUSINESS GRANT PROGRAMS TO LAUNCH FOR FRISCO BUSINESSES
FRISCO, TEXAS (June 18, 2020) – Two small business grant programs are launching for Frisco Collin County- and Denton County-based businesses. These small business grant programs are designed to assist businesses that experienced financial hardships due to COVID-19.
“These small business grants from Frisco, Collin and Denton Counties are a way to help sustain our economy,” said Frisco Mayor Jeff Cheney. “Many of our business have expressed the need for assistance, and we hope by getting the funds to these companies quickly, our city’s economy will remain strong.”
For Frisco Collin County-Based Businesses:
Beginning June 24, the City of Frisco will launch an economic recovery program for small Frisco businesses (less than 100 employees and less than $15 million in annual revenue per location) located in Collin County that have been impacted by COVID-19. The $3.1 million funding for the program, known as the Frisco/Collin County Small Business Grants Program (SBGP), is provided by Collin County as part of the CARES Act, which was signed into law earlier this year. The City of Frisco has engaged the National Development Council (NDC) as a third-party administrator to manage the application process and disbursement of funds to grant recipients as approved by the City of Frisco.
Applications for Frisco/Collin County SBGP will open on Wednesday, June 24 at noon and be accepted until Tuesday, June 30 at noon. Based on financial hardship and the percentage of closure, businesses are eligible to receive up to $50,000, must meet eligibility requirements and must operate in the Collin County portion of the City of Frisco. Some of the allowable expenses are rent, utilities, contract labor, payroll and more. A complete list of criteria, eligibility requirements and program details can be found here. The application will be live at the same link beginning June 24 at noon.
Grant recipients for the Frisco/Collin County program will be notified by NDC in early July. Funds are expected to be dispersed by mid-July.
The Frisco/Collin County program is similar to programs being launched in Allen, TX and McKinney, TX, both also located within Collin County. Teams from the three cities have been collaborating to develop programs that are substantially similar in scope and disbursement. This tri-city collaboration is designed to help minimize the economic hardships experienced by Collin County businesses as a result of COVID-19.
For more information about the Frisco/Collin County program, click here or visit https://ndconline.org/ntxsmallbiz/city-of-frisco. For application questions, call (toll free) 1-833-696-0804 or email ntxsmallbiz@ndconline.org. Please leave a message and you will be contacted within one business day.
For Frisco Denton County-Based Businesses:
For Frisco businesses located in Denton County, information about Denton County OPEN can be found here. Applications for Phase II of Denton County OPEN will be accepted June 22 – July 6. Denton County will manage the OPEN Phase II application process and dispersal of funds as they did for Phase I.
For information about Denton County OPEN, visit https://dentoncounty.gov/open or call 940-349-4280.