CARES Grant Program
Applications will be accepted from Monday, June 15, 2020 at 8:00 AM through Monday, June 22, 2020 at 11:59 PM. The application period of the program is now closed.
In response to the economic hardships experienced by small businesses resulting from the COVID-19 pandemic, the City of Plano has established a CARES Small Business Grant Program (“Program”) in an effort to retain jobs and stabilize local businesses. This Program provides gap financing for businesses that have lost revenue as a result of social distancing and are at-risk of layoff(s) or closure. The Program is funded through the Coronavirus Aid, Relief and Economic Security Act (“C.A.R.E.S. Act”).
The Program will use $5 million of C.A.R.E.S. Act funding, received by Collin County, to provide grants of not less than $5,000 and up to $25,000 to Applicant Businesses with one hundred (100) or less full-time equivalent (FTE) employees at the time of application. The Applicant Business must demonstrate a loss of gross revenue of 25% or more as a result of the COVID-19 pandemic to be considered for funding.
Applications will be accepted from Monday, June 15, 2020 at 8:00 AM through Monday, June 22, 2020 at 11:59 PM via the City’s ZoomGrants portal. Due to the anticipated number of submissions and limited funding, applications will be chosen via a lottery system.
• For-profit businesses with 100 or less FTE employees at the time of application submission may apply.
• Eligible applicants must be located in Plano and operate out of a physical location within the Collin County portion of the Plano city limits. This will be verified through a review of the Certificate of Occupancy as granted by the City of Plano, Secretary of State’s Franchise Tax Account Status or Certificate of Formation or tax documents as applicable.
• Applicant Business must demonstrate 25% or more loss of gross revenue due to the COVID-19 pandemic.
• Applicant Business must have been operating for a minimum of two (2) years from the date the application is due.
• Recipients of these funds must be eligible to work in the United States. Under Chapter 2264 of the Texas Government Code requires that each business that submits an application to receive a public subsidy include in the application a statement certifying the business, or a branch, division, or department of the business, does not and will not knowingly employ an undocumented worker.
• Owner must be 18 years or older.
• Applicant Business has a valid Employer Identification Number (EIN) and provide an IRS form W-9.
• Applicant Business is not currently in bankruptcy and has not filed bankruptcy in the past 12 months.
• Applicant Business is current with property taxes and City fees, or has a payment plan in place with County and/or City as of April 30, 2020.
Ineligible businesses include businesses restricted to patrons above the age of 18, sports teams, payday and title loan businesses, franchises/chains that cannot provide proof of independent ownership, pawn shops, firearm or other weapons dealers, passive real estate investments, non-profit or home-based businesses.
Duplication of Benefits
Businesses may not receive federally-subsidized disaster assistance that duplicates any part of their disaster loss covered by insurance or another source, such as the Small Business Administration (SBA) or the Federal Emergency Management Agency (FEMA). Applicants for City of Plano grant funds under the CARES Small Business Grant Program must disclose any funds applied for or received from these sources or other federal assistance programs. It is in the City’s sole discretion to determine if funds received from any of these sources constitutes a duplication of benefits. Grants under this Program will be provided in an amount not to exceed the level of need. If a duplication of benefits determination is made after City of Plano funds have been disbursed, the amount of funds that were determined to be duplicative must be repaid to the City.
For further questions, please email firstname.lastname@example.org or call 972-208-8304.