Grant Program Available for Small Businesses in Temple
If you are a small business owner in Temple, there is financial help available for you.
COVID-19 has hit everybody in one way or the other. For some, it's hit them in multiple ways. Small businesses may have had it the worst. So many restrictions have been set for businesses that digging out of the financial hole is tough, even tougher for small business owners.
The City of Temple issued a press release announcing a Small Business Grant Program as part of a partnership with the United Way, the Temple Chamber of Commerce and the City of Temple.
Stephanie O’Banion, United Way CEO says,
“The primary goal of the program is to provide support so that businesses can retain jobs held by low to moderate income persons. We are also hoping to provide assistance to microenterprises with low to moderate income owners. We know that these businesses are vital to the economic health and well-being of our community.”
This Program is set up to provide gap financing for small businesses that have seen a loss in revenue and are at-risk of layoffs or closure as a result of social distancing and other COVID-19 business effects. The program is funded through the U.S. Department of Housing and Urban Development’s Community Development Block Grant – Coronavirus (CDBG-CV) funds and will help small businesses with grants up to $5,000 to businesses with up to fifty (50) full-time equivalent employees at the time of application, or up to five (5) full-time equivalent employees with a low to moderate income owner. The business must demonstrate a loss of gross revenue as a result of the COVID-19 pandemic to be considered for funding.
For more information about this program, contact the United Way by calling 211 or visiting www.uwct.org.