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We Prosper Together Small Business COVID-19 Relief Grant

Grants to Texas Businesses in Eligible Locations to Offset
the Financial Effects of the COVID-19 Health Crisis

Agency Type:

Local

Funding Source:

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Town of Prosper, Prosper Chamber of Commerce and Prosper Economic Development Corporation

Deadline Date:

06/05/20 4:00 PM

Description:

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Grants of up to $10,000 to Texas businesses in eligible locations for support during the Coronavirus (COVID-19) health crisis. Funding is intended to provide financial relief to local small businesses that have been affected by the pandemic. Eligible businesses must be located within the Town of Prosper.

The Town of Prosper, the Prosper Chamber of Commerce, and the Prosper Economic Development Corporation have collaborated to offer a grant for businesses located in Prosper with operations severely and negatively impacted by the COVID-19 crisis. Funds are meant to provide support to local businesses so they may once again be successful and profitable. 

Grant Award Criteria:

  • The business must have experienced severe, negative economic impact as a result of COVID-19
  • Businesses, due to the COVID-19 crisis, had the inability to pay rent or mortgages due to a lack of business resulting from mandatory closures 
  • Have increased operation costs related to COVID-19 prevention measures

Grant funds may be used for:

  • Mortgage or rent payments
  • Utilities (electric, trash, gas, water)
  • Communications/Re-entry Marketing costs (telephones related to the business, internet)
  • Gaps or shortfalls in employee wages not covered by the State of Texas or the Federal Government
  • Unexpected PPE costs

GrantWatch ID#:

GrantWatch ID#: 189815

Estimated Size of Grant:

Prosper businesses may be awarded forgivable grants up to an amount of $10,000.

Additional Eligibility Criteria:

- Must employ 25 or fewer full-time employees
- Entities that employ full time workers and no more than 25% part time workers
- Be in a commercial location within the Town of Prosper, Texas
- Be in "good standing" with the Town of Prosper
- Will maintain a physical business address within the Town of Prosper
- Demonstrate financial hardship due to the COVID-19 pandemic
- A business which has not received assistance from the Small Business Administration, CARES act, Paycheck Protection Program (PPP) or other grant programs.

Note: If the applicant did receive a federal loan or grant but has determined that the awarded amoutn was not enough due to the longetivity of restrictions to re-open, the applicant may apply for the We Prosper Together grant. Applicant must provide documentation that supports the amount of money received from the program.

Pre-Application Information:

Grant applications must be submitted between June 5, 2020.

Forms will be accepted Monday through Friday, until Friday, June 5, 2020 between the hours of 8:00 AM and 4:00 PM. Staff cannot accept applications before or after these times. A PEDC staff member will time stamp your application when you turn it into the office.

June 8 – June 10, 2020 – Applications Reviewed
The We Prosper Together Small Business COVID-19 Grant Award Committee will review and determine eligibility and award for submitted application.

June 11 – 16, 2020 – Award Announcements
Awards processed and issued (Depending upon the number of applications, award date may be extended.)

If applicant has more than one business, the owner may apply for no more than three (3) entities, each one requiring a separate application.

Contact Information:

Before starting your grant application, please review the funding source's website listed below for updates/changes/addendums/conferences/LOIs.

Applications must be submitted in person at the Prosper Economic Development Coroporation (PEDC) office located on the first floor of the FUSE Dynamic Workspace building:
130 N. Preston Road, Suite 130
Prosper, TX 75078

Potential applicants with questions about the grant process may call 972-569-1172.

URL for Full Text (RFP):

Geographic Focus:

USA: Texas: Town of Prosper

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