The City of Sulphur Springs approved a COVID-19 Small Business Assistance Program for local businesses at their regular meeting on Tuesday night.
The program will provide $2,500 for up to 88 businesses. The city is using 25% of the funds they’ve been allocated from the CARES Act, the maximum allowed, to fund the grants.
Applications will be reviewed on a first come, first served basis. Grants will be approved until funds are exhausted or the program is ended by City Council.
To be eligible businesses must meet the following requirements:
Must have more than 1 employee but less than 50 and not be a publicly traded company.
Must be a considered a retail, food, or general service industry from a sales tax perspective. Will be verified by the NAICS code listed on the Texas Sales and Use Tax Permit. Grants will be provided to businesses with a NAICS code beginning with
44, 45, 71, 72, or 8121.
Must have been in business within the City on or before December 13, 2019 and be in a fixed facility (brick and mortar) location in City limits. Business address must be commercially zoned or classified.
Must be in good standing with the City of Sulphur Springs with respect to taxes, fees, utility payments and other financial obligations to the City.
Must indicate whether financial assistance was applied for and received from Small Business Administration or Financial Institution.
Describe how the COVID-19 pandemic has negatively affected your business and sales.
Business must submit completed application and all required documentation.
Businesses will be required to execute a 380 agreement and shall be required to remain open for at least 90 days after the disbursement of funds or will be subject to pay back the grant funds.
Publicly traded companies
Businesses are allowed to submit an application beginning on Wednesday morning at 8 am. The application has to be turned in in-person at the city water office at 125 S Davis St.
The application can be downloaded at: http://www.sulphurspringstx.org/COVID19%20Small%20Business%20Grant%20Application-%20Fillable.pdf
The full list of documents related to the program can be found here: