Seagoville COVID-19 Stimulus Program
Program Purpose: Utilizing CARES Act funds, the City of Seagoville is launching the Seagoville COVID-19 Stimulus Program for businesses located within the City of Seagoville that experienced reductions in sales, workforce and/or businesses revenue due to COVID-19 and that are in need of financial assistance to continue to operate or to be able to reopen as allowed by law during the crisis. Up to a $25,000 grant per business will be awarded for eligible businesses that have experienced a gross revenue loss of greater than 25% due to the COVID-19 pandemic. Qualified businesses with 0-10 full-time or full-time equivalent employees may receive up to $5,000 for eligible reimbursable expenses, while businesses with 11-50 full-time or full-time equivalent employees may receive up to $25,000 for eligible reimbursable expenses. Per Internal Revenue Service guidance, these grants are taxable.
Application Dates: The application will open at 12 pm on September 18, 2020 and close on 12pm on October 16, 2020.
Link to the Pre-Application: https://zoomgrants.com/gprop.asp?donorid=2355&limited=3091
Funding: $627,750 of Coronavirus Relief Fund funding (as provided by the CARES Act)
Definition of small business: Business with no more than 50 employees.
Type of assistance: Grant
Maximum grant amount: up to $25,000 for businesses with 11-50 full-time or full-time equivalent employees or up to $5000 for businesses with 0-10 full-time or full-time equivalent employees. The amount of the grant will be based on eligible expenses.
Maximum grant calculation: Expenses eligible for reimbursement include the following actual costs incurred from March 1, 2020 through August 31, 2020:
• Payroll (gross payroll, retirement costs, health insurance)
• Fixed Overhead Costs
• Rent, lease or mortgage for real business property paid to an unaffiliated, unrelated third party
• Rent, lease or purchase payment for business property (e.g., delivery vehicle, kitchen equipment, furniture, technology, payment and communications systems)
• Property/General Liability insurance, excluding costs of a personal residence
• Utilities, excluding personal residence
• Contract Labor
• Supplier/Material Payments, including COVID-19 related personal protection equipment and sanitation supplies
• COVID-19 related business improvements (e.g., Sanitation equipment, touchless technology, etc.)
Eligible geographic area: the City of Seagoville
General requirements:
• Business must have experienced a gross revenue loss of greater than 25% due to the COVID-19 pandemic.
• Business must have been in operation in the City of Seagoville on or before March 1, 2019.
General ineligibility:
• Businesses who previously received other government assistance for the same expenses for the same time period
• Businesses with outstanding financial obligations to the City
• Businesses without a Certificate of Occupancy (if required),
• Businesses with past due taxes owed to federal, state or local government entities, unless an approved and current payment plan exists
• Businesses not in full compliance with local ordinances
• Businesses in default or arrears on past or current federal or state financing or funding programs
• Businesses in bankruptcy or have filed for bankruptcy within the last 12 months
• Businesses ineligible or precluded from receiving federal or State of Texas funding due to federal laws, including, but not limited to, the CARES Act
• Persons or businesses with a conflict of interest.
Excluded businesses:
• Non-profit organizations
Required documents:
• All pages of either a signed business tax return or a personal tax return with a 2019 Schedule C,
• Signed, year-to-date month-by-month profit & loss statement (only required for businesses with 11-50 employees)
• Business formation documentation
• Signed W-9
• Valid Texas driver’s license or other valid form of government-issued documentation
• Signed Q1 or Q2 2020 IRS 941 (if business has employees)
• March or August payroll report (if business has employees)
• Documentation that business was operating in Seagoville on or before March 1, 2019 (such as a signed lease, dated government permits, or an older utility bill with a pre-March 1, 2019 start date)
• Any other information necessary to determine the business’s eligibility for a grant.
*Businesses that are seeking up to a $5000 grant will not be required to provide a profit and loss statement.
Status of program: The application will open at 12pm on September 18, 2020 and will close at 12pm on October 16, 2020.
Email: ntxsmallbiz@ndconline.org
RESOURCE DOCUMENTS:
City of Seagoville COVID-19 Stimulus Program Instructional Video
