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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 2, 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 2, 2020.

Email: ntxsmallbiz@ndconline.org

RESOURCE DOCUMENTS: Coming soon!

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