LUFKIN, Texas (KTRE) - Small business owners in Lufkin can soon apply for CARES Act grants to help offset revenue lost due to the COVID-19 pandemic.
Small businesses can apply for federal funding beginning Friday, July 10. Businesses that were forced to close their doors during the statewide shutdown orders in March and April will be approved for their share of $500,000 in federal grants.
Applications are open to businesses with 50 employees or less, and grants range from $5,000 to $15,000, depending on the number of employees.
”Don’t hesitate. There’s important documentation that they have to get together and have available for that application,” said Gerald Williamson, director of public safety. “If all of that information is not available for the board to review, their application won’t proceed.”
Business documents needed to complete application include:
- A completed W-9 form
- Documentation of Going Concern and Business Verification
- Proof of employment
- Profit & Loss (P&L) statement for 2019, as well as a P&L statement as of May 2020
- For sole proprietors, applicants are required to provide a 2018 or 2019 Schedule C
- Documentation of minority ownership (if applying as minority-owned)
For more information about eligibility requirements and other questions, a list of frequently asked questions is available.
Online applications will be accepted from July 10 through 5 PM on July 20. Complete applications will be reviewed as soon as they are received, as long as funds are available.
For more information about the grant funding, or to apply, please visit the City of Lufkin’s Small Business Grant Program page.