The City of Houston has begun accepting applications for its recently announced $15 million Small Business Economic Relief Program (SBERP) with the application period running until September 4. The program is funded through the federal CARES Act and does not have to be repaid.
Eligible businesses can receive grants of up to $50,000 and these funds can be used for operating expenses such as payroll, accounts payable, rent, mortgage, personal protective equipment (PPE) for employees and marketing strategies alternatives.
These grants will not be distributed on a first-come, first-serve basis. A weighted scoring matrix will be used to ensure the equitable distribution of grant funds. Applications will be prioritized based on several factors including geography, employee makeup, access to capital challenges, years in business and demonstrated resiliency.
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To be eligible, a business must be located within the City of Houston, must have been in business for at least one year, must provide evidence of how business revenue has been impacted by COVID-19 and have had $2 million or less in gross annual business revenue pre-COVID-19.
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