City of McKinney

McKinney Strong COVID-19 Home Based Business
CLOSED  Deadline  7/1/2020
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Description  [hide this]

The City of  McKinney, in partnership with McKinney Community Development Corporation, has established the McKinney Strong COVID-19 Small Business Grant Program.

McKinney Home-Based Businesses enduring economic hardship due to the COVID-19 pandemic are eligible for up to $1,000.

Award will not exceed 50% of eligible utility/communication expenses incurred from March-June 2020, up to a maximum of $1,000.

Total program funding for the McKinney Strong COVID-19 Business Grant program (includes both rounds of business applications and the home based applications) is up to $1 million.

Approved award amount may be adjusted if total eligible applications exceed the amount available for grant funding.

 


Eligible  [hide this]

Eligible Applicants for this program are home based businesses within McKinney City limits that:

  • Are Sole Proprietorships, partnerships or employ 50 or fewer Full Time Equivalent (FTE) Employees across all locations owned by applicant; OR have a weekly payroll not exceeding 2,000 hours (including salaried employees) across all locations owned by the applicant.  Independent contractors are not considered employees
  • Has endured a financial hardship due to the COVID-19 pandemic.
  • Has endured eligible utility/communication expenses from March through June of 2020.
  • Has a Business W9
  • Can provide a Schedule C or K-1 tax filing from 2018 or 2019.

An FTE is any combination of workers that together work 40 hours per week and does not necessarily equate to headcount. For example, 2 half-time (20 hours per week) workers together equal 1 FTE. Full time salaried employees = 40 hours.

Eligible Home-Based Business Expenses:

  • 50% of Utilities (water, gas, electric, trash) for March through June 2020.
  • 50% of Communication services (wireless, telephone, internet, cable) for March through June 2020.

Documentation for expenses must be uploaded as part of this application. Documentation must include copies of bills or receipts. Grant award limited to 50% of eligible expenses and capped at $1,000 total.

Hardship: Demonstrated financial hardship caused by the impact of the COVID-19 pandemic. These include, but are not limited to:

  • Employee layoffs/furloughs/reduction of hours
  • Restricted access to capital to address costs
  • Revenue decline
  • Inability to serve customers
  • Decreased customers
  • Interrupted supply/deliveries from vendors
  • Increased operating costs (due to COVID-19)
  • Forced closure due to Ordinance/Order

Proof of Hardship documentation must be uploaded as part of this application. 2 forms of hardship documentation are required

Approved Award Amount: Approved grants, in an amount not to exceed $1,000 per eligible business. The award will be based on verification of eligible business expenses. Award amounts may be reduced if total applicants and requests exceed program funding.


Additional Information  [hide this]
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