Updated June 22, 5:00 p.m.
All new information is bolded.
Flower Mound and Denton County Response
Open for Business Grant Program, Phase 2 (Now accepting applications)
- $20+ million available for grants
- Accepting applications noon Monday, June 22, 2020 through noon Monday, July 6, 2020
Phase II of the Open for Business Grant Program contains funds directly dedicated to Flower Mound businesses and offers expanded benefits and eligibility from the original Phase Program! Don’t miss this opportunity to claim your grant!
This small business grant program offers up to $50,000 grants to qualifying Denton County businesses who have experienced a negative financial impact during the COVID-19 pandemic. For-profit businesses headquartered and located in Denton County with 100 or fewer full time employees are eligible to apply. The amount a business can receive will be based on the documented negative financial impact of COVID-19 between March 1, 2020 and June 20, 2020.
Denton County is dedicating a portion of the stimulus money received from the US Department of Treasury under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) to the Denton County OPEN program to benefit Denton County businesses impacted by COVID-19.
Additional information is available at dentoncounty.gov/open. Questions about the program can be answered by calling 940.349.4280 from 8 a.m. to 5 p.m. Monday through Friday or via email at OPENgrants@dentoncounty.gov.
- Grants awarded will be up to $50,000.
- Individual grants will be awarded based on calculating the negative financial impact due to COVID-19. This may include not only lost revenue due to COVID-19, but also expenses related to implementing new equipment and protocols in your business to meet the CDC guidelines for safety.
- Business started before May 1, 2020
- 100 Employees or fewer
- No more than $15 Million in Gross Annual Revenue
- If an owner has more than one business, the owner is eligible for application for up to three businesses (all businesses must be located in Denton County). Ownership defined as 20% or more. The application must include a disclosure of all 20% or more owners.
- Applications and required documentation will be reviewed by assigned Denton County Auditors based on Commissioners Court approved Denton OPEN Grant Program Guidelines. The applicant will receive an email indicating Denton County OPEN Program approval or denial or did not meet qualifications.
- Checks will be issued to qualifying applicants by Denton County Accounts Payable.
- Applicant must have no outstanding Denton County tax liens or judgments
- The application will be open from noon Monday, June 22 at 12 p.m. CST to Monday, July 6, at 12 p.m. CST.
- A business receiving grant funding may be notified via email.
- Denton County is a governmental body subject to the Texas Public Information Act. Information you submit to Denton County in this application may be subject to the Act and, therefore, subject to public release.
Types of Businesses
- Corporation, Individual, Sole proprietorship, Single-member limited liability company (LLC), LLC treated as a partnership, LLC – C corporation, LLC – S corporation, Partnership
Eligible Uses of Grant Proceeds
- Payroll costs for employees or owners draw (sole proprietors/partners)
- Contract labor
- Supplier payments
- Rent, lease or interest on mortgage payment (for real property used for business purposes, like storefront or warehouse, excluding personal residence.)
- Rent, lease or purchase payment for business property (e.g., delivery vehicle; food truck; kitchen equipment; technology, payment, and communications systems and equipment)
- New or expanded technology applications and Wi-Fi services
- Utility payments for business properties, excluding personal residence.
- Cost of critical business operations (raw materials, marketing expenses, etc. payments)
- PPE and sanitation supplies and equipment
- Interest on other business debt obligations incurred before March 1, 2020, excluding personal residence.
- Documentation of business (Choose one of the following):
- Secretary of State Texas File number;
- State of Texas License number; DBA, 2018 or 2019 tax return (return only, schedules not required);
- Social Security Number, Employer Identification Number or Individual Taxpayer Identification Number, Certificate of Filing.
- If sole proprietor, please provide documentation on when you started your business. Ex. Include Occupational license, Sales Tax Certificate
- Drivers’ license or state-issued ID
- Most recent filed business tax return, if applicable
- Most recent payroll report and number of employees – 1st QTR 941 for 2020, if applicable
- Bank and income statements from January 1, 2020, to May 31, 2020. (If opened between January and May 2020, provide all requested statements for the life of the business. If a new business was never opened due to COVID-19, please include all losses including, but not limited to, rent, utilities, payroll, etc.)
- Submit documentation for proof of fund uses by February 15, 2021, including Form W-3, Form 941, utility statements, canceled checks/receipts or bank statements
- For Sole Proprietor, applicants provide 2018 or 2019 Schedule C
- Form W-9
Council provided direction to staff to temporarily pause the enforcement of signage regulations in order to help businesses during this declared disaster.
Businesses may temporary add the following type of signs to their businesses:
- Signs in the parkway as long as visibility is not compromised
- Flashing or blinking “open” signs
- Banners on buildings or on stakes in the ground
- Window signs to attract business or provide instructions for customers
Enforcement is still in effect for the following:
- Permanent signs (still require permit and must comply with current regulations)
- Inflatables (only allowed with valid “Grand Opening” permit)
- No signs in the medians of public right-of-ways
State Response and Resources
- The Texas Comptroller understands the tremendous strain the pandemic and its related closures have placed on businesses throughout our state. We’re grateful that virtually all of our taxpayers are doing their best to remain in compliance with Texas tax requirements, and we want to ease this burden whenever possible.
- Franchise Taxes - To aid Texas franchise taxpayers, the due date to file and pay 2020 Texas franchise tax reports has been extended to July 15, 2020.
- Sales Taxes – For businesses struggling to pay the full amount of sales taxes, The Comptroller’s Office is offering short-term payment agreement and, in most instances, waivers of penalties and interest.
- Please visit their COVID-19 emergency response webpage for access to their online tools, tutorials, other tax service resources, and to establish 24/7 online account access with Webfile.
- In response to the impact of COVID-19 on Texas businesses, the Governor’s Office has introduced a series of small business webinars to provide the business community with timely, relevant, and actionable information on the recovery resources such as the Paycheck Protection Program, EIDL Loan Advance, SBA Express Bridge Loan, and SBA Debt Relief. More information can be found here.
- Specific requirements for Texas Licensed Child Care facilities
National Response and Resources
The following is a list of the more well-known programs providing financial assistance to businesses; however, it is recommended that businesses also check with their particular business associations (i.e. National Restaurant Association, National Retail Federation, etc.), as a variety of new grant programs have recently been established in an effort to assist businesses impacted by the COVID-19 pandemic.
COVID-19 "Business for All" Grants: To ensure "Business for All," Hello Alice with the support of Verizon, Silicon Valley Bank, Ebay and others, is offering $10,000 emergency COVID-19 "Business for All" Grants that will be immediately distributed to small businesses impacted by the pandemic. More information can be found at https://businessforall.helloalice.com/.
Paycheck Protection Program (PPP): The PPP (through the SBA and Dept. of Treasury) provides small businesses with a loan to pay up to 8 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities. Small businesses and eligible nonprofit organizations, Veterans organizations, Tribal businesses described in the Small Business Act, and individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards. These loans can be forgiven if businesses maintain payroll for eight weeks at employees’ normal salary levels and use the loan proceeds for qualifying expenses. More information can be found at PPP or in the frequently asked questions document. The loan application form can be accessed here and should be submitted to a businesses’ SBA Participating Lender.
Specific to Texas businesses, Governor Abbott, Goldman Sachs, LiftFund and other community development financial institutions (CDFIs), are partnering to provide $50 million in loans to small business in Texas. Business owners can access these fund through application for a Paycheck Protection Program Loan. More information can be found online.
Economic Injury Disaster Loan (EIDL) and Loan Advance: Effective June 15, 2020, the SBA is accepting new Economic Injury Disaster Loan (EIDL) and EIDL Advance applications from qualified small businesses and U.S. agricultural businesses. More information can be found at EIDL.
Small Business Administration (SBA) Express Bridge Loans: The SBA Express Bridge Loan enables small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loan or used to bridge the gap while applying for a direct Economic Injury Disaster Loan. More information can be found at SBA Express Bridge Loans.
SBA Debt Relief: The SBA is providing a financial reprieve to small businesses during COVID-19, with the SBA paying the principal, interest, and fees of current 7(a), 504, and microloans for a period of six months. The SBA will also provide this same relief on any new 7(a), 504, and microloans issued prior to September 27, 2020. More information can be found at SBA Debt Relief.
Employee Retention Tax Credit: The Employee Retention Tax Credit (through the IRS) program provides a 50% tax credit for businesses that is applied against your portion of payroll taxes. It is for businesses that have had to partially suspend their operations and/or experienced a decline in gross receipts by more than 50% in a quarter. More information can be found at Employee Retention Tax Credit.
Main Street Lending Program: The Main Street Lending Program is available to businesses with fewer than 10,000 employees and revenue less than $2.5 billion a year (small and medium-sized businesses). Loans ranging in size from $500,000 to $25 million are available through any FDIC-insured depository institution. More information can be at Main Street Lending Program and Main Street Lending FAQ.
Federal Income Tax Filing and Payment Deadline Extension
The federal tax return filing deadline is now July 15, 2020. For tax payments of up to $10 million, the IRS has also extended the deadline for both individuals and businesses to July 15, 2020. Estimated tax payments for 2020 originally due on April 15 will now be due on July 15.