Downtown Fort Worth
Of the $158 million received from the federal CARES Act, the City of Fort Worth is allocating $10 million for small businesses.
The city is partnering with United Way of Tarrant County to distribute the grants as part of the Preserve the Fort program. Applications opened Tuesday and will close on June 8.
Of the $10 million, $2.5 million go toward minority-owned businesses, while another $2.5 million will support companies located in the city’s Neighborhood Empowerment Zones and Designated Investment Zones, predominantly low-to-moderate income areas as identified by the city.
According to a news release, businesses that apply must fit the following criteria:
- Small business (250 employees or less)
- Located within the city of Fort Worth, with a Fort Worth mailing address
- Registered to do business in the State of Texas
- Business must have been in operation since Sep. 1, 2019.
- Self-employed individuals, independent contractors, sole proprietors, and nonprofits serving the business community are also eligible.
Priority will also be given to businesses that have not received funding from the Paycheck Protection Program or an Economic Injury Disaster Loan. However, businesses that have received such funding will still be considered.
Additionally, the city will grant funds based on the number of full-time staff a business employed as of March 17.
- Micro-enterprises with less than five employees are eligible for a grant of $5,000.
- Level I businesses (with 6 – 25 employees) are eligible for a grant of $7,500.
- Level II businesses (with 26 – 50 employees) are eligible for a grant of $10,000.
- Level III businesses (with 51 – 250 employees) are eligible for a grant of $50,000.
The Fort Worth Chamber of Commerce, the Fort Worth Hispanic Chamber of Commerce, and the Fort Worth Metropolitan Black Chamber of Commerce will assist with processing the grants.
More information can be found on the city's website.
