The City of El Paso Small Business COVID Grants Program will provide financial support in the form of $10,000 grants to small business owners and nonprofit organizations that have been impacted by the pandemic.
Donor Name: City of El Paso
State: Texas
City: El Paso
Type of Grant: Grant
Deadline: 05/31/2023
Size of the Grant: $10,000
Details:
The program, funded by the City of El Paso and administered by LiftFund, has dedicated $2,400,000 Million in funding to support local small businesses and nonprofits with grants.
Funding Information
Eligible small businesses and non-profits may receive $10,000. The funds must be used for business-related expenses, including payroll, working capital, business rent, inventory, supplies, equipment, and other operating costs.
The following limitations apply:
- Applicants are eligible to receive only one grant award
- Only one grant may be awarded per business or organization with more than one location
- Limited to one grant per physical address within the City of El Paso
Eligibility Criteria
- 2020 gross sales between $10,000 and $1 million. Gross sales are based on Line 1 of Schedule C or Line 1a of 1120, 1120S or 1065.
- Experienced a loss in gross sales or net profit/loss between 2019 and 2020 or between 2019 and 2021. Gross sales are based on Line 1 of Schedule C or Line 1a of 1120, 1120S or 1065. Net profit/loss is based on Line 29 of Schedule C, Line 21 of 1120-S, Line 30 of 1120, or Line 22 of 1065.
- Operating prior to January 1, 2020. “Operational” is defined as a positive amount of gross sales on the 2019 filed tax return (Line 1 of Schedule C or Line 1a of 1120, 1120S or 1065). If a business began in 2019 and was not operating the full year, 2019 gross sales and net profit/loss will be compared to a pro-rated amount of gross sales and net profit/loss in 2020 and 2021 to determine negative impact.
- Currently in operation and in good standing with the Texas Comptroller’s office, if applicable.
- Located within the City of El Paso.
- Not be in the following categories: gambling/gaming businesses; franchisors; sexually oriented businesses; payday lenders; real estate investment.
- Applicant must be authorized representative of business
For more information, visit Small Business COVID Grants.