Town News

Apply Now- Two New Frisco Business Assistance Grant Programs

Updated January 13, 2021 at 1:15pm
First published December 26, 2020 at 7:11pm

Re­-Establishing Economic Relief Programs in Response to the COVID-­19 Public Health Emergency

In the spring of 2020, Frisco Town Council swiftly established a Business Assistance Grant Program in response to the economic crisis brought on by the COVID-19 pandemic. The summer season saw a decrease in numbers due to the hard work of residents and businesses, as well as the ability of some businesses to move operations outdoors. As COVID-19 numbers increased steeply in the late fall of 2020, Public Health Orders crafted in response to slow the spread of COVID-19 closed or limited many indoor business operations. Subsequently at the December 8th Frisco Town Council meeting, Town Council asked staff to conduct a business impact survey to gather feedback from local businesses in order to launch a second business assistance program, which would strategically support those businesses with the most need.

Data from that survey, as well as staff analysis, provided Town Council with the information that they needed to thoughtfully arrive at the second business assistance program of 2020. During a special Town Council meeting on December 21, Town Council approved an emergency resolution, which dedicated a total of $500,000 to two grant programs, the Frisco General Business Assistance Grant Program and the Frisco Business Innovation Grant Program.

Application Process

  • Businesses may apply for both grants if eligible.
  • The application process has been made as simple as possible so businesses are able to fill out these applications independently using information and documents typically available in the normal course of business, and a guide to key information needed for each application is included below.
  • Businesses must submit applications on or before 11:59pm on January 31, 2021 with grants being dependent on funding availability. During the January 12, 2021 Town Council meeting, Council asked staff to return to the January 26, 2021 Town Council meeting with an amendment to the grant program resolution, which would extend the Innovation Grant application deadline, which is currently January 31, 2021, to encourage businesses to continue to innovate due to changing COVID-19 conditions and seek reimbursement through the Frisco Innovation Grant program. The date of the extended deadline has not yet been confirmed.
  • Grants may be taxable. Please consult with your tax advisor/accountant for more information.
  • While filling out the application on Survey Monkey Apply, please save your work continually rather than just submitting the application. This will ensure that you can pick up in the process where you left off. 

Frisco General Business Assistance Grant Program

Frisco Town Council acknowledges that some businesses have been more severely impacted than other businesses throughout this pandemic, and therefore, the General Business Assistance Grant is a tiered program designed to help businesses who need the most support. Grant funding is based on loss of gross revenue or sales from January 1, 2020 through November 30, 2020, as compared to the same time frame in 2019, and rent or mortgage amounts.

Businesses that have incurred:

  • Less than 15% loss of gross revenue or sales are not eligible
  • 16% – 20% loss of gross revenue or sales may receive up to $2500 or 2x monthly rent/mortgage (whichever is less)
  • 21% – 25% loss of gross revenue or sales may receive up to $5,000 or 2x monthly rent/mortgage (whichever is less)
  • 26% – 30% loss of gross revenue or sales may receive up to $7,500 or 2x monthly rent/mortgage (whichever is less)
  • 31% or greater loss of gross revenue or sales may receive up to $10,000 or 2x monthly rent/mortgage (whichever is less)

Eligibility – To be eligible to receive a grant under the General Business Assistance Grant Program, the business:

  • Must have had its operations severely limited by having been prohibited in sales or service to the public, or prohibited or severely limited from onsite consumption of foods or beverages, by one or more of the public health orders issued in connection with COVID-19
  • Must have a current, valid Town business license issued on or before March 1, 2020; be current in sales tax remittance to the Town of Frisco; and still be in operation as of the date of the grant award
  • Must be located within the Town of Frisco jurisdictional boundaries; short-term rental property owners are not eligible to apply; short-term rental property management companies with a physical business office located within the Town of Frisco are eligible to apply
  • May not be
    • a publicly traded corporation
    • owned by, controlled by, or a subsidiary of a publicly traded corporation
    • an entity that has more than $2,500,000 in annual gross revenues
    • owned by, controlled by, or a subsidiary of any such entity
  • Must be able to demonstrate a decline in gross sales or revenue between January 1, 2020 to November 30, 2020 as compared to January 1, 2019 to November 30, 2019 as certified and approved by the Town of Frisco through reported gross sales receipts, and/or a Town-approved affidavit affirming gross revenues
  • Must have at least ONE employee currently employed, which may include the owner/manager if the owner/manager works in the business as an employee
  • Must submit a Town-approved application on or before 11:59pm on December 30, 2020 for priority review, but applications will be accepted and reviewed on an ongoing basis through January 31, 2021 with grants being dependent on funding availability

Be Prepared- Key Information Needed to Fill Out the General Business Assistance Grant Application in Order to be Eligible to Receive a Grant

  • Completed and signed W9 Form
  • An understanding that the business’ gross revenue or sales decreased by more than 15% from January 1, 2020 to November 30, 2020 as compared to January 1, 2019 to November 30, 2019
  • Gross revenue or sales amounts for-
    • January 2019 – October 2019
    • November 2019
    • January 2020 – October 2020
    • November 2020
  • Lease or Mortgage Information-
    • A lease, rental invoice, or mortgage statement, which clearly lists the current monthly amount paid along with the physical address listed in the application for the business, will need to be uploaded.
    • Bank statements, canceled checks, transfer receipts, and similar general banking documents CANNOT be accepted as documentation of the monthly rent or mortgage payment amount.
    • For businesses operating out of their primary home, the term “mortgage or rent” will be calculated on a pro rata basis, as declared by the business on their 2019 federal tax return submitted to the IRS.
  • Account information if direct deposit of grant funds is preferred
Applications for the Frisco General and Innovation Business Grants

Frisco Business Innovation Grant Program

Town Council approved the Business Innovation Grant Program to support businesses, which have made innovative investments during the COVID-19 pandemic and pivoted quickly to adapt to public health orders. The Innovation Grant offers up to $5,000 per business as reimbursement of expenses incurred for structural and/or technical improvements.

Eligibility- To be eligible to receive a grant under the Business Innovation Grant Program, the business:

  • Must have a current, valid Town business license issued on or before October 1, 2020; be current in sales tax remittance to the Town of Frisco; and still be in operation as of the date of the grant award
  • May not be
    • a publicly traded corporation
    • owned by, controlled by, or a subsidiary of a publicly traded corporation
    • an entity that has more than  $2,500,000 in annual gross revenues
    • owned by, controlled by, or a subsidiary of any such entity
  • Must be a business with a physical location within the Town of Frisco jurisdictional boundaries and within the Town’s commercially zoned areas (not residential areas)
    • Virtual and remotely operating businesses are not eligible to apply
    • Short-term rental property owners are not eligible to apply
    • Short-term rental property management companies with a physical business office located within the Town of Frisco are eligible to apply
  • Must be able to demonstrate expenses incurred due to COVID-19 for innovative and adaptive measures implementing structural and/or technical improvements (e.g.: outdoor dining structures, improved air filtration systems, new/improved no-touch features for customers, improved technology modifying business operations to meet public health constraints, etc…)
    • Operational expenses are excluded- such as but not limited to cleaning and sanitation supplies, expenses for cleaning, etc…
  • Must submit a Town-approved application on or before 11:59pm on January 31, 2021 with grants being dependent on funding availability. During the January 12, 2021 Town Council meeting, Council asked staff to return to the January 26, 2021 Town Council meeting with an amendment to the grant program resolution, which would extend the Innovation Grant application deadline, which is currently January 31, 2021, to encourage businesses to continue to innovate due to changing COVID-19 conditions and seek reimbursement through the Frisco Innovation Grant program. The date of the extended deadline has not yet been confirmed.

Be Prepared- Key Information Needed to Fill Out the Business Innovation Grant Application in Order to be Eligible to Receive a Grant

  • Completed and signed W9 Form
  • Description of and amount spent on structural and/or technical improvements in response to COVID-19. Please report all eligible and incurred expenses even if greater than the $5,000 grant limit, as further grants may be considered if fund availability allows.
  • Scanned or photographed copies of all receipts and invoices for ALL eligible and incurred expenses described. Please ensure that purchase dates are visible and highlight eligible expenses if receipts or invoices include other expenses. Canceled checks, bank statements and/or estimates cannot be accepted.
  • Account information if direct deposit of grant funds is preferred
Applications for the Frisco Innovation and Business Grants

Missed the December 21 Special Town Council Meeting?

Watch a Recording of the December 21, 2020 Special Town Council Meeting

Questions?

If you have questions, please email.