By Sonya Woods May 07, 2020 1026 views 97
97The Pittsburg Economic Development Corporation (PEDC), in conjunction with the Pittsburg City Council, has announced a COVID-19 Business Grant. Local community leaders recognize the great financial stress local business owners are experiencing and want to help provide some financial relief while local businesses consider long-term options. The grant fund totals $100,000 and provides grant awards up to $4,500 per business.
This grant can be used for a variety of things such as business rent/mortgage, utilities or maybe helping with supplies or inventory. Through the application process, the applicant will be able to identify and share the greatest need of the business, In return, PEDC pledges to make a best-faith effort, contingent upon available funds, to provide some financial assistance.
What is the PEDC COVID-19 Business Grant?
PEDC COVID-19 Business Grant is a fund, managed by the Pittsburg Economic Development Corporation. At this time, PEDC has committed $100,000 to help the businesses of the City of Pittsburg during these economically challenging times.
The Pittsburg Economic Development Corporation COVID-19 Business Grant was established to help small businesses in Pittsburg which have been impacted by COVID19 mitigation efforts. Priority will be given to businesses that have had to: close, lay off employees, limit operations to take-out, curbside or delivery or can show other direct, negative impacts that threaten the ability of the business to continue operations long-term. Applications can be submitted until 5 p.m. June 30, 2020.
To qualify for PEDC COVID-19 Business Grant must fit the following criteria
Address inside the Pittsburg city limits
Have a physical storefront which is publicly accessible (not home or online only based location)
Within a business zone (B1, B2, B3, B4, M1)
50 or less employees
Pay State and City Sales Tax
Open and generating business for at least 3 (three) consecutive months prior to March 1, 2020 (Dec 2019, Jan 2020, Feb 2020)
In good standing with the City of Pittsburg, State and Federal governments regarding licensing, taxes, fees, fines, liens, and compliance of ordinances and law prior to March 1, 2020
Engaged in activities that are legal under city and state law
Experienced or projected to experience a decline in revenue between March 1, 2020 and June 30, 2020 as a result of COVID-19 pandemic
Experienced or projected to experience a decline in employment between March 1, 2020 and June 30, 2020 as a result of the COVID-19 pandemic
Meet program requirements including ability to provide all required documentation to support request
Submit a completed application
Agree to background and credit check
Applies for no more than maximum of $4,500
Invoices submitted within 60 days of approval of funds
Vendor to be paid must have a W9 submitted https://www.irs.gov/pub/irs-pdf/fw9.pdf
What does not qualify for PEDC COVID-19 Business Grant?
National or regional chain or franchise
Business with more than 50 employees
Business that is home or Internet based
Business that is non–profit
Business not located in a business zone inside the Pittsburg City Limits
Applicant not willing to provide all the required documentation
Applicant not willing to agree to background and credit check
Any misrepresented or false information submitted
Amount above maximum of $4,500
Applications after 5 p.m. June 30, 2020
Invoices submitted after the 60th day of approval of funds
Invoices to self, a business owner or partner or the business or related business which is applying for grant
Invoices for payroll (since payroll includes incomes taxes, the EDC is not able to process checks for payroll)
All funding requests will be reviewed by the PEDC Board. The Board will make a best-faith effort to meet an applicant’s request, but all distributions will be contingent upon the eligibility of the business, degree of financial need, the timeliness of application submission and the availability of funds. Funding will begin immediately to address the urgent needs in the community.
What can PEDC COVID-19 Business Grant funding be used for?
PEDC COVID-19 Business Grant funds will provide financial assistance to businesses for one or more of the following business purposes:
Business rent or mortgage payments
Business utility payments
Inventory
Critical business operations (raw materials, marketing expenses, etc.)
How to demonstrate financial impact?
Applicants will be asked to demonstrate how the business has been negatively impacted. Applicants will need to list expected bill amounts and vendors on application for consideration of grant amount approval. Once approved, business provides documentation of those business expenses by providing the invoice or bill directly to the PEDC. In addition, all businesses applying for funding must submit a current balance sheet, tax information, sales information and vendors to be paid must submit a W9. The bills and hardship must be during the time frame of March 2020 and June 2020. Bills or hardship experienced outside this time frame will not be eligible.
What is the maximum funding request? Can I re-apply?
The maximum request for funding is limited to $4,500. Applicant may only apply once to allow as many businesses as possible to benefit.
How will funds be received?
Once a business has been awarded funding, the business will provide necessary documentation to the PEDC office by email (nbaum@pittsburgtx.net) to allow direct payments to vendors, landlords, etc. The PEDC will pay expenses directly on behalf of the awarded recipient. The PEDC will not write a check directly to the business which has been awarded funding.
How long do I have to submit bills to be paid by the grant?
The business will have 60 days from the approval date of the PEDC COVID-19 Business Grant to submit eligible expenses up to the amount of the awarded grant. Any unused funds awarded, after the 60 days from the approval date of the PEDC COVID-19 Business Grant will be forfeited.
What happens if I submit expenses that are not eligible?
After application has been approved and grant is awarded, You will be notified within 3 business days of the submission if an expense to be paid was not eligible for payment via email provided on application.
Who oversees the fund?
The fund will be managed by the PEDC and overseen by the City of Pittsburg.
Application Process
Fill out the requested information in this form. Remember, applicants must submit a current balance sheet and current active employee list, tax information and sales information when submitting the application.
Payments (manual checks) will be processed weekly and mailed. It could take 6-10 days for the destination institution to receive. The City of Pittsburg or the PEDC will not be held responsible for any penalties for delinquent payments nor bare any other responsibilities for the account.
Applications will be accepted now thru June 30, 2020 or until all funding resources are allocated. Applications must be submitted no later than 5 p.m. Tuesday, June 30.
Applications for assistance monies from the Pittsburg Economic Development Corporation (PEDC) must be approved by the PEDC Board of Directors before they can be considered approved. All assistance must be contractually tied to certain performance criteria on the part of the requesting entity under State Law. Before a request may be considered and awarded any funds, the attached application must be completed and submitted to the PEDC office. Incomplete applications and/or incomplete supporting documentation will not be accepted.
All actions of the PEDC are subject to the Development Corporation Act of 1979, Vernon’s Civil Statues, Sections 4A, 4B, and 4C. The PEDC is a legal entity with statutory authority to spend economic development sales tax dollars. The Corporation is city-chartered and governed by a city appointed board of directors. The PEDC is a 4B Corporation and may fund “projects” focused on the creation of “Primary Jobs” or projects where the business is engaged in “Manufacturing,” “Distribution,” “Regional or National Corporate Headquarters,” as well as “Non-Industrial Development”. The PEDC may limit those projects acceptable under State Law further as a matter of policy. The physical Business must be located inside the Pittsburg City Limit. Application approvals are subject to funds availability and current Board Policies.
To access the application, visit:
https://www.pittsburgtexas.com/government/covid-19-response/pedc-covid-19-business-grant?fbclid=IwAR2jnAKQlmpGuLXZBSvVG6clC6bclXnZJudCamNpHCjmHrQcgPwhuaEFSr0
View and print application. Scan and email the completed application and all required documentation before 5 p.m. June 30, 2020 to nbaum@pittsburgtx.net.
Sonya Woods
Sonya has followed a lifelong passion for journalism. Sonya began publishing The Tri-County Press on August 29, 2013, providing a weekly newspaper connecting the citizens of Titus, Camp and Morris Counties as well as neighboring residents through responsible community journalism.