McKinney, Frisco and Allen partner for Tri-City Collin County Small Business Grant Program
McKINNEY, Texas (June 18, 2020) – The City of McKinney and McKinney Economic Development Corporation propose a $5 million dollar grant program to support small businesses negatively impacted by the COVID-19 pandemic. The Tri-City Collin County Small Business Grant Program (SBGP) is a collaboration between the City of Frisco, TX, the City of Allen, TX, and the City of McKinney designed to help minimize economic hardships experienced by Collin County businesses and each have similar scope and disbursement perimeters. Funding for the program will be provided by Collin County as part of the CARES Act.
“We’ve been adamant about exhausting all sources to get more grant funding into the hands of our small businesses,” said Mayor George Fuller. “The $1 million dollar McKinney Strong grant program was the first step to keep lights on and we hope the Tri-City grant will sustain our county’s economy through this time and set in motion lasting recovery.”
Recipients must have less than 100 employees, less than $15 million in annual revenue and operate in the incorporated city limits of McKinney. A $25,000 grant is currently proposed and will be awarded based on such factors as need, eligibility, and number of employees, loss due to full/partial shutdown or being closed during the COVID-19 pandemic. Eligible expenses may include rent, utilities, contract labor, payroll and more. Non-profits and home-based businesses are not eligible.
“As a county, we’re committed to ensuring our business community has the support and vital resources it needs to continue to operate and grow,” said Peter Tokar, MEDC President. “The collaboration of our neighboring cities to craft this grant program was a testament to our urgency to uphold that commitment.”
Pending final council approval on June 23, applications will be accepted June 24-July 8. For eligibility and information on how to apply for the Tri-City Collin County SBGP, visit www.mckinneytexas.org/RecoveryGrant.