Tarrant County Commissioners Court allocates $30M to business economic assistance program

Businesses along Abram Street sit closed due to the outbreak of COVID-19 on April 13 in Arlington. Arlington businesses can apply for economic assistance through Tarrant county beginning next week. 

Eligible Arlington businesses can apply for economic assistance through the Tarrant County Small Business Assistance Grant Program beginning Monday morning, according to the city website.

The Tarrant County Commissioners Court allocated $30 million from the Coronavirus Aid, Relief and Economic Security Act to the program, which aims to assist in costs associated with business interruptions amid a public health emergency. The application period closes July 1 at 6 p.m. and applicants can apply here.

At least $6 million — or 20% of the grant funds — are allocated for businesses with 51% minority, woman or veteran ownership. The dollar amount of individual grants will vary based on financial information provided, the number of eligible applications and the funding pool available.

All grants will be limited to $10,000 and will be on a reimbursement basis. More information about the assistance program can be found here.

In response to COVID-19, U.S. Congress passed the CARES Act in March, which included more than $2 trillion in economic relief to the country, according to the U.S. Department of Treasury website.

@colby_farr

news-editor.shorthorn@uta.edu

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