PHARR – In the wake of the COVID-19 (Coronavirus) pandemic, businesses across the country have been forced to adjust to a new reality. The pandemic created an unprecedented negative economic impact on businesses worldwide. As communities fell under shelter-at-home orders to mitigate the spread of the disease, some businesses managed to creatively continue operations, while others were not as fortunate. With Texas now re-opening its economy, businesses are faced with a new uncertainty - how to rebound after the crisis and begin thriving economically once again.
The Pharr Economic Development Corporation (EDC) is here to help businesses recover during this time of need. Earlier this month and coinciding with Economic Development Week, the members of the Pharr EDC board of directors approved the COVID-19 Emergency Business Grant Program. Appropriately named the "Pharr CARES (Coronavirus Aid, Relief, and Economic Support)," similar to the federal financial relief program, the Pharr EDC program will provide financial relief in the form of working capital - forgivable grants between $2,500 and $5,000 - for businesses who have been negatively impacted by the COVID-19 (Coronavirus) pandemic.
"The Pharr EDC truly cares about helping businesses recover after suffering such sudden and immeasurable losses as a result of the coronavirus crises," said Pharr EDC Executive Director Victor Perez. "We are hoping to provide some financial relief that can help businesses in need continue operating in our community," he added.
Under Pharr CARES, eligible businesses can use the grant to supplement personnel costs, rent or commercial mortgage payments, utilities, and critical business equipment or supplies. Businesses must be located within the corporate limits of Pharr and must be in compliance with all zoning, land use, and other ordinances. Applicants must be current on all property and sales taxes, and current on payroll tax requirements. There is a limit of one grant per funding opportunity per applicant. Other eligibility requirements apply and can be found on the Pharr EDC website at www.pharredc.com/cares.
The application period for the Pharr CARES grant will remain open until June 30, 2020, until funding has been exhausted, or until the Pharr, EDC determines that its program goals have been satisfied.
For more information, visit www.pharredc.com or contact 956-402-4332.