HOUSTON – New funding will be available for struggling businesses and chambers of commerce. Wednesday, Houston City Council passed the City’s Small Business Economic Relief Program (SBERP) that will distribute $15 million to local businesses and chambers.
The program, which passed Wednesday, is aimed to strengthen small businesses and local chambers of commerce grappling to keep their doors open.
Each qualifying business or chamber could potentially receive $50,000 for digital, payroll, rent and other funding requirements.
To qualify for the SBERP, business owners must meet the following requirements:
- Must be a business whose principal place of business is located within city limits of the City of Houston.
- Must have been in business for at least one (1) year for the last year.
- Must provide evidence of how business revenue has significantly decreased because of government restrictions or other challenges due to COVID-19.
- A business qualifies if it generated $2 million or less in gross annual revenue preCOVID-19.
- Must be in good standing regarding City requirements (e.g. property taxes,
personal property, grounds for debarment, etc).
- Must commit to completing the technical assistance component of this program
provided via contractor.
- These eligibility standards may be modified for applicants who are chambers
of commerce with OBO Director approval.
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