Helping local businesses bridge some financial gaps amidst the ongoing COVID-19 pandemic, the City of Pearland has begun awarding local businesses with grants, as part of the federal government’s Coronavirus Aid Relief and Economic Security (CARES) Act. Grants ranging from $6,000 to $15,000 are being disbursed to 61 Pearland for-profit, small businesses with storefronts or commercial office/operating space, that have also faced economic losses due to COVID-19. A total of $857,000 was made available to fund the program, largely based on the amount of discretionary spending the State allowed the City to incur with its CARES Act funds, and be able to provide rental and utility assistance relief as well.
Grants are being allocated to qualifying Pearland small businesses with annual revenue of less than $2 million that were negatively impacted by the COVID-19 pandemic. To be eligible, commercial operations located within the City also had to show at least a 10 percent loss of revenue since the start of the pandemic.
“We are aware of the burdens that the COVID-19 Pandemic has placed on our businesses here in Pearland,” said Brian Malone, Vice President of the Pearland Economic Development Corporation. “These grants will help the City to not only retain those businesses but allow them to continue their operations in these difficult times.”
Local businesses may use these grants to pay for working capital, payroll for job retention or expansion, rent/mortgage for business location, utilities and other general operating expenses.
