AUSTIN (KXAN) — The City of Austin has teamed up with the Better Business Bureau to provide relief grants for nonprotis and businesses across the city. The application process for the Austin Small Business Relief Grant and Austin Non-Profit Relief Grant goes live online Tuesday at 10 a.m.
The Austin City Council approved over $23 million in aid. Businesses and nonprofits approved will be able to use the money to cover rent expenses, staff payroll and other economic needs.
Businesses could get up to $40,000 in aid and nonprofits could get up to $20,000.
In order to apply, nonprofits and businesses must be eligible and meet certain requirements.
Eligibility requirements for businesses:
- Business able to demonstrate an economic loss associated with the COVID-19 global pandemic
- Business with 25 employees or fewer
- Business with under $5 million in annual revenues
- Business has been in continuous operation for at least 2 years
- Business organized as partnerships, sole proprietorships, LLCs, cooperatives, or other business structures
- Business able to provide one (1) year of federal income tax returns
- Business headquartered in a City of Austin Council District
Nonprofits must meet these requirements:
- Organizations able to provide 2018 and 2019 federal income tax return (or 2018 tax return with 2019 tax extension documentation)
- Organizations who have been in operations providing services for two years minimum.
- Non-Profit Organizations under good standing with the Internal Revenue Service and classified as a “public charity” with a tax-exempt status under Section 501c3 or 509a
- Organizations able to demonstrate a direct financial loss associated with the COVID-19 global pandemic
- Organizations registered and headquartered in a City of Austin City Council District
- Non-profit operations occur primarily in Austin, Texas (75% minimum)
Eligible businesses and nonprofits will be asked to provide evidence of an economic loss associated with the COVID-19 pandemic. The application process closes on July 24 at 5 p.m.