Editor’s Note: This story has been updated to reflect that money from Wilco Forward will be given to businesses in the form of grants, which they will not have to pay back to the county.
WILLIAMSON COUNTY, Texas (KXAN) — Williamson County commissioners are ready to roll out the county’s financial assistance plan for small businesses.
The $25 million fund, named Wilco Forward, is expected to open to receive applications on Wednesday evening. Small businesses can apply for funding on wilco.org/forward.
The money aims to help local small businesses get off the mat during the coronavirus pandemic. Funding for the program comes from the $93 million that Williamson County received from the federal government’s CARES Act.
Commissioners have defined terms for the small businesses that are eligible to receive the grants. Small businesses with 100 or fewer full-time equivalent employees (FTEs), including sole proprietors, will be eligible for up to $30,000.
The county’s goal is to roll out the applications by 5:30 p.m Wednesday. If a business qualifies, the county expects applications could be approved as early as Friday. However, response time is dependent on how quickly applications are submitted. Applications will go until June 30, or until the funds run out.
The funds must be spent between March and December of 2020.