Grant Amount: Varies
The Town of Argyle Small Business Grant is a new program that will provide financial support in the form of grants to small business owners in Argyle that have been impacted by the pandemic. The program, funded by the Town of Argyle (2021 American Rescue Plan Grant) has dedicated $250,000 in funding to support for-profit small businesses with grants up to $25,000.
- Have annual gross sales between $15,000 and $2 million; gross revenues are based on Line 1 of Schedule C or Line 1a of 1120, 1120S, or 1065.
- Be located within the Town of Argyle. You can check your address using this map.
- Have experienced negative impact on operations due to the pandemic; “Negative impact” is defined as a 15% decrease in gross sales between 2019 and 2020 (Line 1 of Schedule C or Line 1a of 1120, 1120S, or 1065) or a 25% increase in expenses between 2019 and 2020 (Line 28 of Schedule C or Line 1a of 1120, 1120S, or Line 21 of 1065). Other methods may be used if additional documentation is requested.
- Have been in operation before December 30, 2019 and currently operational; “Operational” is defined as a positive amount of gross receipts or sales on the 2019 tax return (Line 1 of Schedule C or Line 1a of 1120, 1120S, or 1065) or a bank statement prior to April 2020 showing business activity generated sales deposits. “Currently operational” is defined as presence of business activity generated sales deposits on the most recent bank statement.
- Have at least one employee (W2) and no more than 50 FTEs (W2 and 1099) employees
- Be in good standing with Texas Comptroller’s office.