City of Dallas Small Business Microgrant Program

City of Dallas Small Business Microgrant Program is sponsored by City of Dallas. Financial support for small businesses impacted by the COVID-19 pandemic.

Small Business Assistance Program | City of Dallas Office of Economic Development Small Business Assistance Program Small Business Assistance Program The Small Business Assistance Program is a City-wide program that provides grant assistance to Dallas small businesses to assist with real estate or other capital improvements as they grow and/or move into Dallas store fronts or offices.

For projects located in Target Areas , the minimum investment needed for the project is $150,000. For projects not located in Target Areas, the minimum investment is $250,000. Please note that the cost of property acquisition (purchase or lease) is NOT included in the project minimum.

Applicant must demonstrate that the project has 75% of project cost committed from non-City sources (for example, a bank commitment or cash on hand) Projects cannot exceed $2 million in total project cost. Projects that are $2 million or higher may qualify for other economic development incentives . This program is available to businesses with 20 or fewer employees (at one or multiple locations).

For projects that otherwise meet the program requirements but have more than 20 employees, please reach out to small business staff.

Non-target Area Without Living Wage Job Creation Base award 15% of eligible project costs 15% of eligible project costs Maximum award $300,000 $100,000 With Living Wage Job Creation Jobs Created OR 5 10 Jobs Retained 10 15 Base award 25% of eligible project costs 25% of eligible project costs Maximum award $400,000 $100,000 A business applies for an incentive in a Target Area and their project cost is $250,000.

They have $187,500 (75%) in funding from banks and private funds and require the remainder in order to hire a contractor for renovations. They can commit to creating five jobs over a 5-year period. OED would enter into a grant agreement to provide $37,500 (15%) in the form of a reimbursable grant.

The applicant would also be eligible to be awarded an additional $12,500 (10%) as a grant payment upon verification of the job creation. Business owner would be required to retain the five jobs for the term of the grant agreement. Submission of an application does not indicate automatic approval of assistance.

All small business assistance agreements require approval by City Administrative Action executed by the City Manager or, where appropriate, City Council approval. An agreement must also be approved as to form by the City Attorney’s Office. Improvements made prior to the execution of an agreement do not count towards the minimum project cost.

All agreements are for a term of five years. Economic Development Manager Economic Development Coordinator Small Business Assistance Program Application (rev. 11.

26. 25) Small Business Assistance Program Construction Budget Worksheet (rev. 2.

18. 26) Solicitud del Programa de Asistencia para Pequeñas Empresas