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A new small business grant program for the City of Lufkin is accepting applications from local businesses in need of financial assistance due to the COVID-19 pandemic.
According to a Facebook post from Lufkin City Hall, the We Love Lufkin Small Business Grant Program will help small businesses recover from the economic impact the coronavirus pandemic has had. The program has $500,000 to put toward helping small businesses, which it received from the CARES Act.
Funds will be approved on a first-come, first-served application basis and will be divided to ensure small business receive at least 75% of the funding and that minority-owned businesses receive at least 25% of the funding.
To be eligible to apply for a grant, a business can have up to 50 employees and needs to show at least a 20% reduction in business as a result of the pandemic. Once demonstrated, they will be able to receive up to $15,000 in assistance.
“The city is undergoing its own economic challenges as a result of this pandemic,” Mayor Bob Brown said in the post. “But, our first priority at this time is to show our support for the small businesses in our city that are struggling."
More information on the grant program is available on the City of Lufkin's website.
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