Coppell Announces New Business Assistance Grant Program

From City of Coppell:

The City of Coppell has established a new grant program — Coppell CARES Business Rent/Mortgage Assistance Grant— to assist local businesses that have been affected by the COVID-19 pandemic. This new program replaces the Coppell CARES Restaurant Assistance Grant and Coppell CARES Business Retrofit Grant that were launched in July.

Dallas and Denton counties approved funding for this business assistance program as a part of the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act, which aims to provide economic relief for people and businesses impacted by COVID-19. The City has dedicated approximately $1.3 million to the Coppell CARES Business Rent/Mortgage Grant, which is designed to help small businesses, as defined by the Small Business Administration, in Coppell with their rent or mortgage payments.

The previous Coppell CARES grant programs had specific requirements that may have limited the number of eligible businesses. While the new grant program also has qualifying criteria, the City is hopeful more businesses will be able to take advantage of this opportunity for assistance.

"We were recently informed that any funds not committed by November 30 must be returned to Dallas County," said Director of Community Development Mindi Hurley. "We want to be able to use these funds responsibly and in the best way possible. I believe this program will be applicable to a larger number of businesses and will be more beneficial."

Businesses that apply and qualify will be awarded a maximum of $5,000 to use for rent or mortgage payments. To qualify, a business:

• Must be located within the city limits of Coppell and must be in current compliance with the City of Coppell Code of Ordinances, including all applicable zoning and land use ordinances
• Must not be in any litigation with the City of Coppell or the County in which they are located
• Must have a physical store front in the City of Coppell
• Must have a current utility bill showing a Coppell address for the business
• Must demonstrate that they have endured a 10% or greater reduction in sales/business for at least two months after March 1, 2020 due to the COVID-19 pandemic.

There will be a continuous application period from September 28, 2020 until all funds have been distributed or October 30, 2020. Grants will be awarded on a first come, first served basis with higher priority given to those businesses that have not yet received a grant from the City of Coppell.

More information, applications, and supporting documents for the Coppell CARES Business Rent/Mortgage Assistance Grant program can be found at coppelltx.gov/grants.

This press release was produced by City of Coppell. The views expressed here are the author’s own.