File photo
File photo
The City of Dallas' Small Business Continuity Fund program has granted funds to select businesses to assist low-to-moderate income microenterprise business owners.
Small businesses that qualified had five or fewer employees (microenterprise). However, businesses with 50 or fewer employees also qualified if they retained LMI workers within the City of Dallas.
A total of $5 million is being granted by the U.S. Department of Housing and Urban Development, which is provided by the CARES Act. Businesses can receive up to $50,000 but no less than $10,000.
The U.S. government defines a small business as a company with fewer than 50 employees or make an annual income of under $1.5 million. A microbusiness is defined as a business with five employees or fewer. The number of employees includes the business owner.
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