The city of Fort Worth is about to launch a second round of help for small businesses.
The application period for the second round of the 'Preserve The Fort' grants is expected to open by next Tuesday, with nearly $9 million left in its business-related CARES Act allocation.
Fort Worth Economic Development Director Robert Sturns says some of the requirements will be stretched from the first phase. For example, the maximum number of employees is expanded.
“We’re trying to sustain as many businesses as we can,” Sturns told NBC 5. “We don’t know what the next two, three, four months are going to look like for our small businesses.”
Another area of emphasis in phase two is non-profits.
Unlike the first round, in which approval and distribution all happened after all applications were submitted, these applications will be approved and money will be distributed on a rolling basis.
During the first round of grants, the city distributed $6.2 million to 842 businesses in Fort Worth. Of the companies that applied, 95% were businesses with 25 employees or fewer, according to reports.
“This round, we’re really trying to get more of the mid-sized companies, up to a max of 500 employees. We also have a focus on the bars and music venues that were closed per the governor’s orders,” Sturns said. “They have not had really any income coming in, other than those that have been able to pivot to doing some type of hybrid of food and beverage sales.”