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PEDC can help local businesses with damage
Local Pearland businesses damaged by Hurricane Ike will soon find financial relief through grants offered by the Pearland Economic Development Corporation (PEDC). The PEDC has allocated relief funds for qualified Pearland businesses that suffered losses not covered by insurance and government-assistance programs.
“Hurricane Ike caused significant damage in the Pearland community. We know that the money our business owners have been receiving through organizations like FEMA, the Small Business Administration (SBA) and other government agencies only goes so far and doesn’t cover all of the losses,” said Fred Welch, executive director for the PEDC. “These grants will help partially fill that gap and allow business owners to repair or replace items such as signs, parking lots and building exteriors.”
Businesses eligible for participation in this grant program include for-profit firms that have been in business in Pearland for at least one year, employ two or more full-time workers and can provide proof of annual sales ranging from $100,000 to $5 million. Businesses must also have a loan request on file with the SBA and an acceptable credit history.
The maximum grant amount per eligible business will be $5,000. All grants will be available on a first-come, first-served basis. Businesses receiving grants must remain in operation in Pearland for a period of three years or be subject to repayment.
Grant applications are now available at www.pearlandedc.com. All applications will be reviewed by a grant committee. Qualified recipients must complete a vendor application with the city of Pearland before receiving the grant. Applications will be accepted through Dec. 31, 2008 or when all funds have been disbursed, whichever occurs first.
“Unfortunately, private, non-profit organizations, such as charities, churches, private and public universities and colleges, are not eligible for this grant program, “Welch said. “But, these organizations may be eligible for assistance through the SBA’s disaster loan program.”
For more information, call (281) 652-1627.
“Hurricane Ike caused significant damage in the Pearland community. We know that the money our business owners have been receiving through organizations like FEMA, the Small Business Administration (SBA) and other government agencies only goes so far and doesn’t cover all of the losses,” said Fred Welch, executive director for the PEDC. “These grants will help partially fill that gap and allow business owners to repair or replace items such as signs, parking lots and building exteriors.”
Businesses eligible for participation in this grant program include for-profit firms that have been in business in Pearland for at least one year, employ two or more full-time workers and can provide proof of annual sales ranging from $100,000 to $5 million. Businesses must also have a loan request on file with the SBA and an acceptable credit history.
The maximum grant amount per eligible business will be $5,000. All grants will be available on a first-come, first-served basis. Businesses receiving grants must remain in operation in Pearland for a period of three years or be subject to repayment.
Grant applications are now available at www.pearlandedc.com. All applications will be reviewed by a grant committee. Qualified recipients must complete a vendor application with the city of Pearland before receiving the grant. Applications will be accepted through Dec. 31, 2008 or when all funds have been disbursed, whichever occurs first.
“Unfortunately, private, non-profit organizations, such as charities, churches, private and public universities and colleges, are not eligible for this grant program, “Welch said. “But, these organizations may be eligible for assistance through the SBA’s disaster loan program.”
For more information, call (281) 652-1627.
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