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PEDC helps Ike-hit businesses
The Pearland Economic Development Corporation (PEDC) provided financial relief to more than 35 local businesses who suffered damages from Hurricane Ike. However, it is not too late for business owners with losses not covered by insurance and government-assistance programs to apply. The PEDC, which allotted $1 million in the form of grants, still has funds available for businesses that qualify.
“I can’t believe that every local business hasn’t taken advantage of this program,” said grant recipient Becky Cornelius, owner of Pat Griffin Realty, whose office sustained roof and water damage from the storm. “It was a great idea for the PEDC, and the process couldn’t have been any easier.”
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 an acceptable credit history.
The maximum grant amount per eligible business is $5,000. All grants are 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. Private, non-profit organizations, including charities, churches, private and public universities and colleges, are not eligible for this grant program.
Grant applications are 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.
“Hurricane Ike caused significant damage in the Pearland community. We know that the money our business owners received 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 of 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.”
For more information on the program, call (281) 652-1627.
“I can’t believe that every local business hasn’t taken advantage of this program,” said grant recipient Becky Cornelius, owner of Pat Griffin Realty, whose office sustained roof and water damage from the storm. “It was a great idea for the PEDC, and the process couldn’t have been any easier.”
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 an acceptable credit history.
The maximum grant amount per eligible business is $5,000. All grants are 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. Private, non-profit organizations, including charities, churches, private and public universities and colleges, are not eligible for this grant program.
Grant applications are 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.
“Hurricane Ike caused significant damage in the Pearland community. We know that the money our business owners received 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 of 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.”
For more information on the program, call (281) 652-1627.
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