Background

The Stephenville Economic Development Authority and the City of Stephenville are implementing a COVID 19 Emergency Loan Program to provide assistance to local businesses that are suffering from financial impacts related to the COVID-19 (coronavirus) pandemic, pursuant to the authority of SEDA and the City of Stephenville under Sec. 505.103, Local Gov’t Code and the mutual intent to promote local businesses during this time of local disaster. This program is designed for those businesses forced to temporarily close as listed below. Only one application per business address will be considered and, if approved, will be eligible for emergency aid up to $2,500.00. The application period for this loan will remain open until July 30, 2020, OR until funding has been exhausted, OR until it is determined that the program goals have been satisfied.

I understand the requirements of the Background (Initial Here)

Eligibility & Consideration

In accordance with Executive Order GA 14 issued by Texas Governor Gregg Abbott on March 31, 2020, A State of Disaster and Public Health Emergency is hereby declared for the City of Stephenville, pursuant to §418.108(a) of the Texas Government Code.
Businesses and employers are encouraged to implement any and all measures necessary to prevent the spread of COVID-19 and are ordered to post all measures on the door of entrance to their businesses. This Declaration hereby orders the closing of the following personal service businesses or one-to-one businesses including, but not limited to, tanning salons, tattoo and body piercing parlors, hair salons, barbershops, nail salons, massage parlors, and massage activities ancillary to another business unless prescribed by a professional health care provider.

In order to qualify for funding under this program, the applicant must meet ALL the following criteria:

The business must be in the corporate city limits of Stephenville, Texas and must be in compliance with all applicable zoning, land use, and other ordinances.

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Proof of applicant’s ownership of the business, or proof that the owner of such business has approved the application for loan funds, shall be required.

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The applicant must be current on all property and sales taxes.

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There is a limit of one loan per physical address / place of business.

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Applications must be received by 5:00 p.m. on Tuesday’s.

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If approved, the City of Stephenville issues checks on Friday’s.

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The business must remain in operation inside the Stephenville city limits for a minimum term of 90 days after the closure order has lifted to be considered forgivable.

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Failure to meet the above consideration will result in repayment of the full loan amount over a 24-month period with an interest rate of 1.5%.

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1. Applicant Information

Contact Name(s):

Contact Phone:

Name of Business:

Address:

Email Address:

2. Information on Business

TIN (9-digit Tax ID Number EIN or last 4 digits of SS#):

Annual Gross Receipts:

Under $250,000Over $250,000

Please list expense description, dollar amount and due date for each, and attach invoices and statements.

Total amount requested (up to $2500.00)

Please indicate if you have applied for additional relief in the following categories:

Bank          YesNo $

Number of Years in Business:

Number of Full-Time Employees:

Number of Part-Time or Seasonal Employees:

3. Commitment

I agree to adhere to the COVID-19 Emergency Loan Program guidelines established by the Stephenville Economic Development Authority and the City of Stephenville.

Please return this application to the SEDA office. Submissions by email are preferred covidrelief@stephenvilleeda.com, however, hard copies will be accepted. Please note that our lobby is currently closed to the public, but you may set up an appointment if necessary.
Call 254-459-4921 for more information.