The Pharr Economic Development Corporation is helping businesses recover from the COVID-19 crisis. Earlier this month, the members of the Pharr EDC board of directors approved the Pharr CARES (Coronavirus Aid, Relief, and Economic Support). Similar to the federal financial relief program, Pharr CARES provides financial relief in the form of working capital. The forgivable grants between $2,500 and $5,000 are for businesses who have been negatively impacted by the pandemic.
“The Pharr EDC truly cares about helping businesses recover after suffering such sudden and immeasurable losses as a result of the coronavirus crises,” said Pharr EDC Executive Director Victor Perez. “We are hoping to provide some financial relief that can help businesses in need continue operating in our community.”
Under Pharr CARES, eligible businesses can use the grant to supplement personnel costs, rent or commercial mortgage payments or utilities. It may also be of use for critical business equipment or supplies. Businesses must be within the corporate limits of Pharr, and in compliance with all zoning, land use and other ordinances. Applicants must be current on all property and sales taxes while also current on payroll tax requirements. There is a limit of one grant per funding opportunity per applicant. Other eligibility requirements apply are are on the Pharr EDC website.
The application period for the Pharr CARES grant will remain open until June 30, until funding has been exhausted, or until the Pharr EDC determines that its program goals have been satisfied.