The Dallas Entrepreneur Center Network (DEC) in collaboration with the private business community and LiftFund is launching Revive Dallas Small Business Relief Fund at the Communities Foundation of Texas. The Revive Dallas Small Business Relief Fund is a Dallas County focused relief fund provided by the private business community in North Texas. This fund was created to support small business entrepreneurs who are in jeopardy of not surviving in the age of coronavirus, with a priority on providing funding to the minority and women owned small businesses who have been unable to find the suitable funding to get them through the COVID-19 pandemic. The Communities Foundation of Texas will serve as the fiscal sponsor for this fund and LiftFund, is the CDFI partner that will be administering the loan application and approval process.
This is a zero percent (0%) loan fund that is forgivable upon meeting a few key milestones that will help your business move forward. Loans will granted up to $25,000 and will be combined with a special set of non-monetary resources including access to free mentors, information about other funding opportunities and other important resources that small businesses can leverage to help build, grow, and revive their businesses.
This initiative has already received endorsements from Dallas Regional Chamber, Dallas Citizens Council, Downtown Dallas Inc., Visit Dallas, North Dallas Chamber of Commerce, and City of Dallas.
Key Eligibility Criteria
Companies should have been in existence in August 2019
Firm must be under 15 employees AND demonstrates a loss of at least 15% of revenue in the period beginning March 1, 2020 due to the COVID-19 crisis
Annual gross revenues of not more than $1.5 million from all business activities in 2019
Targeting a minimum of 51% or more of fund to be dedicated to minority- or Women-owned businesses
If you have any questions, please contact Sejal Desai, Business Engagement Director, CFT For Business at firstname.lastname@example.org or 2147504239.
To apply to the fund and participate in the pre-qualification you can visit www.revivedallasfund.com
If you have questions you can email email@example.com
You can find some of the answers to your questions in our FAQ section.