DENTON, Texas (CBSDFW.COM) – Texas Woman’s University has launched a $1 million grant in order to help women-owned small businesses that are hurting due to the coronavirus pandemic.
Small businesses throughout North Texas and across the U.S. have seen significant financial losses due to COVID-19. Officials have been ordering “non-essential” businesses to close their doors or limit their operations as a way to prevent the further spread of the virus.
On Thursday, TWU announced its new grant in order to help those struggling businesses during these trying times. The “AssistHER” program will look to provide 100 grants worth $10,000 each to small businesses owned by women.
The school said the grants can be used for operating expenses, technology upgrades or helping with a new business model. The school said the grant is not for expenses such as payroll, advertising or penalties and fees.
In order to qualify for the grant, TWU said the businesses have to be 51% owned by a woman, show evidence of need due to the coronvirus outbreak and must be owned and operated in Texas. Those businesses also have to be up-to-date on payroll and be properly permitted.
“Unprecedented times call for unprecedented action,” Chancellor Carine Feyten said. “Servant leadership runs deep at Texas Woman’s and this grant program exemplifies that philosophy.”
Those who want to apply for the program can visit TWU’s Center for Women Entrepreneurs website.