coronavirus (covid-19) business resources
The Fritch Economic Development Corporation has created the links below to help you stay informed and make appropriate business decisions.
SENATE COVID-19 RELIEF BILL
TAX DELAYS AND IRS INFO
BUSINESS FINANCIAL INFO
COVID-19 BUSINESS SUPPORT PROGRAMS
Who can apply:
• Small Businesses (20 employees or less) that have been impacted by COVID-19 mitigation efforts and stay at home orders.
• Priority will be given to businesses inside the City of Fritch that have remained open during statewide quarantine, and that have had to limit operations or have had to add personnel to cover take-out, curbside, or delivery, or can show direct, negative impacts that threaten the ability of the business to continue operations long-term.
How will the funds be received:
Once a business has been awarded funding, that business will provide documentation to the EDC and the EDC will make direct payments to the vendors, landlords, ect. to pay expenses directly on behalf of the funding recipient. The EDC will not write a check directly to the business that has been awarded funding.
Who oversees that fund?
The fund is managed by the EDC and applications will be reviewed by a committee of EDC board members and final approval will be made by the Fritch EDC Board.
Direct Support For Job Retention
The Fritch EDC will provide financial assistance to business for one or more of the following purposes:
• Business loan Obligations
• Mortgage payments
• Utility payments
• Insurance Payments
• Payroll for employees still employed and working at the business or to add employees to pay for delivery services of products
• Other Critical business operations if approved by the job retention fund oversight committee
Funding: The maximum request for funding is limited to $5,000 for a 45-day period. After 45 days an applicant may submit another request provided funding is available.
Marketing Support For Business Advertising
The Fritch EDC will provide financial assistance to business for marketing expenses:
• Purchasing Newspaper and Radio Ads to promote changes in operating hours
• Website design services to move to an online platform for providing services
• Other marketing needs as approved by the marketing fund oversight committee
Funding: The maximum request for funding is limited to $1,500 for a one time request for funding.
Please see the attached application below
Fritch at Lake Meredith Economic Development
Through the Fritch at Lake Meredith Economic Development (FEDC) Program, Entrepreneurs desiring to expand or establish a business may request funding. This request is to be submitted as part of a qualified bankable, business plan. Each entrant must request a specific amount of funding and fully justify that request. The Board of Directors will have the discretion to award more or less than the amount requested pending Fritch City Council approval. However, the grant request must be specific, itemized and justified by the business plan.
The FEDC is a Type 4B economic development corporation.
The FEDC meets monthly, the first Monday of the month at noon in the Fritch Annex Building Requests. For inquiring into how the Fritch EDC can assist you in your business needs, please contact us via email at EDC@fritchcityhall.com.
Plus you are always welcome to attend our monthly meetings at stated above.
To be placed on the Agenda must be submitted by 5 p.m. the Thursday before the meeting.
The Fritch at Lake Meredith Economic Development Corporation (FRITCH EDC)
104 N. Robey PO Box 758 Fritch, Texas 79036 email: EDC@fritchcityhall.com
806.857.3143 (Fax) 806.857.3229
The Fritch at Lake Meredith Economic Development Corporation is a Texas state certified entity located in a small Panhandle community. The three main purposes of any Economic Development Corporation is; 1. Attract new businesses to the area (Big and small) to increase jobs. 2. Increase the sales tax revenue base for the city. 3. Improve the quality of life for those who call Fritch home.
Vision Statement –
The Fritch EDC exists to attract new businesses, support existing business and empower the citizen into entrepreneurship, while effectively improving the quality of life for citizens, tourist, and all guest that experience our great community.
Mission Statement –
The Fritch at Lake Meredith Economic Development Corporation is dedicated to providing support for existing businesses via tools such as training, analysis and resource identification. Our EDC offers consulting assistance (internal and external) to expanding businesses. And the EDC will actively engage in market research and relationship building in order to attract new business to our commercial area.
The Fritch at Lake Meredith EDC will partner with other civic organizations in activities such as community needs assessment to ensure that the Fritch area becomes a more attractive place to visit, live, work, raise a family and retire.
Our EDC will constantly strive through training and the recruitment of experienced business persons to elevate our stature in the Texas EDC community.
Where does the EDC get their Funding?
The Fritch at Lake Meredith Economic Development Corporation was certified in September 2002 as a Section 4B enterprise. By ballot vote, the EDC as granted ¼ of 1 percent sales and use tax revenue within the City Limits of Fritch.
What can the EDC do for you?
Other than monetary support (Incentives, Grants, Loans, and/or investments) We offer consulting advice and/or business training. This service is expensive to contract but available to our clients at no or nominal fees. (Possible fees could be incurred for materials). The same can be said for services such as research, analysis, and marketing support. EDC also has a wide range of connections with both local and state organizations that can be a great value in the need of of business growth and development.
Organization and Management
The Fritch at Lake Meredith Economic Development Corporation is chartered by the state of Texas. The EDC is overseen by the Fritch City Council who approves all spending requests such as grants and operating expenses.