The city of Irving is offering a new program helping businesses suffering from the effects of COVID-19.
The program will provide up to $50,000 in forgivable loans to Irving businesses with additional CARES Act funding, the city said.
The pre-application process, an 11-question form, will open Aug. 24 and close Sept. 6.
Once the pre-applications are scanned, the city said eligible businesses will be randomly selected through a lottery system.
Loans will be forgiven if the company stays in business for four months and retains 60% of its employee count and payroll, according to the city.