San Antonio is launching a brand new $1.4 million grant program to assist small companies affected by city-led development initiatives, in accordance with the newest from San Antonio Report. The initiative, introduced by town’s Financial Growth Division, contains three separate grants to offer help earlier than, throughout, and after development.
The most important of the three, the Stabilization Building Grant, is backed by $1 million and can supply as much as $35,000 to eligible companies alongside streets like South Alamo and inside the Zona Cultural. To qualify, companies should show internet income losses from the previous yr. An estimated 266 companies may gain advantage from this funding.
The Mitigation Building Grant targets companies making ready for main upcoming initiatives. This spherical focuses on the Marbach Highway Streets and Drainage Challenge, anticipated to start this fall. Grants of $2,000 might be obtainable for as much as 40 companies to assist cowl advertising and signage bills. A complete of $80,000 has been allotted for this effort.
The third grant, the Speed up Restoration Grant, helps companies alongside roads the place development was lately accomplished, together with Broadway Avenue and Bulverde Highway. With $120,000 in funding, this system will supply $5,000 grants for as much as 24 companies to make exterior or inside enhancements—corresponding to portray, signage, or seating upgrades.
Purposes for the Stabilization and Restoration grants open by Might 1, whereas the Mitigation Grant software interval begins June 2.
In line with San Antonio Report, metropolis information exhibits previous construction-related grants improved small enterprise survival charges, significantly in meals and lodging sectors.
