San Antonio is launching a brand new $1.4 million grant program to assist small companies affected by city-led development initiatives, in response to the newest from San Antonio Report. The initiative, introduced by town’s Financial Improvement Division, consists of three separate grants to supply 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 throughout the Zona Cultural. To qualify, companies should exhibit internet income losses from the previous 12 months. An estimated 266 companies may benefit from this funding.
The Mitigation Building Grant targets companies getting ready for main upcoming initiatives. This spherical focuses on the Marbach Street Streets and Drainage Challenge, anticipated to start this fall. Grants of $2,000 shall be obtainable for as much as 40 companies to assist cowl advertising and marketing 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 Road and Bulverde Street. With $120,000 in funding, this system will supply $5,000 grants for as much as 24 companies to make exterior or inside enhancements—akin 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 accordance with San Antonio Report, metropolis information reveals previous construction-related grants improved small enterprise survival charges, notably in meals and lodging sectors.
