San Antonio is launching a brand new $1.4 million grant program to help small companies affected by city-led development tasks, in line with the newest from San Antonio Report. The initiative, introduced by the town’s Financial Growth Division, contains three separate grants to offer help earlier than, throughout, and after development.
The biggest 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 getting ready for main upcoming tasks. This spherical focuses on the Marbach Highway Streets and Drainage Mission, 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 not too long ago 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—akin to portray, signage, or seating upgrades.
Purposes for the Stabilization and Restoration grants open by Might 1, whereas the Mitigation Grant utility interval begins June 2.
In accordance with San Antonio Report, metropolis knowledge reveals previous construction-related grants improved small enterprise survival charges, significantly in meals and lodging sectors.
