San Antonio: City Council Approves $30.95 Million Small Business Recovery Plan
Txylo.com/10193781

Trending...
CONTACT: Caitlin Cowart, Office: 210-207-3996 Cell: 310-486-2808
Caitlin.cowart@sanantonio.gov

SAN ANTONIO (June 23, 2022) — Today, City Council approved the allocation of $30.95 million in funds from the American Rescue Plan Act (ARPA) to launch a small business recovery plan that provides both immediate and long-term solutions to help businesses recover from the negative impacts of the pandemic and establish a stronger, more resilient economy.

"ARPA funding is a rescue plan but also an opportunity. We are looking for recovery for our small businesses and for our economy as whole," Mayor Ron Nirenberg, "This robust plan will ensure that current needs are addressed and that we think strategically for the greater good of all of San Antonio."

The small business recovery plan was crafted with public input obtained by the City's Small Business Advisory Commission, a survey of local small business owners and feedback from the community and City Council. The plan provides short-term relief through $17 million in direct grants to small businesses hardest hit by the pandemic. LiftFund US will administer the grant program. The application period will be open from August 1 – 22. Information about how to apply for these grants will be announced soon.

More on Txylo.com
"The federal funding provides an opportunity to build long-term resiliency in our small businesses," said City Manager Erik Walsh. "We want our small businesses to be able to withstand future unexpected economic downturns and this recovery plan gets our local economy moving in a positive direction."

The plan also invests funds to provide small businesses with access to flexible capital funds, programs to help businesses strengthen their web and business capabilities, creates a coordinated small business safety net, promotes consumption of local goods and services, and promotes the creation of vibrant small business communities.

"This plan is a result of extensive community input from our small business owners and support organizations. Ultimately, we heard their message loud and clear: put more money in the hands of local small businesses," said Manny Pelaez, Chair of the Economic and Workforce Development Committee and District 8 Councilman. "I feel confident that we have a solid plan that will effectively meet the requests of our local business community. Thank you to all the business owners who took the time to help to shape this outcome by sharing their experiences and struggles."

The Small Business Recovery Plan features:

Access to Capital - $20.625 Million: Provides much needed flexible capital, a resource identified as one of the greatest needs of small businesses.

More on Txylo.com
Capacity Building - $1.45 Million: Creates opportunity for small businesses to strengthen capabilities such as web presence and administrative support for long-term success and growth.

Ecosystem Enhancements - $3 Million: Addresses structural barriers in access to flexible capital, sustainability and resiliency, access and networks, and ecosystem coordination to create opportunities for small business owners and provide a safety net for future economic downturns.

Localism - $625,000: Fosters growth of demand for locally made products and services by supporting the production and consumption of local goods while promoting local history, culture and identify.

Geographic Placemaking - $5.25 Million: Establishing a framework to create connected, vibrant, and inclusive communities through transformative placemaking. As defined by Brookings, transformative placemaking "aims to nurture an economic ecosystem that is regionally connected, innovative, and rooted in the assets of its residents and businesses.

Background

On February 3, 2022, City Council approved the spending framework for local fiscal recovery funds received by the City of San Antonio through the American Rescue Plan Act (ARPA). This framework included $30.95 million for small businesses. Funding was allocated after a comprehensive community outreach effort that included a city-wide effort as well as public comment at three Small Business Advisory Commission (SBAC) Listening Sessions and a small business survey.

Filed Under: Government, City

Show All News | Report Violation

0 Comments

Latest on Txylo.com