The program is intended to provide financial assistance for operational expenses such as payroll, rent, utilities and inventory costs.
Grant amounts will vary based on the applicant’s annual business expenses with the maximum amount being $10,000 per business.
“This grant program provides any of our local small businesses an opportunity to seek some financial relief from the devastating impacts of the shutdowns and reduced operating capacities forced by the COVID-19 pandemic,” said Economic and Community Development Director Jeff Jewell in a press release. “Small business forms the backbone of our local economy and it’s important to provide assistance in any way we can.”
In order to qualify for assistance, for-profit businesses must meet the following criteria:
- The business must be physically located within the city limits of New Braunfels.
- The business must employ fewer than 50 full-time equivalent employees.
- The business must have been in operation prior to March 1, 2019.
- The business cannot be currently involved in bankruptcy proceedings.
- Applicants must be current on property, sales and hotel occupancy taxes and have applied for either an Economic Injury Disaster Loan (EIDL) or a Payroll Protection Program (PPP) loan.
Applicants can review the eligibility requirements and apply online at the city’s website. Applications will be accepted from 8 a.m. on Monday, June 15, through 5 p.m. on Friday, June 19.