Help for small businesses and micro-enterprises impacted by the pandemic is available from the U.S. Department of Housing and Urban Development through the Brownsville Community Improvement Corporation, which was recently awarded a $581,667 HUD grant.
A micro-enterprise is defined as having fewer than five employees, while a small business is considered a business with 50 employees or less.
BCIC said the grant is meant to assist local businesses and nonprofits that were forced to temporarily close their doors during the early stages of the pandemic by providing short-term working capital in the form of forgivable loans, and enable those businesses to create or retain low- or moderate-income jobs.
Victoria Padron, BCIC director of economic development finance, described the loans through the Brownsville Micro-Business COVID-19 Relief Grant program as an “investment and commitment to our small businesses and nonprofits who are critical drivers of vitality in our city.”
“This program puts financial relief into the hands of Brownsville’s most impacted local entrepreneurs and organizations so that we can reinvigorate communities on our road to recovery,” she said.
The program provides forgivable loans of up to $10,000 for micro-enterprises and up to $20,000 for small businesses. Each award is meant to help the business or organization create or retain one full-time position for at least six months. To be eligible, the employee must live in Brownsville and earn no more than 80 percent of area median income, according to BCIC.
BCIC President and CEO Josh Mejia said his organization is fostering a growing relationship with HUD to help businesses in the community. The program isn’t just about providing forgivable loans but also teaching local entrepreneurs how to attain capital, a crucial step toward growing a business, he said.
BCIC is also partnering with the University of Texas Rio Grande Valley Entrepreneurship and Commercialization Center to help the city’s workforce and employers respond to the challenges of the pandemic, Mejia said, adding that BCIC has become a “resource and information center” about federal resources for more than 900 businesses in the community.
Grant applications will be available on BCIC’s online portal through noon on March 1 or when the maximum number of applications has been received. Potential applicants should register for a Data Universal Numbering System (DUNS) number and create an account at sam.gov (required by HUD) at the earliest opportunity, said BCIC, which will review each application for eligibility.
Go to brownsvilleedc.org or call (956) 983-9445 to learn more.
