August 12, 2021
Harris County approves $ 30 million covide grant for eligible micro and small business owners to receive up to $ 25,000 in funding
Houston, TX-Harris County approves new $ 30 million grant to support small and micro businesses recovering from the Covide-19 epidemic. The Small Business Rehabilitation Fund is funded by the US Rescue Plan (ARPA) and is managed by LiftFund, a non-profit community development financial institution. Qualified small business owners can apply for a grant of $ 5,000 to $ 25,000. The impact of the epidemic in Harris County reflects the devastation of small and micro businesses across the United States for a year and a half. Many small businesses in the county were forced to close, while others approved cuts and reduced working hours. The $ 30 million fund is a continuation of Harris County funding for small businesses out of these barriers. Since the outbreak began in the spring of 2020, Harris County has provided $ 40 million in support to micro and small businesses. Harris County Commissioners and LiftFund have seen the devastating effects of the epidemic on small businesses across Great Houston. The plague has had a devastating effect on the Houston economy, and small businesses, from restaurants to stores, are struggling to keep their doors open. Harris County Judge Lina Hidalgo said: “We, our small business owners, are struggling to survive the epidemic, and this is a necessary incentive for the $ 30 million investment.” “We want more than just living for these professionals and entrepreneurs. We want them to thrive, expand, and strengthen Harris County’s reputation as an innovator for entrepreneurship. Campus Commissioner Rodney Ellis, for his part, said: “Access to these subsidies gives MWBEs – who have worked hard to keep their doors open since the outbreak – a real opportunity to overcome the common obstacles they face. By helping small businesses open their doors, we help families who rely on those small businesses pay their rent and utilities and put food on the table. Ellis said. “Small businesses, especially those in color communities, have been badly affected by the epidemic,” said Pre-2 Commissioner Adrian Garcia. “I am particularly concerned about businesses in Camp 2, which is why I have offered to help strong small businesses learn how to apply for new small business grants. The program and partnership will help many small businesses stay financially viable and stay the backbone of our local economy. Camp 3 Commissioner Tom Ramsey, PA, expressed optimism about the ability of the fund to avoid further economic damage to small businesses in Harris County. “I am pleased that our recovery funds are supporting our small business community,” Ramsey said. Small business owners will continue to face the economic impact of the epidemic and this program will support their recovery. Supporting small businesses will have a detrimental effect on the overall economy, said Princet 4 Commissioner R. Jack Cagle. “(Small businesses) create jobs and provide essential products and services in our community,” said Cagle. The new Small Business Recovery Fund will strengthen not only small businesses but also our neighborhoods. LiftFund, a nonprofit small business champion, supports small business owners with access to capital through small business loans and business education. A.D. By 2020, LiftFund will provide more than $ 98 million in assistance to 15 states, including zero-to-interest loans and grants, including low-interest loans and grants – more than $ 6.1 million to Harris County small business owners. Mickey Bruns Clay, vice president of Lift Fund East Texas Loan, shared her joy in working with the county to support the small business community. “We are proud to partner with Harris County to provide financial assistance to small business owners to overcome the many challenges posed by the epidemic and accelerate their journey to sustainable recovery,” said Bruns Clay.
More information about the application process, eligibility guidelines and application link will be provided in the future.
Harris County Small Business Recovery – Frequently Asked Questions What is the Harris County Small Business Recovery Fund?
The new Small Business Recovery Fund will provide $ 30 million to micro and small business owners throughout Harris County to increase their economic resilience from the COVID-19 epidemic. The money was created with the help of the American Rescue Plan (ARPA) and is administered by LiftFund, a non-profit community development financial institution.
What is the financial support of this program?
Qualified small business owners can apply for a grant of $ 5,000 to $ 25,000. How many businesses are supported by this program? We expect about 2,000 micro and small businesses to help.
What is the application process?
Applications will be accepted online for two weeks Monday, September 20 through October 4.
Does the application process accommodate business owners who face technology or language barriers?
Yes. LiftFund and other local community organizations help applicants navigate the application process and overcome technology or language barriers. More information about partner organizations will be available on the program page from the end of August.
How can a business qualify for Harris County Small Business Recovery Fund?
Eligibility guidelines will be provided for the program beginning at the end of August.
Who is LiftFund?
LiftFund is a 27-year non-profit community development financial institution with a record of 15 years of empowering disadvantaged and disadvantaged communities. Since 1994, LiftFund has provided more than $ 409 million in financial support and business education to small business owners and job seekers. A.D. By 2020, LiftFund will provide more than $ 98.2 million in cash assistance to small business owners affected by COVID-19, including grants, small business grants, and PPP loans.
Does LiftFund have the experience to serve the small business community?
LiftFund has deep roots in Harris County and is a champion for our small business association. Since 1998, LiftFund has provided more than $ 68.7 million in capital and more than 4,300 business loans to East Texas small business owners and entrepreneurs, 81% of whom are Black, Indigenous and Color People (BIPOC).
This press release was produced by the Clear Lake Area Chamber of Commerce. The views expressed herein are those of the author.