CONTACT: Caitlin Cowart, Office: 210-207-3996
SAN ANTONIO (June 23, 2022) – Today, City Council approved the allocation of $30.95 million in American Rescue Plan Act (ARPA) funds to launch a small business recovery plan that provides immediate and long-term solutions to help businesses recover from the negative impacts of the pandemic and build a stronger, more resilient economy.
“ARPA funding is a rescue plan but also an opportunity. We are looking for a recovery for our small businesses and for our economy as a whole,” Mayor Ron Nirenberg said. San Antonio.
The Small Business Recovery Plan was developed 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 to 22. Information on how to apply for these grants will be announced soon.
“Federal funding offers the opportunity to build long-term resilience for our small businesses,” said City Manager Erik Walsh. “We want our small businesses to be able to weather unexpected future economic downturns and this stimulus package helps our local economy move in a positive direction.”
The plan also invests funds to provide small businesses with access to flexible capital funds, programs to help businesses build web and business capabilities, creates a coordinated safety net for small businesses, promotes consumer goods and local services and promotes the creation of dynamic small businesses. business communities.
“This plan is the result of extensive community input from our small business owners and supporting organizations. At the end of the day, we heard their message loud and clear: put more money in the hands of local small businesses,” said Manny Pelaez, Chair of the Labor and Economic Development Committee and Councilor to the district 8. “I’m confident we have a solid plan that will effectively meet the demands of our local business community. Thank you to all of the business owners who took the time to help shape this outcome by sharing their experiences and struggles.”
The Small Business Recovery Plan includes:
Access to Capital – $20.625 million: Provides much-needed flexible capital, a resource identified as one of the greatest needs of small businesses.
Capacity building – $1.45 million: Creates an opportunity for small businesses to build capabilities such as web presence and administrative support for long-term success and growth.
Ecosystem improvements – $3 million: Addresses structural barriers to access to flexible capital, sustainability and resilience, access and networks, and ecosystem coordination to create opportunities for small business owners and provide a safety net security for future economic downturns.
Localism – $625,000: Promotes growth in demand for locally made products and services by supporting the production and consumption of local goods while promoting local history, culture and identity.
Geographic Placemaking – $5.25M: Establish a framework for creating connected, vibrant and inclusive communities through the creation of transformative places. As defined by Brookings, creating transformative places “aims to nurture an economic ecosystem that is regionally connected, innovative, and rooted in the assets of its residents and businesses.
On February 3, 2022, the City Council approved the spending framework for local fiscal stimulus funds received by the City of San Antonio through the American Rescue Plan Act (ARPA). This framework provided $30.95 million for small businesses. The funding was allocated after a comprehensive community outreach effort that included a citywide effort as well as public feedback during three Small Business Advisory Board (SBAC) listening sessions and a survey of small enterprises.