San Antonio City Council approves $31 million to help small businesses recover from pandemic

City council has approved allocation of $30.95 million in funds from the federal American Rescue Plan Act (ARPA) help small businesses recover from the lingering fallout from the COVID-19 pandemic.

The plan, approved Thursday, provides short-term relief through $17 million in direct grants to small businesses hardest hit by the pandemic. Those grants will be administered by LiftFund US, a nonprofit that helps startups and entrepreneurs obtain small-business loans, SBA loans and microloans.

“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 said. “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 plan to spend the federal funds was crafted with public input from the city’s Small Business Advisory Commission, a survey of local small business owners and feedback from the community and council.

According to city officials, the plan includes:

• $20.625 million in access to flexible capital.
• $1.45 million to help small businesses strengthen capabilities such as web presence and administrative support.
• $3 million to addresses structural barriers hindering small businesses and to create a safety net for future economic downturns.
• $625,000 to help grow demand for locally made products and services.
• $5.25 million to foster a “framework to create connected, vibrant and inclusive communities through transformative placemaking.”

The grant application period will be open Aug. 1-22. City officials will provide more information about how to apply for the funds in coming months.

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This article appears in Jun 15-28, 2022.