Hidalgo County is beginning to take applications to their newly-launched Hidalgo County Cares Small Business Grant Program.
The grant program aims to to assist rural county businesses affected by the COVID-19 pandemic, said Economic Development Director Laura Matamoros in a Monday news release.
Through the CARES Act, Hidalgo County will provide over 1,000 small business grants in the amounts of $3,000 and $5,000 to qualifying businesses.
“The ongoing pandemic has created economic hardship to many of our small businesses,” Matamoros stated in the release. “These grants will allow owners to infuse some much-needed money into their businesses.”
This initiative will be conducted with support from PeopleFund, a Texas non-profit community lender, that will help small business owners complete their applications.
“We are excited to join Hidalgo County’s efforts in not leaving small businesses behind in this crisis.” said Gustavo Lasala, President and CEO of PeopleFund.
The grants are available on a first come, first serve basis. Applicants will need to provide proof that they have been impacted due to COVID-19. Incomplete applications will be rejected.
Eligible businesses must meet the following criteria:
- Businesses must be located in the unincorporated area of Hidalgo County. Businesses located within city limits of any city in Hidalgo County do not qualify.
- Businesses must be able to demonstrate that they have experienced a loss of income of at least 15% due to COVID-19 since March 2020.
- Businesses must demonstrate that they were in operations as of October 1, 2019.
- Businesses must have a total annual net income under $100,000 but no less than $10,000.
The amount a business can receive will be based on their annual net income with businesses making an annual net income of $10,000- $49,999 eligible for a $3,000 grant. Businesses with a total annual net income between $50,000 – $100,000 are eligible for a $5,000 grant
Small businesses can apply online at www.hidalgocares.org/SmallBusinessGrantProgram. If a small business owner has questions about the application, they can call 956-238-3532 from 9 a.m. – 5 p.m. Monday – Friday, or email firstname.lastname@example.org.