The Hidalgo County Cares Small Business Grant Program has amended the requirements and criteria to apply for assistance, the county announced in a Thursday news release.
“The new amendments will allow more flexibility on the qualifying criteria,” Hidalgo County Economic Development Director Laura Matamoros said in the news release.
The program was created to financially assist rural county businesses affected by the COVID-19 pandemic. Trough the CARES Act, Hidalgo County has increased the funds for the grants from $5,000 and $3,000 to $5,000 and $10,000 to provide over 700 small business grants to qualifying businesses.
Businesses that have received the Payment Protection Program (PPP) loan or other federal, state and local assistance are now eligible to apply.
Eligible businesses must meet the new 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 10% 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 $250,000 but no less than $10,000.
The amount a business can receive will be based on their annual net income.
· Total annual net income of $250,000-$150,000 is eligible for a $10,000 grant
· Total annual net income of $149,999 – $10,000 is eligible for a $5,000 grant
Applications are currently being accepted. 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 email@example.com.