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Harris County Judge Lina Hidalgo announced on Aug. 10 a new infusion of cash totaling $30 million to help small business in Texas during the hard times of the COVID-19 pandemic.
The funding was approved by the Harris County Commission.
"The people behind our small businesses are dreamers, risk-takers and drivers of the American Dream,” Hidalgo said in a tweet. “We have to nurture that spirit, especially in the hard times. We just approved $30 million in small business assistance to be administered in $5,000 to $25,000 grants. Stay tuned for more."
A Click 2 Houston report said the money would come from the federal American Rescue Plan Act (ARPA) and would be overseen by LiftFund, a nonprofit community development financing entity based in San Antonio.
“Running a small business is a huge challenge, even during the good times,” Hidalgo said in the Click 2 report. “The personal sacrifices that small business owners make day in and day out for their community are huge and we owe it to them to support them as we make it through the COVID-19 crisis and the associated economic challenges.”
Hidalgo added the money is especially welcome to businesses struggling through the pandemic including those owned by women and minorities. Also those business owners who operate in low-income neighborhoods or have been hit particularly hard by the pandemic will be given preference.
Businesses will be selected on a scoring system.
Business owners can apply for the funds beginning on Sept. 20. Low-income business owners will be given priority.
Click 2 said the LiftFund program is intended to help businesses as well as businesses owned by women, minorities and military veterans. The nonprofit makes loans through the Small Business Association (SBA) including SB micro-loans, 504 loans and SBA Community Advantage programs.
Additional information is available at LiftFund.com.