Businesses in McAllen now have an additional funding opportunity to rebuild and develop new opportunities. The McAllen Small Business Support Fund has a total of $4 million to assist small businesses within City of McAllen limits.
The McAllen Small Business Support Fund will help McAllen businesses adopt safer operating procedures and weather periods of closure. It will also mitigate financial hardship resulting from the COVID-19 public health emergency. The funds will enable the restart of activities to help reinstate, expand and grow existing McAllen businesses.
Assistance will target small businesses facing financial insecurity. This includes substantial declines in gross receipts or facing other economic harm due to the pandemic. Businesses with less capacity to weather financial hardship are also eligible, such as those with less access to credit. The City of McAllen defines “small business” as a business that has less than 100 employees and no more than $3 million in gross receipts.
All payments go to the vendor/supplier directly from the McAllen Chamber of Commerce. No reimbursements will go to the awarded business or owner(s) even if it’s a valid expense. Businesses who are on the waiting list but who were not assisted from the initial allocation of the McAllen COVID-19 Small Business Fund as well businesses who have not received any assistance from this same fund shall take priority. Funds will be allocated on a first-come-first-served basis until the funds are depleted.