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The original item was published from 11/9/2023 11:20:59 AM to 2/10/2024 12:00:04 AM.

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Posted on: November 9, 2023

[ARCHIVED] Minority Business Stabilization Fund Program Available to San Marcos Businesses

MINORITY BUSINESS STABILIZATION FUND

The City of San Marcos is offering minority entrepreneurs and small business owners operating within corporate city limits who were impacted by the COVID-19 pandemic the opportunity to apply for the Minority Business Stabilization Fund Program.

The one-time grant assistance program is funded through the American Rescue Plan Act (ARPA) and offers minority-owned businesses financial help to pay operating costs, payroll, rent, and other eligible expenses including physical improvements to a business space to reopen safely, equipment to comply with public health and safety guidelines, and costs associated with expanding the business to e-commerce sales.

“We are excited to see this program go live and to support businesses that enrich the quality of life and unique culture of our community,” said Economic & Business Development Manager Christian Smith. 

Applicants must meet eligibility requirements to be considered for funding, including continual operation of the business within the corporate limits of San Marcos for at least 12 months before the grant request. A complete application requires applicants to submit a W-9. 

Only one grant award will be disbursed per business. Total possible grant awards range from $1,000 for self-employed entrepreneurs to $10,000 for minority owned businesses that employ up to 25 full-time employees. 

Applications will be reviewed on a first-come, first-served basis. All eligible applications will be reviewed by the Minority Business Stabilization Fund Review Committee and considered while funding is available. For more information and to apply, visit www.sanmarcostx.gov/mbsf.

For media inquiries, contact communicationsinfo@sanmarcostx.gov

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