The City of Laredo Small Business Grant Program will provide financial support in the form of grants to micro and small business owners impacted by the pandemic to strengthen the Laredo small business community. The program, funded by the City of Laredo and administered by LiftFund, has dedicated $1.84 Million in funding to support for-profit small businesses with grants up to $25,000.
The grants will range from $5,000 to $25,000 to eligible micro and small for-profit businesses. Maximum grant amount is based on number of full-time equivalent employees (including full-time, part-time, contractors and owners) in the 4th quarter of 2021. The funds must be used for business-related expenses, including payroll, working capital, business rent, inventory, supplies, equipment, and other operating costs.
The City of Laredo Small Business Grant Program is not first come first served. All applications will be reviewed based on stated and verified business information and business operations.
The following limitations apply:
To be eligible for this program, businesses must:
Non-profit organizations, gambling businesses, speculative real estate investors, government entities and sexually oriented businesses are not eligible. You can view the list of prohibited NAICS codes here.
Grant funds will not be awarded on a first-come, first-served basis. Applications will be assessed and scored based on the four components below. The maximum score is 110. Applications with the highest scores within each city zip code (78040, 78041, 78043, 78045, 78046) will be reviewed and approved first.
Previous Access to Financial Support
The City of Laredo Small Business Grant program will accept applications online beginning Monday, March 14, 2022 at 9:00 AM CST and through Tuesday, April 1, 2022 at 5:00 PM CST.
Applicants will have the ability to create a profile and save their progress during the application period. To be considered for funding, applications must be completed and submitted along with all the documentation required for verification before 4:59:59 PM CST on Tuesday, April 1, 2022.
Applicants may schedule a virtual or phone appointment with LiftFund staff for assistance submitting the application. Applicants will receive an email confirmation when they submit an application.
The application review period will start on April 4, 2022 and continue through May 20, 2022. All grants will be awarded by May 31, 2022.
Applicants will be informed of their grant status via email and/or U.S. Mail every 30 days. Selected recipients will be notified of approval and accept the grant via Docusign email. Applicants should monitor their inbox and spam folder carefully for messages from LiftFund staff.
Grant funds will be deposited into recipients’ accounts by ACH within 10 business days of signing Docusign award agreement. Incorrect bank information in the Docusign will delay deposit of funds.
All businesses awarded a grant through the City of Laredo Small Business Grant program will be required to complete follow-up surveys in the months of December 2022 and November 2023. Grant recipients must keep detailed receipts for expenditure of grant funds and staff and payroll records.
In addition to the grant funds, grant recipients will have access to ongoing business education webinars to further support their efforts to stabilize and strengthen their businesses.
Yes, as long as your business is registered with a DBA.
No, revenue must be less than $2 million in both 2019 and 2020.
Please attach copies of a payroll report for 4th quarter 2021.
No, your business must be physically located in the city.
No, you may only submit one application for one business.
You are welcome to get assistance in completing the application from a third party, however, the business owner should submit their own application and the contact info listed should be for the owner.
If you reported income from your current business on your schedule C in 2019 and 2020, you may file a DBA at this time and be considered. The business must be registered to be considered.
You will be asked to submit a current business utility bill as part of the application.
You can submit a copy of your business lease agreement.
Yes, please call 800-923-9551 to speak with a grant specialist to help you submit your application. If you prefer to meet in person, please call Gina Palma at (956) 277-2622 to schedule an appointment.