The City of New Braunfels has approved the formation of a grant program to assist small businesses in the area who have been hurt financially as a result of COVID-19. The application period for the grant will only last one week, June 15 – June 19. Grantees may receive up to $10,000 or 15% of their prior year’s operating expenses, whichever is less. The grant funding can be used for multiple different business purposes but must be used within 90 days of receiving.
Eligible business must meet all of the following criteria:
- Business operations must be physically located within the City Limits of the City of New Braunfels
- Business must have been in operation prior to March 1, 2019
- Business must have employed fewer than 50 full-time equivalent employees as of May 31, 2020
- Business must have applied for either Payroll Protection Program (PPP) funds or Economic Injury Disaster Loan (EIDL) funds