Residents and small businesses are struggling due to the COVID-19 pandemic and we want to help. The Alamo EDC has partnered with the City of Alamo to help residents and small businesses through these troubling times by bringing back the Alamo COVID-19 Assistance Program! If you haven’t heard about it and need some info, then read on!
Helping Small Businesses
The Alamo COVID-19 Assistance Program, or ACAP, offers financial assistance for operating expenses and mortgage relief to small businesses. Business owners can apply for up to four months of operating expenses with a maximum assistance payment of $5,000!
To qualify, the following must apply:
- The business must be located in Alamo.
- At least 51% of the business must be owned by a U.S. citizen or legal resident.
- The business must be independently owned and operated.
- This business must’ve been operating for at least six consecutive months.
- The business must be up-to-date on all property taxes, sales taxes, city codes, and ordinances.
- The business must be located in a commercial plaza, shopping center, or within a stand-alone building. Home-based businesses are not eligible.
ACAP can help residents of Alamo by providing funds for rent or mortgage payments for up to four months with a maximum payout of $5,000. To be eligible, residents must:
- Live in Alamo.
- Prove that their current address began on or before March 1, 2020.
- Prove their need for ACAP funds by showing loss of income, reduced working hours, or loss of work.
Only one ACAP award will be granted to each qualifying household and cannot have a combined income of over $60,000. Since ACAP began on July 30th, it has awarded 45 business owners and 49 households with over $340,000! Funds are limited and are on a first-come, first-serve basis.
The last day to register for this program is Friday, September 11th. Due to COVID-19, we ask that applicants call first at (956) 787-6622 or contact us online.