SAN ANTONIO — More help is on the way for small businesses in San Antonio and Bexar County.
The Paycheck Protection Program (PPP) is back after Congress approved $284 billion in funding last month. This program offers forgivable loans to businesses to help with covering payroll for employees and eligible business expenses.
During the daily briefing Monday night, Mayor Ron Nirenberg said certain business owners will get first dibs.
"Recognizing the need to get funding to smaller businesses and those owned by people of color, the Small Business Administration has implemented new, targeted guidance to ensure funding reaches those who need it most," Mayor Nirenberg said.
Businesses that borrowed through this program earlier in the pandemic can apply for a second time. There is also money set aside for first-time borrowers.
The rules prioritize SBA's receipt of loan applicants from community financial institutions that work with smaller businesses and those owned by women, minorities and veterans.
The PPP application portal opened this morning for community financial institutions in Texas. Those include Lift Fund, People Fund and BCL of Texas.
Mayor Nirenberg said small business owners should reach out to one of these organizations to apply for a loan.
He added that beginning Wednesday, all other banks and financial institutions will be able to submit applications.
There are also plenty of local resources for small business owners that can be found here. You can also call 210-458-2272 or email email@example.com for more assistance.