City of Laredo Small Business Recovery
Grant Program

Powered By:

UPDATE 9/8/2020

We are currently reviewing submitted grant applications. All applicants will receive a status update by the end of September. If additional information or documents are needed to complete our review of your application, we will reach out during the next two weeks.

This Revive Laredo Fund is intended to support an inclusive and diverse small business environment within the City of Laredo.  The Program is a collaboration between the City of Laredo and LiftFund.

  • Businesses with no more than 20 full time equivalent employees and annual gross revenue up to $1.5 million may apply. 
  • Grants awarded for this program are up to $20,000 per business. Non-profits organizations are not eligible for this program. 
  • Only one grant per business owner is permitted. Different applications for multiple businesses with the same business owner will be declined.

Business Qualifications

The fund is not first come first served. All applications will be reviewed based on stated and verified business information and business operations.

  • Annual gross revenues of not more than $1.5 million from all business activities;
  • Limited to businesses that are located and will remain in the City of Laredo; 
  • Demonstrates a loss of at least 15% of revenue in the period beginning March 1, 2020;
  • Business established prior to August 1, 2019;
  • Business employs at the time of application no more than 20 full time equivalent employees 
  • The following business types are not eligible to apply: gambling or gaming, national franchises, adult establishments, pay day loan or auto loan stores, non-profit organizations 
  • Business which have received the SBA’s PPP loan are not eligible. 

Grant Amounts:

Grant awards are up to $20,000

Grant Document Verification:

  • Business entity formation document through Webb County or Texas Secretary of State; 
  • 2020 bank statements related to business activity from January through July;
  • Payroll documentation with employee listing/count; 
  • IRS Form 941 for 1st and/or 2nd quarter 2020; 
  • Business tax return (2018 or 2019) to determine business revenue;  
  • Valid identification (ID, passport, matricula); 
  • Proof of business location (business utility bill or lease)

All documents must be provided in order for the application to be considered complete. Any applications submitted without documents or incorrect documents will NOT be considered. Applicants have the ability to upload the documents securely and safely through the online application.

Eligible Expenditures:

Businesses may apply for the following expenses associated with re-starting business operations: payroll, lease/mortgage, supplies, inventory, utility, etc.

How to apply:

Applications must be submitted online starting August 24, 2020 at 9:00 AM CST and will be accepted until 5:00 PM CST on September 7, 2020.  All applicants must have an email address to submit and finalize applications. 

Applicants will create an account to apply online. This will allow users to save progress on their applications should they need additional time to fill out the application. 

The application period will be open for 15 days and a review period of 15 days after the application period will be used to review the submitted applications and verify the business qualifies. Please be prepared for a follow up via email or phone from a LiftFund team member. 

Please make sure to keep a note of your user name and password. Click the link below to begin your application:

Timeline:

  • APPLICATION IS CLOSED: IT WAS OPEN FROM August 24, 2020 at 9 a.m. till September 8, 2020 at 12 AM CST
  • Application Assessments and Lottery Timeline: September 9, 2020 to September 25, 2020
  • Awards: September 18, 2020 to October 16, 2020

Grant Follow Up:

All businesses receiving a grant will be required to complete a follow-up survey after the grant is awarded for documentation and impact purposes. Grant recipients must also keep detailed records of 2020-2021 reopening dates, receipts for expenditure of grant funds, and staff and payroll records for review which Webb County/City of Laredo and LiftFund would be able to access.

Checklist:

Number Item Description Gathered/
ready
1 Business Entity Formation Document Document from Laredo County and/or Secretary of State with date of formation
2 Business Tax Return 2018 or 2019 2018 Tax Return Completed or 2019 Tax Return Completed/Stated
3 List of Employees from Payroll System 2020 Payroll System Generated
4 2020 Quarter 1 & 2 IRS 941 form Submitted 941
5 Current State or Federal Identification Current State or Federal ID, not expired
6 Proof of business address Billing verifying business address
7 Business associated bank statements January through July 2020

Award Agreements will be sent via DocuSign and will require:

  • ACH routing information of business bank account
  • Agreement of use of funds signed and completed
  • Testimony and picture

Resources:

Webinar:

8/27/20 | English
9:30 - 10:30 a.m.
9/2/20 | English
2:00 p.m. - 3:00 p.m.
9/2/20 | Spanish
9:30 a.m. - 10:15 a.m.