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A second round of grant funding is being given to McLennan County small businesses

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Posted at 7:24 AM, Jun 30, 2020
and last updated 2020-06-30 08:24:30-04

WACO, TX — The Small Business Recovery Fund is accepting applications once again for those small businesses in Mclennan County struggling during the pandemic.

Business can be granted up to $5,000 to help makes ends meet with things like rent or payroll.

The money comes from a combination of funding from the Waco-McLennan County Economic Development Corporation and U.S. Department of Housing and Urban Development.

In the first round of funding $416,000 was given to 145 small businesses in McLennan County.

When more than 700 businesses applied, the City of Waco knew a second round of funding needed to take place.

In the beginning, they had $830,000 dollars in grant funding to give to local, small businesses.

"Right now we have a balance of a little bit over 400 thousand dollars left we hope to assist at least 80 business but hopefully we can assist as many businesses as we can," Housing and Code Enforcement Director, Galen Price said.

Price is happy to see the community come together in a time of crisis. "We've had business who have received funding reach out to other businesses and inform them of the opportunities that may be available for them as well," Price said.

Some stipulations to remember when applying; the business has to be located within McLennan County. They have to have fewer than 10 employees and have experienced some loss due to COVID-19. The business also has to have been in operation since February 15, 2020.

Applications will be accepted until July 13th.

If you are a small business and looking for help you can apply for the Small Business Recovery Fund here.