The EDC Board of Directors will entertain all incentive opportunities. Please contact Asst. Director Glenn Goolsby by telephone at 210.695.5910 or by email at
firstname.lastname@example.org should you have development or business proposals.
For additional information on prior incentives offered to the development community, please visit the City's Economic Development
Federal Small Business Assistance Programs
SBA Paycheck Protection Program (PPP)
The Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act passed on December 21, 2020 is the fourth and latest package enacted to provide continuing economic relief from the COVID-19 pandemic. Included in this package is the
new round of Paycheck Protection Program loans (PPP2). The goal of the PPP2 is to get this money to those that need it the most. The application deadline has been extended until May 31, 2021, but it is advised to speak to your SBA 7 (a) lender as soon as possible.
In order to receive a PPP2 loan, eligible entities must:
- Employ not more than 300 employees.
- Have used or will use the full amount of their PPP; and
- Demonstrate at least a 25% reduction in gross receipts in any quarter of 2020 relative to the same 2019 quarter.
- Businesses that were not in operation in Q1, Q2, Q3 and Q4 of 2019; pro-rata based on days open.
- Business must have been open February 2020 or earlier.
Loan terms for PPP2:
- Loan amount of up to 2.5 times the average monthly payroll for 2019 or prior trailing 12 months.
- No loan can be greater than $2 million.
- Covered period - choose between eight and 24 weeks.
As with PPP1, the costs eligible for loan forgiveness in PPP2 include payroll, rent, covered mortgage interest, and utilities.
Loan forgiveness for PPP2:
- Covered operations expenditures. Software, cloud computing and other HR accounting needs.
- Covered supplier costs. Expenditures essential to the recipient’s current operations.
- Covered worker protection expenditure. PPE and costs to comply with COVID-19 federal health and safety guidelines.
- Employer-provided group insurance benefits are included in payroll costs. This includes, group life, disability, vision, or dental insurance.
Must still meet the 60/40 rule: 60% on payroll and 40% other expenditures.
Simplified application for loan of $150,000 or less:
- Creates a simplified forgiveness application process for PPP loans of $150,000 or less. Specifically, a borrower shall receive forgiveness if a borrower signs and submits to the lender a certification that is not more than one page in length, includes a description of the number of employees the borrower was able to retain because of the loan, the estimated total amount of the loan spent on payroll costs, and the total loan amount. The SBA must create the simplified application form within 24 days of the bill’s enactment and may not require additional materials unless necessary to substantiate revenue loss requirements or satisfy relevant statutory or regulatory requirements. Borrowers are required to retain relevant records related to employment for four years and other records for three years, as the SBA may review and audit these loans to check for fraud.
- Repeals the requirement that PPP1 and PPP2 borrowers deduct the amount of any EIDL advance from their PPP forgiveness amount.
- Includes set-asides to support first- and second-time PPP borrowers with 10 or fewer employees, first-time PPP borrowers that have recently been made eligible, and for loans made by community lenders.
Other PPP-related changes:
- PPP loans are tax exempt income; favorable change from previous IRS guidance
- EIDL grants will not impact forgiveness
- Ability to request an increase in initial PPP loan if incorrect first time
- Borrowers who returned all or part of loan may reapply if they have not received forgiveness
- Grants for live venues and movie theaters are available - they are not eligible for both the grant and PPP.
For more information on this program, please
SBA Economic Injury Disaster Loans (EIDL) & Grants
The new law reopens the $10,000 EIDL Grant program. Priority for the full amount of the EIDL grant will be given to small businesses with less than 300 employees, located in low-income neighborhoods, who have experienced a 30% reduction in gross receipts during any 8-week period between March 2, and December 31, 2020 compared to a comparable 8-week period before March 2. If you meet this description and received a grant that is less than $10,000 you can reapply to receive the difference.
For more information or to apply for the loan, please click here.
Restaurant Revitalization Fund (RRF):
The American Rescue Plan Act of 2021 (Act), a $1.9 trillion stimulus bill included $28.6 billion to establish a Restaurant Revitalization Fund. The program will be administered directly through the Small Business Administration (SBA) to make grants of up to $10 million to eligible entities and their affiliated businesses to cover pandemic-related losses. "Eligible entities" are broadly defined as businesses where "the public or patrons assemble for the primary purpose of being served food or drink" and include:
Shuttered Venue Operators Grant (SVOG):
Eligible applicants may qualify for grants equal to 45% of their gross earned revenue, with the maximum amount available for a single grant award of $10 million. $2 billion is reserved for eligible applications with up to 50 full-time employees.
Eligible entities include:
- Live venue operators or promoters
- Theatrical producers
- Live performing arts organization operators
- Relevant museum operators, zoos and aquariums who meet specific criteria
- Motion picture theater operators
- Talent representatives
- Each business entity owned by an eligible entity that also meets the eligibility requirements
Other requirements of note:
- Must have been in operation as of February 29, 2020
- Venue or promoter who received a PPP loan on or after December 27, 2020, will have the SVOG reduced by the PPP loan amount
Go to the SVOG Portal link for more info https://www.svograntportal.sba.gov/s/https://www.svograntportal.sba.gov/s/
SBA Express Bridge Loans
These loans allow small business who currently have a business relationship with an SBA Express Lender to access up to $25,000 with less paperwork. These loans can be used to bridge the gap while applying for a direct EIDL described above. If a small business has an urgent need for cash while waiting for decision and disbursement on Economic Injury Disaster Loan, they may qualify for an SBA Express Disaster Bridge Loan.
Find an Express Bridge Loan Lender by contacting the local SBA District office at 210-403-5900, by email at email@example.com or visit their San Antonio district’s website here.
Existing SBA Borrower Debt Relief
The SBA Debt Relief program will provide a reprieve to small businesses as they overcome the challenges created by this health crisis.
Under this program:
- The SBA will also pay the principal and interest of new 7(a) loans issued prior to September 27, 2020.
- The SBA will pay the principal and interest of current 7(a) loans for a period of six months.
For helpful information on gathering documents needed to apply for SBA assistance, please
Office of the Governor-Economic Development - Coronavirus Information
NFIB: Small Business Resources
US Chamber of Commerce - Combating the Coronavirus
Score - How Small Businesses Can Prepare for Coronavirus
Score - Coronavirus Economic Impact and Business Interruption Insurance
Council of Development Finance Agencies-COVID-19 Resource Center
Texas Department of Agriculture-COVID-19 Resource Guide
Texas General Land Office-Disaster Recovery
Texas Comptroller's Office-Emergency News