BCIC Announces the Relaunch of the Brownsville Small Business Recovery Fund

BROWNSVILLE, TEXAS, May 22, 2023 — The Brownsville Community Improvement Corporation (BCIC) is excited to announce the relaunch of its successful Small Business Recovery Fund program, formerly known as the “ReOpen for Business Assistance program.” The program will continue to provide critical support to local businesses impacted by the COVID-19 pandemic with forgivable micro-loans for up to $20,000.

Recognizing the changing landscape and the need for financial support beyond the initial reopening phases, BCIC has rebranded the program. The goal is to ensure that more local businesses understand that funding is available to assist them not only in reopening but also in maintaining operations during these challenging times.

The program offers up to $20,000 micro-loans at a 0% interest rate to help for-profit businesses cover operating expenses. These loans are designed to support businesses with up to 50 employees, particularly those with low to moderate income.

“Local small businesses are the heart of our community’s economy. As we navigate the aftermath of a tough public health crisis, our dedication to supporting them is stronger than ever,” said Victoria Padron, Director of Economic Development Finance at BCIC. “We have a simple application process, and our team is here to guide you through it. Additionally, these loans are designed to be easily forgiven, providing extra financial relief for businesses,” added the program coordinator.

Through this program, BCIC has awarded $520,000 in assistance since the beginning of the pandemic in 2020, and $568,667 in funds are still available. The Brownsville Small Business Recovery Fund application period will be open until December 1, 2023, or until the maximum number of applications is reached. Due to high demand, BCIC recommends that interested businesses apply as soon as possible, as funds may be depleted before the deadline.

For more information or to apply, visit our online portal, https://brownsvilleedc.org/recovery, or contact Victoria Padron at vpadron@bcic.us