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Chamber's Small-Business Grant Program Provides Boost to Area Enterprises

The McAllen Chamber

The McAllen Chamber of Commerce’s newest grant program encourages small-business growth.

Small businesses in and around McAllen have a new source of financing‚ thanks to the McAllen Chamber of Commerce.

After the success of its new Innovation Grant program‚ the Chamber has launched the Small Business Grant effort‚ which is closely modeled after the innovation grants setup.

But while the innovation grants are designed to help an existing business with “the next new idea‚” says Steve Ahlenius‚ president of the McAllen Chamber‚ the small business grant program “is much more targeted at small businesses. They’re 95 percent of our membership‚ and we wanted to do programs that would be of benefit to them.”

With $25‚000 in non-repayable funds up for grabs‚ Ahlenius says he expects to see a lot of interest in the new grant.

“We had between 10 and 15 applicants for the innovation grant‚ and we awarded three $10‚000 grants‚” Ahlenius says. “And we’re looking at doing a second round of that process beginning in the spring of 2008. We think the small business grant program will be just as successful.”

Entrants must have an established business‚ with 50 percent of sales coming from outside Hidalgo County. The grant money can be used for nearly any purpose that is related to further developing the business.

The call for business plans ended in September 2007‚ after which a five-person review panel began the evaluation process and selected finalists. The business leaders who were selected then were required to make 20-minute presentations‚ each complete with a question-and-answer session. After that‚ the panel made recommendations to the Chamber’s board‚ which makes the final decisions on awarding funds.

“The amount can vary; a person may only need $15‚000‚ and the panel may decide to award them the entire $25‚000 that’s available‚” Ahlenius says. “If it’s a really good idea‚ then the board’s definitely going to do what it takes to help make it work.”

Whoever comes out the winner‚ the fact that that Chamber has now created two different business-friendly grant programs in as many years says volumes about how the organization listens to its members and makes significant efforts to be proactive‚ Ahlenius says.

“We’re coming from a place where we want to figure how we foster innovation and creativity‚” he says. “We’ve got the innovation grant and our creative incubator‚ but how do we foster entrepreneurs and small businesses? There’s money out there for them through the SBA‚ but that has to be paid back. This is something that can be used to expand the business and doesn’t have to be paid back. This is a great way for us to invest in our business here‚ to create jobs‚ create economic opportunity and create wealth.”

Story by Joe Morris
Photo by staff

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