McAllen Chamber of Commerce Small Business Grant
The McAllen Chamber of Commerce Small Business Grant is designed to assist and foster small business growth or expansion. Participates will gain an opportunity to better understand realistic business plan and to qualify for a grant of $25,000 grant. The grant does not have to be repaid. Small Business is being defined as 50 or less (full time equivalent) employees.
The applicant must submit a business plan no more than 20 pages to the McAllen Chamber of Commerce. Plans are due by September 14, 2007. Five impartial members of a review panel will evaluate all business plans submitted. The panel will select finalist that will make a 20-minutes presentation to the panel and answer questions. The grant award is a competitive process and based on the most viable business plan. The Panel will vote and make final recommendations to the Board of Directors of McAllen Chamber of Commerce. The McAllen Chamber of Commerce Board will make the final vote.
Entrants must have an established business, with 50% of sales coming from outside Hidalgo County. The award is a grant and does not have to be paid back. The money can be used for a wide range of purposes as long as it stays within the business.
The maximum that can be awarded is $25,000 and the minimum is $1,000. Each applicant must request a specific amount of funding and fully justify the request. The number of new jobs is a factor in consideration. The panel will have the desecretion to award more or less than amounted requested. Again, the grant request must be specific, itemized and justified by the business plan.
People who have filed for business or personal bankruptcy (within the last seven years) are not eligible to receive the grant. People convicted of a felony or a class A or B misdemeanor are not eligible for the grant. Applicants must have an acceptable credit rating. Relatives of the panel members, Chamber Board Members, McAllen City Commission and/or employees of the McAllen Chamber of Commerce and relatives are not eligible.
Registration forms can be picked up the McAllen Chamber of Commerce. Applicants must fill out the registration form and return it to the McAllen Chamber by 5:00 p.m. on September 14, 2007. The registration must include credit release that allows the McAllen Chamber to conduct a personal and/or business credit history check.
Business Plan Format
Release Forms