SAN ANTONIO – Small enterprise homeowners in San Antonio struggling to remain afloat are being urged to “take the helm” as they navigate turbulent monetary waters throughout the pandemic.
“Daily is a brand new technique. Daily we by no means know what tomorrow goes to be,” mentioned Arthur Perez, co-owner of Cadeaux, a present store downtown.
Perez and co-owner Doris Pitts are amongst those that have till March 15 to use for HELM, a brand new program created by monetary providers large USAA and LiftFund, a community-based lender.
“It presents mentoring and training and financing and relationship with the neighborhood,” Pitts mentioned.
HELM additionally presents as much as $50,000 in low-interest loans as working capital, together with human capital within the type of professional recommendation, academic programs and mentoring.
However Janie Barrera, president and CEO of LiftFund, mentioned HELM additionally tailors its strategy relying on what the enterprise proprietor thinks might be most helpful.
“Technical help solely, money solely, or each,” Barrera mentioned.
A spokeswoman for LiftFund additionally mentioned, “We encourage all small, minority and veteran enterprise homeowners to use.”
However the $2 million grant from USAA was a part of a three-year, $50 million philanthropic effort to advance racial equality, mentioned Justin Schmitt, assistant vice chairman for USAA company duty.
Schmitt mentioned analysis has proven that “training and employment are a number of the largest areas of drawback for African-People and other people of colour.”
He mentioned USAA got here to LiftFund due to its almost 30-year historical past of serving to underserved communities.
“They are going to be offering significant help to small companies which might be the spine of our neighborhood, a lot of that are minority-owned,” Schmitt mentioned.
Perez mentioned their reward store has tailored by boosting its on-line and social media presence, free native transport and supply, even curb service.
He mentioned given the dearth of parking, Cadeaux now presents valet service.
“I’m the valet man. In order that they stroll in, they store, I valet their automobile upstairs, after which I deliver it again down,” Perez mentioned.
Pitts mentioned she’s desperate to know if she and Perez are accepted into this system.
“I believe that can give us instruments and concepts, contemporary concepts, in order that we are able to proceed to thrive and preserve our doorways open,” Pitts mentioned.
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