The City of Austin has posted preliminary metrics taken from applications for the Small Business Relief Grant Program, which closes tomorrow, July 24 at 5PM. As of Tuesday evening, July 21, there were 1,333 applicants. 67% of these businesses have been partially operating during the pandemic, 22% have been completely closed, and 11% have been fully operational. The vast majority (784 applicants) are LLC’s, with 231 being sole proprietors and 237 operating under a different business structure. 1,105 applicants have received some other form of recovery funding, reporting an average of 6.9 employees with an average annual revenue of $974,000.
44% of businesses applying for funding have been in business for five years or under, 24% for six to ten years, 17% for ten to twenty years, 10% for over twenty years, and 4.35% for less than a year. 49% of executives applying are white, 18% are Asian, 14% are Hispanic/Latino, 7% are Black/African American, and 5% prefer not to answer. 700 executives are male and 606 are female. 440 applicants are between the ages of 30-39, 436 are between the ages of 40-49, 255 are between the ages of 50-59, 139 are over 60, 55 are between the ages of 20-29, and 8 prefer not to answer.
The top ten industries applying for the grant are, in order: Restaurants, Commercial Kitchens, Bars (268); Personal Care Services such as Barbers, Salons, Nail Salons, etc. (149); Arts, Entertainment, Recreation (145); Other Services (137); Retail (118); Health Care and Social Assistance (112); Professional, Scientific, and Technical Services (77); Educational Services (70); Information, Software, Telecommunications, Media, etc. (43) and Finance, Insurance, Real Estate Rental and Leasing (42).
You still have a little over 24 hours to apply for this grant. If you are unsure if your business qualifies, take a minute to go over the eligibility criteria and grant FAQ, which has been updated with a list of questions received from businesses (refresh your browser window!) This page also contains charts of the metrics mentioned above. If you still have questions after reviewing the grant information page, don’t hesitate to reach out to the Better Business Bureau, who is administering the grant. They can be reached at 512-318-2683 and businessreliefgrant@austin.bbb.org. You can also reach out to us at for assistance at hello@ibuyaustin.com .
Gather your documentation, take a deep breath, and good luck!