BUDA, Texas (KXAN)– More help is coming to more small businesses in Buda.
This week, Buda’s Economic Development Corporation (EDC) approved an additional $250,000 to be put into the Still Budaful Stimulus Program and is removing some application restrictions.
The program initially began in April to help businesses struggling during COVID-19 shutdowns.
EDC Executive Director Traci Anderson says they’ve given out about $300,000 to more than 70 businesses.
Monica Davidson, a volunteer EDC board member, recused herself from the process, and applied.
“We were fortunate enough to be approved for the grant, which kept literally our lights on, our rent paid,” says Davidson, who owns Glow Laser & Beauty medical spa.
She says the funds came at a crucial time.
“Money ran out before I got any federal stimulus,” she explains.
It wasn’t a good place to be for the business owner, since she just opened up about a year and a half ago.
“This has taken a huge toll on our business plan,” says Davidson of the pandemic and resulting shut downs.
But organizers realized many businesses who needed help didn’t qualify under the current parameters requiring businesses to generate sales tax.
“There were a lot of businesses that are great to our community but didn’t necessarily produce sales tax, so it could have been a health industry or someone that does herbal medicines that are a quality of life factor,” Anderson says. “But because we had that restriction of you had to produce or generate sales tax, unfortunately, they were left out of the bunch.”
Starting Monday, May 18, that will no longer be the case.
This week, the corporation decided to launch version “2.0,” loosening restrictions and adding $250,000.
“We’re taking the taxpayer money and investing it back into Buda and Buda businesses,” Anderson says.
Davidson says the $5,000 boost goes beyond business — it’s personal.
“My hometown showed up for me [crying], faster than any other program and I’m very, very grateful,” Davidson says.
The EDC board also approved up to $100,000 to be put in to a 0% interest, forgivable loan program that would also help businesses to the ETJs.
Details of both programs are still being ironed out and Anderson says will be finalized Monday.