MISSION, Texas (ValleyCentral) — The Mission Economic Development Cooperation (EDC) has relaunched a program to retain and expand local businesses in the area.
Ruby Red Ventures is a legacy program by Mission EDC focused on aiding small businesses.
The program first launched in 2013 and has awarded about $600,000 to nearly 40 local businesses in the Mission area since.
Local businesses in Mission can apply for the 2023 Ruby Red Ventures grant to receive up to $15,000 for facility improvements, expansions, and working capital.
“Small business owners just need to apply,” Mission EDC CEO Teclo J. Garcia said. “This community investment is going to directly impact Mission’s backbone: small businesses.”
Mission EDC has listed the following requirements in order for a local business to qualify for a grant:
- Must be located within Mission city limits
- Must have fewer than 30 employees
- Must produce less than $1 million in annual revenue
- Must be legally registered and in good standing with local tax entities
- Must be in operation for at least two years
- Must possess tax returns for 2021 and 2022
Applicants must also provide Mission EDC a detailed project plan with verified cost
estimates and a timeline of proposed improvements.
Local businesses can submit their applications online starting Wednesday, Nov. 1.
Applications will close Thursday, Nov. 30.