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San Angelo Chamber, SBDC outline business outreach as board considers $1M in business recovery aid
Summary
The Development Corporation heard the Chamber and Small Business Development Center describe outreach to 45 firms after the July flood (10 sustained damage) and discussed a $1 million business assistance program; SBDC and partners stressed SBA loan deadlines and a multi‑agency recovery approach.
The San Angelo Development Corporation on Aug. 13 heard detailed outreach and damage assessments from the Chamber of Commerce and the Small Business Development Center as the board proceeded through the public‑hearing phase for a proposed $1 million business recovery program.
Michael Looney, vice president of economic development for the San Angelo Chamber of Commerce, said staff contacted 45 companies in city and county flood zones; 10 suffered damage at varying severity (one inside the city limits and nine outside). Looney described severe industrial impacts at some sites — torn garage doors and equipment moved by the force of water — and said teams from the Small Business Administration and other partners have been surveying damage and coordinating response through the Concho Valley COAD (coordinated agency disaster response).
Looney said the effort focused first on companies that meet the NAICS code criteria for Type B development corporation assistance but that staff has also been contacting other businesses in the flood zone to capture the broader need and to make referrals when CoCDC funds cannot be used.
Representatives with the Small Business Development Center and partners described available options for businesses: LiftFund grants (a CDFI program noted in the meeting), 0% short‑term loans enabled through a state program, SBA physical disaster loans (individual assistance) and economic injury disaster loans for longer‑term economic harm. SBDC staff emphasized outreach to educate businesses on the difference between grants and loans and noted the Sept. 4 deadline for physical disaster loan applications referenced in the meeting.
Board members raised concerns about businesses located inside the FEMA floodway who may not be able to rebuild at the same site; staff said some affected companies declined to publicly disclose damage for fear of regulatory consequences tied to location. The board discussed the need for a multi‑agency referral network because not all affected businesses will qualify for CoCDC assistance but may be eligible for other federal, state or private resources.
No final eligibility rules were adopted at the meeting. Staff and partners said they will continue outreach and reporting to the board and to the Concho Valley recovery group, and that the board will receive further updates on how the $1 million for business assistance will be administered and prioritized.
