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Applications now being accepted for 2024 Ruby Red Ventures Build Mission Fund
Rio Grande Guardian | Steve Taylor
MISSION, TX - Mission Economic Development Corporation believes its Ruby Red Ventures Build Mission Fund helps attract small businesses to the city.
Under the program, small businesses that have been going for two years, are in good standing, and based in Mission, can apply for up to $15,000 in grants. The grants can be used to help with operation sustainability, facility improvements, expansion, working capital, and job retainment and creation.
Brianna Casares, manager of marketing and programs at Mission EDC, granted an interview to the Rio Grande Guardian. She said of Ruby Red Ventures: “It’s something that the entrepreneurs and business owners kind of wait for and are constantly asking, when is it coming back? How can I apply? How can I get ready for this? So, it’s definitely popular and it kind of entices people to move here so that they can apply for it or move their business to Mission for the chance that funding.”
Asked what the program is all about, Casares said:
“Ruby Red Ventures is a grant program that we have here at Mission EDC. Previously, it was a competition, a pitch style Shark Tank type competition. But we really wanted to go back and honor our existing businesses. So prior, it was just for startups, but now, any businesses that have been in operation for the last two years are eligible to apply.
“And they can apply for whatever it is that they may need, whether it’s equipment, operations, sustainability, if they need to hire anybody, if they have any marketing initiatives, anything that’s unique to their business, they can apply for that. So, there’s not really any strict parameters as to what you are ineligible for, and you also don’t have to compete. So it’s just a simple application. You apply online, and kind of just tell us about your business. You give us a detailed project plan, and then we go from there.”
Casares continued: “This grant provides financial support to businesses that might otherwise face barriers to growth. It’s just one more way Mission EDC is creating more jobs and opportunities for investment in our community.”
Teclo J. Garcia, CEO of Mission EDC, pointed out that Ruby Red Ventures Build Mission Fund was initially launched in 2023. He said the program is designed to help small business owners identify and carry out personalized projects to scale operations, improve facilities and provide capital for other short- term needs.
“Our goal is to create opportunities for growth,” Garcia said. “By empowering business owners to tell us their specific needs, we’re ensuring that businesses not only grow but also stay in Mission.”
Casares said that last year the program helped 15 entrepreneurs carry out projects that led to higher revenue, expansions and the creation of 18 new jobs. And she gave an example. She said Taqueria Oviedo, a 20-year-old Mission restaurant and a 2023 grant recipient, attracted a wave of new clientele after using their grant to install new indoor and outdoor signage.
Casares said the renewed visibility helped Taqueria Oviedo achieve a 20 percent increase in sales, the creation of three jobs and the establishment of a second location.
“Taqueria Oviedo is a family-owned business, a Mexican restaurant. It’s two sisters, and they applied for the grant last year. They put together a really good application, and they were needing signage and new equipment. So, we helped them with that, and their business really took off. They are here one 495 but they just opened up another location on Inspiration.”
Casares said Mission EDC still runs the Shark Tank-link pitch competition. She said that runs in the Spring. But the Build Mission Fund component of Ruby Red Ventures, where small businesses can simply apply for funds, is now underway.
“This program assists small businesses with any type of project that they may need. If they need to change their facade, if they need a change their flooring, if they’re interested in buying a cash register, whatever it is, equipment-wise that they need, they can apply,” Casares said.
“For example, Marco’s Burgers & More needed a new refrigerator to help their operations. So that’s what they purchased (with a Ruby Red grant).”
Asked to define a small business, Casares said: “To be eligible they have to be making less than a million dollars in annual revenue, and they have to have less than 30 employees. So that still encompasses quite a few businesses here.”
Casares said a committee of around ten judges will choose the 15 lucky applicants. She said they will be able to apply for up to $15,000.
“We have put together a committee of different business owners, our own staff, our own board members, people that are in the business landscape. We sit and go through every single application to see if they meet the goals and the needs that we’re looking for with this program. We will make the decision in December.”
Casares said applications must be submitted via an online portal on Mission EDC’s website or in person at Mission EDC’s offices located inside the CEED, 801 N. Bryan Road, Mission, TX. She said the application portal opened Tuesday, Oct. 1, and closes on Friday, Nov. 1. She said applicants must provide Mission EDC with a detailed project plan with verified cost estimates and a timeline of proposed improvements.
Casares said more information can be found at www.missionedc.com/rubyredgrant. Interested parties can also call 956-585-0040 or attend one of four informational sessions throughout the month of October. She said in-person sessions will be held at the CEED on Oct. 8 and Oct. 15 at 6 p.m. Virtual sessions will be held via the following Zoom links: Oct. 9 at 6 p.m. https://tinyurl.com/34xvpfh7 and Oct. 16 at 6 p.m. https://tinyurl.com/4bv6zmr5.
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