Here’s How Local Small Businesses Can Apply For The CARES Act Fund
El Paso small businesses and non-profits are encouraged to apply for the CARES Act Fund – Here’s how.
Small businesses and non-profits will soon get some financial relief thanks to the City of El Paso Economic and International Department along with its three non-profit organizations that will distribute funds received from the Coronavirus Aid, Relief, and Economic Security Act – otherwise known as the CARES Act Fund.
The CARES Act funding will issue grants to qualifying small businesses and nonprofit organizations that have been financially impacted by the COVID-19 pandemic.
The City has partnered with three non-profits, LiftFund, Inc., Project Vida, and PeopleFund for the distribution of the CARES Act funding.
According to the City of El Paso:
- LiftFund Inc. will be provided up to $8.5 million to distribute grants of up to $25,000 to small businesses with 5 to 20 employees and gross annual revenues of up to $2 million.
- Project Vida will be provided up to $2.5 million to distribute grants of up to $5,000 to microenterprise businesses with 1 to 4 employees and gross annual revenues of up $2 million.
- PeopleFund will be provided up to $2.5 million to distribute grants of up $5,000 to independent contractors and sole proprietors without employees and gross annual revenues of up to $2 million
Local small businesses are encouraged to apply - For more information and details on the CARES Act fund program, how to apply, eligibility requirements, and application instructions, visit:
READ MORE: See how some companies are changing their businesses to combat COVID-19