The City of El Paso Economic and International Department announced Monday new partnerships with three non-profit organizations to distribute funds received from the Coronavirus Aid, Relief and Economic Security Act (The ”CARES Act”).
The funds are available to assist eligible small businesses and independent contractors, hit by the Coronavirus Pandemic.
The CARES Act funding will be provided in the form of grants to eligible small businesses and nonprofit organizations that have been financially impacted by business interruptions caused by the COVID-19 pandemic.
City officials share that they have partnered with LiftFund, Inc., Project Vida, and PeopleFund for the distribution of the CARES Act funding as follows:
- 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
For more information on program details, eligibility requirements, and application instructions, please visit each programs’ individual website:
Information on these programs and other resources can be found at epbusinessstrong.org