Wednesday afternoon, officials with the El Paso Hispanic Chamber of Commerce (EPHCC) announced that they had successfully distributed all monies from the “Small Street. Main Street. Small Business Grant Program.”
This is a profoundly notable accomplishment… the small, minority-owned businesses in our city were in extreme distress because of the pandemic… this financial relief has assisted tremendously in their recovery,” El Paso Hispanic Chamber of Commerce CEO Cindy Ramos-Davidson shared.
The program was created by collaborating with the City of El Paso, which allotted the necessary funds for the chamber to disperse. The ultimate goal of this initiative was to aid small businesses afflicted by the pandemic, specifically those located in the peripheral and rural areas of the county.
“We began the first phase of grant allocation on November 30, distributing two hundred three grants—comprising $423,971.84—to small businesses in our city. Our analysis of grant applications reveal that the funds allocated saved seven hundred thirty-five jobs in the city,” EPHCC officials share.
“Our final phase of grant distribution occurred on December 15; we awarded seventy-five grants worth $93,309. Our data shows that these seventy-five grants retained three hundred forty jobs in our small business community,” officials added.
In total, the “Small Street. Main Street. Small Business Grant Program” issued two hundred seventy-eight grants comprising $517,280.84, saving 1,075 jobs in the city.
With the county funds, EPHCC began the first phase of grant allocation on November 11, distributing twenty grants—comprising $38,676.04—to rural businesses in the county. Analysis of grant applications reveal that the funds allocated saved fifty jobs in the county.
The second phase of grant distribution occurred on November 17; where eight grants worth $11,323.96 were awarded. Our data shows that these eight grants retained twenty-five jobs.
The final phase of distribution was on December 15, issuing sixty-nine grants totaling $240,000. This phase saved two hundred twenty-two invaluable jobs in the rural areas of the county.
When combined with our county grant program, EPHCC allocated three hundred seventy-five grants totaling $807,280.84 and saved 1,372 jobs.
“These numbers highlight the vital role the El Paso Hispanic Chamber of Commerce maintains in the small business community. Moreover, they underscore and reaffirm our commitment to all small, minority, woman, and veteran-owned businesses in our city,” EPHCC officials added.