• November 29, 2021
 Project Vita’s public-private partnership funds local economic development

Project Vita’s public-private partnership funds local economic development

Officials with Project Vida say their public-private partnership supporting economic development for low- and moderate-income microenterprise owners recently raised over $175,000.

Through Project Vida’s Microenterprise Technical Assistance Program (MTAP), the funds provide business and financial literacy, management and operational skill-building, and individualized technical support to stabilize, strengthen, increase profitability, and grow micro-businesses toward small business status.

The partnership includes the City of El Paso, $90,000 through a Community Development Block Grant; United Way of El Paso County, $15,560; Wells Fargo Foundation, $15,000; GECU Foundation, $10,000, Cardwell Foundation, $10,000; El Paso Electric, $10,000; LiftFund, $8,600; WestStar Bank, $6,000; Hunt Companies, $5,000; and Tropicana Homes, $5,000.
Project Vida officials explain that MTAP focuses on microenterprises, basically a business with five (5) or fewer employees.  Owners must work full-time in the business and qualify based on HUD income guidelines.
MTAP provides microenterprises the direct assistance they need to grow and be profitable.

Staff Report

Staff Reports are just that, Staff Reporting the news. No skew, no opinion just the news. We pride ourselves on making sure that we bring you the news as soon as it is published, submitted or sent to us. No need to have a reporter rewrite or give their opinion. The facts or information, nothing more.

Related post

El Paso Herald Post Download the new ElPasoHeraldPost.com app and get notifications for community news, deals and community calendar info. Your info is never shared and we would love for you to share our app with your friends!
Allow Notifications