$2.5 million in CARES Act funding available for El Paso small businesses

Business

EL PASO, Texas (KTSM) — Independent contractors and sole proprietors without employees in El Paso could be eligible for grants up to $5,000 from funding provided to the City of El Paso through CARES Act funding.

PeopleFund was chosen by the City of El Paso’s Economic and International Development Department to distribute $2,5 million in funding to businesses acting as independent contractors or sole proprietors in the City of El Paso.

Eligible businesses must have experienced a loss of 15% or more in revenue due to the pandemic and must have been in operations since October 1, 2019. Lastly, businesses must have a total gross annual revenue of up to $2,000,000 but no less than $10,000 in net revenue for 2019.

Eligible businesses can apply and submit requested documentation on PeopleFund’s website. Applicants will be contacted for further documentation or verification if needed.

The application for the program close on September 15, 2020 at 5:00 PM MDT.

Applicants will enter a lottery system, and a random selection will occur in late September. Grantees will then be notified, will execute a grant agreement, and will be awarded through an account of their choosing.

To apply and for more information about the program, please visit: https://peoplefund.org/elpaso/

For all small business grants in the City of El Paso, please visit: https://elpasobusinessstrong.org/
For more information about PeopleFund’s COVID-19 relief programs and resources, please visit:
https://peoplefund.org/covid-19/

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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