EL PASO, Texas (KTSM) — The El Paso County Commissioner’s Court approved $50,000 in CARES Act funding on Monday.
Those funds will be used to offer training and assistance to financially distressed small businesses through the El Paso Chamber of Commerce. The program will help 3,040 businesses with a variety of services aimed at improving business efficacy.
Selected businesses will be processed through the El Paso Chamber’s Business Solutions Center (BSC). This new program offers help with advocacy, loan assistance and business coaching. In addition, a small business board composed of financial and legal experts will offer consulting services to the selected businesses, and partnerships with Quality Texas and Coursera will allow the businesses to benefit from a host of training tailored specifically to their needs at no cost.
“We know that the COVID-19 pandemic has impacted many businesses, but each business is unique and has different needs,” said County Judge Ricardo Samaniego. “This program is designed to help a struggling business identify its needs and connect to those services that will help it weather the storm.”
Eligible businesses must earn no more than $3 million in annual revenue and must be experiencing a 25-percent or greater loss in revenue or have been forced to shut down due to the crisis.
Businesses will be selected in cohorts over the next several months, with all services to be rendered by Dec. 1.