The Emergency Cash Assistance Program grant fund, or ECAP, is meant to aid businesses challenged by the coronavirus pandemic, and grants will be awarded on the basis of $1,000 per qualifying employee.
Grants are available on a first-come, first-served basis, and nonprofit loan agency PeopleFund will manage the application process.
“Anyone requiring help with navigating the application process or in need technical assistance for their business can contact our team at 512-222-1016," said Gustavo Lasala, president and CEO of PeopleFund.
A press release issued by GSMP states that $600,000 is currently available for disbursement, with $500,000 provided by Hays County and $100,000 contributed by the city of Kyle. The release notes that the amount of available funds has the potential to increase.
“Hays County led this effort, recognizing that some small businesses were not able to access any of the federal assistance programs,” said Jason Giulietti, president of GSMP. “The ECAP fund will provide much-needed relief to members of our business community that are essential to our region’s economy and recovery.”
Grants may be used for the following expenses:
- working capital (including rent, pre-existing mortgage and utilities)
- inventory or supplies
- furniture or fixtures
- machinery or equipment
- maintenance or repairs
- payroll or employment benefits
Applications will be accepted through the end of 2020 or until all funds are awarded.