El Paso small business relief fund to accept grant applications again on Monday
EL PASO, Texas -- An El Paso small business relief fund that was quickly overwhelmed with grant requests and shut down announced Friday night that it will reopen the application process next week.
"We have listened to our community’s concerns regarding the application process for our grant program administered by LiftFund, and we are taking action. We have worked with LiftFund to reopen the small business grant application on Monday morning, April 6 at 7:30 a.m. to allow more small business owners the opportunity to apply for funds," said a statement issued by the El Paso County Economic Development Department.
LiftFund will once again take the applications on its website at LiftFund.com.
Much like the first time applications were accepted, officials said that the application process will be closed as soon as capacity is reached. However, they did not specifically indicate what constituted "capacity." This past week, LiftFund stopped taking grant applications within hours of opening up the process.
El Paso's city and county governments pitched in $2 million to Liftfund, a non-profit group aimed at helping small businesses. The program aims to assist small business owners with loans and grants as they struggle to keep afloat because of the coronavirus pandemic.
While the group was overloaded with grant applications on the first go-round, LiftFund is also offering small business loans up to $25,000 at 0% interest with a four month deferment. Loan applications have continued to be accepted without interruption and officials encouraged business owners to consider a loan if they are unable to secure a grant.
