Financial & Technical Assistance

Local, state, and federal opportunities for financial assistance including grants, loans, and technical assistance.

Local Assistance

El Paso County Faster Program

Beginning on January 5, 2021, the County of El Paso has made $10 million available to aid small businesses located in El Paso County which have been negatively impacted by COVID-19 through its Financial Assistance for Safety, Technology and Economic Resilience (FASTER) program. This assistance is available in several forms, including grants, loans, and technical assistance.

Funding Tier Prioritization:  

January 5, 2021:

Tier I: $6 million will be available to businesses located outside of the City of El Paso and within El Paso County.

Tier II: $4 million will be available to businesses located within El Paso city limits.

March 5, 2021:

Any remaining Tier I funds will be made available to any business located within El Paso County, including businesses located within El Paso city limits.

Qualifications: Non-Profit organizations and businesses located in El Paso County that can demonstrate a negative impact due to COVID-19 and who have implemented a health and safety policy pursuant to County Judge’s Orders.  We strongly encourage your business to take the Pledge to Safety.

For all FASTER program guidelines and qualifications click HERE 

Click here for a list of answers to frequently asked questions.

For available program applications and information, please continue scrolling down and see below.

Note: The financial assistance provided by these programs comes in several forms. Many programs, such as grants, do not need to be repaid; however, they may be considered taxable income.  Others, such as loans, have loan forgiveness opportunities. Please read the terms of the programs carefully. Businesses may apply to combine both grant and loan opportunities but the total awards shall not exceed the maximum loan allowed. However, businesses are encouraged to limit their application(s) to one loan provider (Community Foundation, LiftFund, PeopleFund) and one grant provider (EP Chamber, El Paso Hispanic Chamber) to streamline processing of applications. Technical assistance grants offered by Workforce Borderplex Solutions may be combined with other grant and loan programs as well.

Disclaimer: FASTER Program information presented here is subject to change upon final approval by the El Paso County Commissioners Court in January 2021. The program information is intended to provide awareness of the program guidelines and proposed FASTER Program Administrators. Any updates to the program will be shared via this website.

For any questions on the programs please contact the El Paso County Economic Development Department at [email protected]

Large Loan Program

Administered By:
Borderplex Community Capital (EP Community Foundation)

Loan Amounts:
$35k to 125K

Program Type:
Zero Interest & Forgivable Loan Program

 

 

Small Loan Programs

Administered By:
LiftFund & PeopleFund

Loan Amounts:
Up to $50K

Program Type:
Zero Interest & Forgivable Loan Program

Technology Solutions Grant Program

Administered By:
Workforce Solutions Borderplex

Assistance Amount:
Based on Needs

Program Type:
Technical & Equipment Acquisition Assistance for Local Businesses

Commercial Assistance Grant Programs

Administered By:
El Paso Chamber & El Paso Hispanic Chamber


Assistance Amounts:
Up to $10,000

Program Type:
Microgrants for Commercial Mortgage/Rental & Utility Assistance

Build Safe Grant
Programs

Administered By:
El Paso Chamber & El Paso Hispanic Chamber

Assistance Amounts:
Up to $10,000

Program Type:
Microgrants Supporting Operational Safety Improvements (PPE/Guards/Signage)

Don't miss out on local financial assistance opportunities for small bussinesses.

Sign up to receive information regarding grants, loans, and services as they become available.

NOTE: This is NOT an application for grants, loans, or services. It is your responsibility to reach out directly to program administrators of the various grant, loan, and assistance programs if they have not contacted you directly. For assistance please contact the El Paso County Economic Development Department at [email protected] or call (915) 546-2177

State & Federal Assistance

SBA COVID-19 Private Funding Options

A resource of private funding options to help small businesses. Browse options available nationally, or input a zip code to explore location-specific funding.

SBA Restaurant Revitalization Fund

The American Rescue Plan Act established the Restaurant Revitalization Fund (RRF) to provide funding to help restaurants and other eligible businesses keep their doors open. This program will provide restaurants with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023.

SBA Venue Operators Grant

The Shuttered Venue Operators Grant (SVOG) program was established by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, and amended by the American Rescue Plan Act. The program includes over $16 billion in grants to shuttered venues, to be administered by SBA’s Office of Disaster Assistance.

Eligible applicants may qualify for grants equal to 45% of their gross earned revenue, with the maximum amount available for a single grant award of $10 million. $2 billion is reserved for eligible applications with up to 50 full-time employees.