HAYS COUNTY, Texas – The second phase of the Hays County Emergency Cash Assistance Program (ECAP) goes into effect today, Monday, November 9, with lighter requirements and a more streamlined process to access the free financial resource.
The ECAP fund, which was launched by the Hays County Commissioners’ Court in July, is a collaboration between the County, the Town of Kyle, PeopleFund and the Greater San Marcos Partnership (GSMP).
The first phase of ECAP funding helped 38 local businesses in Hays County during the early stages of the COVID-19 crisis, which previously were unable to secure traditional relief funding such as the Child Protection Program. payroll (PPP) or an economic disaster loan. (EIDL).
During phase 2 of ECAP, companies that have received PPP or EIDL funding will now be eligible for a grant, a separate expansion of the program.
Other adjusted requirements include a shorter operating life of a business and an updated rubric now based on lost revenue during the pandemic.
Companies that have already received ECAP funds can still benefit from additional support if they have not reached the maximum award threshold.
Non-profit organizations are also encouraged to apply. The rewards will be based on a formula calculating lost income over a period of time.
âWe recognize that funds previously provided by PPP, EIDL and ECAP Phase 1 have already been liquidated by participating companies,â said Jason Giulietti, President of GSMP. âPhase 2 is another step our county has taken to provide additional assistance and support to struggling businesses during this difficult and continuing time.â
The fund will provide a grant of up to $ 10,000 to eligible businesses on a first come, first served basis. Grant funds can be used for:
- Working capital (including rent, pre-existing mortgage and utilities)
- Inventory or supplies
- Furniture or accessories
- Machinery or equipment
- Maintenance or repairs
- Payroll or benefits for eligible employees
Application details are available at www.HaysCountyECAP.com. Applicants are encouraged to review the list of qualifications before starting an application.
Starting today, Monday, November 9, applicants can start submitting their application and required documents. Paper applications will be available by mid-November at the locations indicated on the website.
Applications will close once all funds have been allocated or until December 31, 2020, whichever comes first. For help navigating the application process, contact PeopleFund at 512-222-1016.