KYLE, Texas - The Emergency Cash Assistance Program (ECAP) has been established to help businesses in Hays County that are struggling to sustain operations due to the ongoing COVID-19 pandemic.
The ECAP grant fund will disperse a total of $600,000 to businesses that were unable to secure assistance via the Payroll Protection Program (PPP) loan through the CARES Act or the Economic Injury Disaster program through the US Small Business Administration.
Kyle City Council joined a county-wide collaboration during an August 4 meeting by partnering with Hays County in establishing the fund and earmarking $100,000 to go toward supporting Kyle businesses with the fund.
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The fund, which was initiated by the Hays County Commissioners Court, is a collaboration between the City of Kyle, Hays County, PeopleFund, and the Greater San Marcos Partnership (GSMP). The fund will provide a grant of up to $10,000 to qualifying businesses on a first-come, first-serve basis. The loan agency PeopleFund, a nonprofit community lender, will manage the application process.
Applications can begin to be submitted on Monday, August 10. If interested in applying, there is a PDF version of the application that can be reviewed here and below to help prepare applicants for the information that will be requested.
Applications will close once all funds have been awarded or upon Dec. 31, 2020 — whichever comes first.
Grants will be awarded on a basis of $1,000 per qualifying employee, up to a maximum of $10,000, and the funds can be used for the following:
- 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 for qualifying employees.
Additionally, all the following criteria must be met:
- Must be a private sector business or nonprofit organization.
- Must have been in operation since at least Jan. 1, 2019 with a location within Hays County. A residence-based location may be acceptable provided applicant certifies that it offers services primarily within Hays County.
- Limited to those with less than 10 full-time equivalent qualifying employees.
- Must have been in good standing with the State of Texas, and have no outstanding tax liens, as of Jan. 1, 2020.
- Must be in good standing with City and County taxes, as well as all permits, and licenses as of Jan. 1, 2020.
- Businesses that have been the recipient of any federal or state assistance program such as the Payroll Protection Plan (PPP) or the SBA Economic Injury Disaster Loan Assistance program (EIDL) do not qualify for ECAP funding.
- Any natural persons holding more than 10% beneficial ownership of the business must certify via an affidavit prior to grant closing they do not have access to unencumbered liquid assets in excess of $100,000.
- Eligible applicants will be asked to sign up for a one-hour virtual technical assistance meeting or workshop with PeopleFund, covering disaster response planning, financial assistance sources or other relevant topics.
To apply, go to hayscountyecap.com. For assistance navigating the application process, call 512-222-1016.
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