On Tuesday, the Kyle City Council joined a county-wide collaboration by partnering with Hays County in establishing the Emergency Cash Assistance Program. For Kyle’s portion, $100,000 has been earmarked to prop up struggling businesses within the city limits.
The ECAP fund will disperse a total of $600,000 to county businesses, with a special emphasis on smaller companies that were unable to secure assistance via the Payroll Protection Program.
“COVID-19 is first and foremost a health crisis, but it is also a severe economic crisis that has left many local businesses struggling to keep their doors open,” Director of Kyle Economic Development Diana Blank-Torres said. “The City of Kyle’s Economic Development Team, along with the County and Greater San Marcos Partnership, wants to help fill that gap that so many businesses have fallen through by extending grant funding to the businesses that were unable to secure help through the Payroll Protection Program or the Economic Injury Disaster Loan program.”
The fund will provide a grant of up to $10,000 to qualifying businesses on a first-come, first-serve basis.