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Emergency Cash Assistance Program to Provide $600K for Small Businesses
08/03/2020

EMERGENCY CASH ASSISTANCE PROGRAM (ECAP) TO PROVIDE $600K FOR SMALL BUSINESSES

HAYS COUNTY, Texas -- As part of a county-wide collaboration, Hays County established the
Emergency Cash Assistance Program (ECAP) grant fund, which will deploy $600,000 in grants to
local businesses. This free financial resource is designed to aid small businesses in Hays County
that are struggling to sustain operations due to the COVID-19 health crisis.

 

The ECAP fund, which was initiated by the Hays County Commissioners Court, is a collaboration
between the County, the City of Kyle, 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 served basis. The loan agency PeopleFund, a non-profit community lender, will manage the
application process.

 

“Hays County led this effort, recognizing that some small businesses were not able to access
any of the federal assistance programs,” said Jason Giulietti, president of GSMP. “The ECAP
fund will provide much-needed relief to members of our business community that are essential
to our region’s economy and recovery.”

 

At this time, there is $600,000 available for disbursement - $500,000 provided by Hays County
and $100,000 provided by the City of Kyle. However, this figure may grow if additional funds
are contributed.

 

The grants will be awarded to small businesses located within Hays County that were unable to
secure assistance via the Payroll Protection Program (PPP) loan through the CARES Act or the
Economic Injury Disaster Loan program through the US Small Business Administration.

 

Grants shall be awarded on the basis of $1,000 per qualifying employee up to a maximum of
total grant per business of $10,000. Grant funds may be used for:

• 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

 

“We at PeopleFund are honored to join this collaborative and put our experience and
infrastructure at the service of small businesses in Hays County,” said Gustavo Lasala, President
and CEO of PeopleFund. “Anyone requiring help with navigating the application process or in
need technical assistance for their business can contact our team at 512-222-1016.”

 

A PDF version of the application is available for review now at www.HaysCountyECAP.com to
help prepare applicants for the information that will be requested. On Monday, August 10,
applicants may begin submitting their application and required documents online at
www.peoplefund.org/hays/. Hard-copy applications will be made available at various locations
around Hays County.

 

Applications will close once all funds have been awarded or until December 31, 2020,
whichever comes first. Complete details are available at www.HaysCountyECAP.com.

 

About the Greater San Marcos Partnership
The Greater San Marcos Partnership (GSMP) is the 501c6 regional economic development organization serving the city of San Marcos, and Hays and Caldwell Counties focused onpositioning the region for a wider diversity of quality jobs with higher wages. The GSMP missionis to increase economic opportunities for all in the heart of the Texas Innovation Corridor.

 

About PeopleFund
PeopleFund is a Community Development Financial Institution, certified by the US Treasury and
an SBA Lender certified by the US Small Business Administration. PeopleFund creates economic
opportunity and financial stability by providing small business owners in Texas access to capital,
education and other resources. Since 1995, PeopleFund has disbursed more than $100 million
in loans throughout the state, delivered 85,000 hours of technical assistance and allocated $100
million of tax credits supporting projects in neighborhoods in need of jobs and revitalization.
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Media may direct additional questions to:
John Ellis
Vice President of Marketing & Communications
Greater San Marcos Partnership
O: (512) 393-3406 | C: (512) 781-3065 | E: johne@greatersanmarcostx.com


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