El Paso Small Business Grants – Officials from across El Paso County gathered Monday, Sept. 26, 2022, at Centennial Hall in Colorado Springs to celebrate nearly $21 million in USA Rescue Act grants from El Paso County to fund emergency water and wastewater projects . (Breeanna Jent/The)
Water treatment operator Preston Kidwell tests water in April 2022 at a recently opened mitigation facility for the Water and Sewer Safety District.
El Paso Small Business Grants
Sixteen Pikes Peak regional water projects that improve drinking water infrastructure, provide sustainable water sources, improve utilities and manage sewers are receiving millions of dollars in grants to help them cross the finish line.
Texas Small Business Grants
El Paso County officials announced Monday that they have set aside just under $21 million from the USA Rescue Act to fund “critical” water and wastewater projects that will serve nearly 54,000 current homes and which could serve up to 95,000 more. to 2050. as part of nearly $140 million in federal coronavirus aid provided to El Paso County through the 2021 stimulus bill.
“This is a once-in-a-lifetime funding opportunity for many of these water projects and related infrastructure,” said El Paso County Commissioner Longinos Gonzalez, who represents the fourth district in the a county that is home to many of the water projects that have been awarded.the grants on Monday.
The county opened the grant application process in March and asked independent water experts to thoroughly review and score each project, El Paso County Administrator Brett Waters said. County officials prioritized projects related to water recycling, pollution removal, rural projects and those with “little chance of sustainability” without funding, he said.
Rama Township Trustee Joe Allen said a $2 million grant to his hometown of just 125 residents to help build a new sewer project saved officials from taking out large loans and providing increased costs for residents.
Small Business Development
“Receiving this grant is a big step in ensuring that the rates for our residents do not have to increase significantly,” he said.
The project will include a new wastewater treatment pond system, Allen said. The city’s sewer system is disconnected and too small to serve his needs, he said. In 2020, city officials expected to pay $2.5 million to build the new system, the most expensive step, but the final price is now unknown due to inflation . Construction should begin this spring, he said.
The city of Fountain received $2.147 million to help build a reservoir and water treatment plant that will draw water from Fountain Creek, treat it on-site, and then reintegrate it into the city’s water system from where it flows to residents.
The project is still in the early stages of development and the final cost is unknown, said Taylor Murphy, Fountain Water Resources and Engineering Manager.
Economic Development Support
The project, said Mayor Sharon Thompson, “will greatly enhance our ability to provide the treated water we need to serve our expanding community.” The 2021 master plan a ‘ city says Fontana is approaching the limits of its water system to provide adequate treated water to meet peak daily needs; this project is one of five options considered by the City Council as solutions.
The Safety Water District, Widefield Water and Sewer District and Venetucci Farm were also among those receiving grants. Those agencies and the city of Fountain, Gonzalez said, have invested grant funds to immediately address the reduction of high levels of “forever chemicals,” or per- and polyfluoroalkyl substances, found in their wells in 2016 due to fire pollution. foam.
“Most importantly, our water districts are absolutely providing safe, clean water,” Gonzalez said, due to rapid efforts to reduce pollution by county, state and federal governments. “But this was a great opportunity to help those counties and the city of Fountain get more dollars for projects that may not have been funded because they put some funding up front” to keep chemicals in their water permanently mitigated, he said.
The largest grant – $ 4 million – was given to a regional water project called the Loop, which can be used to pay for the engineering design of the project of about $ 160 million to $ 200 million, Cherokee Metropolitan County Executive Amy Latten said Monday.
Downtown Grant Programs
The project aims to ensure a stable water supply and relieve pressure on the Denver Basin, a limited resource that provides water to thousands of El Paso County residents. The loop would use its members’ water rights to divert water from Fountain Creek to Chilcott Ditch in southern El Paso County and deliver it to a nearby reservoir. There, suppliers treated it to near-potable levels at an on-site treatment plant before it was pumped north and delivered to consumers down the road. Water suppliers would treat the water again to make sure it was clean and then deliver it to their customers.
“When we connect it all, the water suppliers on the loop will be able to provide renewable water, which we can never do right now,” Latten said.
Breeanna Jent covers El Paso County government. She previously worked as an editorial assistant for Pikes Peak Newspapers and joined their sister paper, The 2020.
Business Solution Center
El Paso, Texas is considered a disaster area due to COVID, allowing small business owners in El Paso and those Texas residents who are eligible to apply.
El Paso, Texas and all other major cities have several SBA loan programs, including the Economic Injury Loan (EIDL) and the Payment Protection Program (PPP).
In news from El Paso, Texas, the U.S. Small Business Administration (SBA) announced that the application deadline for the Texas Economic Injury Loan (EIDL) program for the declaration of a severe COVID-19 Pandemic TX disaster has been extended until December 31, 2021.
SBA loans are a type of loan made by the US government that must be paid back within a certain period of time. This is a low interest loan guaranteed by the Small Business Administration. This means that if the borrower defaults, the federal government will cover it to protect against losses.
Ephcc Covid Relief
These loans are widely used for business expansion and provide an easy way for a company to get a loan when they have trouble getting a loan from banks or traditional lenders.
El Paso, Texas SBA grants, unlike loans, do not have to be paid back with interest. These grants come from a variety of sources, including the US Department of Education and state governments/agencies that run special grant programs designed to provide funds to employers to help with training and education programs.
SBA loans are also used to recover from financial losses due to COVID and other natural disasters, such as floods, hurricanes, tornadoes, storms, fires, earthquakes and other forms of natural disasters in El Paso, Texas .
Grants are often given to help El Paso, Texas small businesses offset the cost of employee training or can be used for start-up costs, such as new technology and equipment.
Stream Sharing Sweat Equity: A Business Podcast
El Paso, Texas banks and private lenders provide SBA loans to small businesses that may not qualify for traditional loans. The Small Business Administration guarantees these loans against default, helping the business get financing from places they couldn’t get it before.
Since the loan is guaranteed, the interest rates are usually lower as are the monthly payments. This makes SBA loans very popular with those who need quick funding but don’t want an expensive payment plan.
In El Paso, Texas, many businesses have received this SBA loan assistance and have been able to grow their companies thanks to this Texas SBA assistance.
El Paso, Texas and federal law limit the number of SBA loans that can be made. This should help improve competition in the small business lending market and prevent large companies from acquiring smaller ones.
Covid 19 Grants
With some exceptions, the limit on how many SBA 7(a) loans a company can have depends on how much money it has already borrowed.
The El Paso Texas SBA loan process from application to final approval can take anywhere from three weeks to several months. This is because the city of El Paso lenders need to make sure everything is in order before they give a guarantee of this size.
Although each El Paso, Texas company’s situation is different, it usually takes 7 to 10 days for a company to qualify and be approved for an SBA loan. It has been reported that, on average, it takes about 9 more days for the funds to go through after they are approved for you.
In the past, a business owner had to go through a lengthy application process and meet certain requirements before being approved for an SBA loan. Now companies can apply online, in some cases in less than 10 minutes.
Southwest University At El Paso
Once you’re approved, it takes about 2 weeks for lenders to fund your account because this is the time it takes for the company’s insurance department to review everything once they get everything