EDC approves emergency funding to help endangered local businesses

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EDC approves emergency funding to help endangered local businesses

Thu, 04/02/2020 - 11:08
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The Canadian/Hemphill County Economic Development Council has approved funding to assist local businesses struggling to survive the double whammy of the COVID-19 pandemic and the freefall of oil prices. Qualifying businesses may apply for assistance through either or both of two funds: the

Qualifying businesses may apply for assistance through either or both of two funds: the Emergency Support for Business Operations Fund, and the Marketing and Advertising Emergency Project. Funding is available now through a simplified application process.

The Emergency Support for Business Operations Fund offers grants up to $6,000 to primary businesses which provide essential services or products.

The grants may be used to cover expenses critical to continuing operation of the business and the retention of their employees. Those expenses may include payroll; mortgage or note payments; supplies, utilities, or other immediate needs. Recipient businesses are required to maintain their current employees.

Remelle Farrar and Wendie Cook were appointed to the EDC committee which will facilitate the EDC’s objective of getting these funds to local businesses promptly, in order to provide support during the gap time before the federal stimulus funds and SBA program loans are available.

These grants will be approved and issued beginning April 3.

The Marketing and Advertising Emergency Project was funded for primary businesses, including both retail and food establishments.

Believing it is essential for businesses to keep their services and products in front of consumers, and to develop new methods of marketing, service delivery, and sales during this critical period, the EDC committed up to $13,000 for advertising and marketing Canadian and Hemphill County businesses. This initiative includes advertising of all Canadian businesses, as well as grant funds for individual businesses’ marketing and advertising.

The EDC committee, partnering with the Chamber of Commerce, was appointed to provide information, develop general advertising, take and review applications for funding of individual business marketing plans, and dispense grant funds. Information and the one-page application is available now by emailing canadianedcemer

Information and the one-page application is available now by emailing canadianedcemergencyhelp@gmail.com.