CANYON, TEXAS -- Canyon City Commissioners will be hearing a resolution Monday evening to create a small business assistance fund. The money for that account is actually part of a larger fund that tax dollars are already earmarked for, to help local businesses.
"This is a line item in the budget and so, the 50-K is there for the budget year, starting October 1st and going through September 30th..and so once the money is gone...it's gone," said Evelyn Ecker,CEDC Executive Director.
Basically it's a little brother to the big fund, set up to help smaller businesses. It will make things move a little faster by streamlining the process and making everything work a little faster.
Over the past few years, more than $456,000 has been used to help businesses in Canyon if they meet certain criteria. This new $50,000 fund, which is capped at $10,000 for businesses with fewer than 20 employees. By doing this the process will move along a little faster with less red tape.
"Because we have people who don't have a large project, a 100,000 dollar project, then this would be an avenue that they could use, under the same criteria but it would be a little bit speedier process," said Ecker.
Commissioners are expected to approve the creation of this fund during their Monday evening meeting.
