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Kilgore Cares: COVID-19 Crisis Fund

Kilgore Economic Development Corporation has established Kilgore Cares, an umbrella COVID-19 Crisis Program that consists of two funds providing support and relief to local industrial employers and to local small businesses harmed by COVID-19.
 
The COVID-19 Crisis Economic Development Performance Agreements for industrial employers will provide Type A financial relief to approved applicants. The program will be structured as a forgivable loan for a term of one year. If the company remains in business in Kilgore at the end of the term, the loan will be forgiven. KEDC will manage the fund according to typical KEDC retention practices. 
 
“Existing industrial employers are our customers, and many of these businesses have been harmed from COVID-19 by additional costs and decreased revenues.  Our board wants to take steps during this crisis to support these businesses,” explains Bob Davis, president of the KEDC Board of Directors.
 
The COVID-19 Crisis Fund for Business Enterprises is a partnership with the City of Kilgore and the Kilgore Chamber of Commerce and Visitors Bureau and will provide eligible small businesses with the opportunity to apply for grants of $2,000.  The Chamber will manage the administration of this fund, and the City has accepted fiscal responsibility. 
 
“We are honored to be working alongside KEDC and The City of Kilgore to assist the businesses who make Kilgore, Texas, the best place to Live, Learn, Work and Play, said Chamber President/CEO Jill McCartney.  “We understand that many of the small businesses are feeling a very serious strain on their finances and could use some additional assistance outside of what the government is offering, Kilgore Cares is just another reason why we are "The City of Stars."
 
The grants will be paid in installments, half paid at initial approval and half after 30 days if the business uses it best efforts to continue or resume operations in Kilgore. To be eligible, businesses must employ fewer than 20 full time equivalents, be typically open to the public in the city limits of Kilgore and must have been impacted by COVID-19.  For a full list of eligible criteria and to apply for funding for the program visit www.kilgore-edc.com/covid-19.
 
“The vibrancy of Kilgore is a direct result of the many amazing small businesses in our community that make Kilgore that special place we call home,” Kilgore Mayor Ronnie Spradlin said. “That’s why we welcome the opportunity to partner with Kilgore Economic Development Corp. for funding and the Kilgore Chamber of Commerce to administer the COVID-19 Small Business Resource grant. The City is sensitive to the challenges our businesses and residents are experiencing, and we want to provide as much support as we can during this unprecedented time in our City’s history.”
 
For information on programs and resources for businesses and community members affected by COVID-19 visit www.kilgore-edc.com/covid-19  and www.kilgorechamber.org/covid19 and  www.cityofkilgore.com/civicalerts.
 
 

 

 
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