Borderplex Community Capital is investing in the El Paso and West Texas region to create a more inclusive economy with expanded services and more accessibility for all.
One of the many impacts of COVID-19 was the dramatic increase in the number of individuals and families utilizing food banks. El Paso was no different. From May to December 2020, El Pasoans Fighting Hunger saw an average of 10,000 families a day a their primary distribution sites, accounting for nearly 15 million pounds of food.
Borderplex Community Capital provided a low interest loan enabling El Pasoans Fighting Hunger to purchase refrigerated trucks. In doing so, El Pasoans Fighting Hunger can travel to nearby communities to purchase fresh vegetables and perishable foods, improving what they can offer to people relying on sustenance from the food bank.
As a result of COVID-19, the Financial Assistance for Safety, Technology and Economic Resilience (FASTER) Program was established by the County of El Paso to provide $10 million in aid to small businesses negatively impacted by the pandemic. The (FASTER) Program was managed in part by Borderplex Community Capital to help qualify applicants and disburse the funds. Qualified applicants were eligible for forgivable loans and technical assistance. The monies were allocated based on location within El Paso County.
Borderplex Community Capital operated under the El Paso Community Foundation, alongside LiftFund and PeopleFund, to provide loans. The grant providers included El Paso Chamber and the El Paso Hispanic Chamber. Borderplex Community Capital was responsible for awarding $2 million of the grant monies.
Fab Lab El Paso provides community access to digital fabrication tools and resources for skillset learning, workforce training, creative collaboration, prototype development, and product manufacture. It is an entirely grassroots organization and has grown organically from support from the community.
Iron King is a family-owned operated clothing service business. The business provides ironing and folding services to its clients around Horizon City in the El Paso County. Established in 2016, the business has been serving customers for over 8 years.
The El Paso Coalition for the Homeless is the lead agency for the El Paso Continuum of Care (CoC). It is a Texas non-profit corporation that serves as a coordinating entity for numerous agencies and individuals who provide housing, services, and support to those experiencing homelessness, including social services, members of the faith community, local business and community agencies, state, federal and local governmental entities, and members of the general public. The objective of the Coalition is to collaborate with these organizations and individuals to create a system that more efficiently and effectively provides services, support, and housing to all El Paso’s homeless. At the forefront of this objective is a focus on moving those who are experiencing homelessness into permanent housing.
The Coalition serves as the backbone organization for the El Paso CoC and supports agencies that serve those experiencing homelessness through research, project management, training, and technical assistance. The Coalition also designs and implements pilot programs and other innovative projects in alignment with its guiding principles. The ultimate goal of the Coalition is a system that strives to assist these populations and providers and, therefore, achieves reduction in new instances of and returns to homelessness, while mitigating the length of those who still may experience it. The Coalition places an emphasis through multiple initiatives and research on meeting the various needs of the sub-populations, as well, including, but not limited to unaccompanied youth, veterans, chronically homeless and families with children.
Float + Calm Spa is dedicated to restful experiences and rejuvenating therapies. The business embraces the philosophy of deep relaxation and holistic well-being. Through a range of services, from float therapy to soothing massages, the business aspires to help customers to reconnect with their inner serenity.
The small business manufactures, re-uses and recycles wooden pallets for sale to businesses in the El Paso, TX market. The business sources many of its pallets for sale from users that used the pallet once or had deliveries come on a pallet and the pallet is to be discarded. The business has been around for over 4 years. Mr. Acosta is the sole owner of the business and has a background in construction and this has given him a large network of contacts who provide used pallets and access to job sites to acquire used pallets for repair and resale.