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.