Are you a Texas small business that has suffered an economic loss due to COVID-19? If so, Texas Governor Greg Abbott wants you to know about a program that will provide long-term, low-interest loans to qualifying businesses across the state.
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Governor Abbott requested designation from the Small Business Administration (SBA) Economic Injury Disaster Declaration in order to access the Economic Injury Disaster Loan (EIDL) program for the entire state of Texas.
“At a time when small businesses are hurting from the economic impact of COVID-19, the State of Texas is committed to helping these businesses receive the financial relief they need to continue operating,” said Governor Abbott. “That is why today I requested that the U.S. Small Business Administration implement a declaration to provide SBA Economic Injury Disaster Loans for the entire state of Texas.”
View Governor Greg Abbott’s letter here.
Small Businesses Can Declare Their Economic Losses To SBA Due To COVID-19
All small businesses who believe they may be eligible for an SBA EIDL should visit the Texas Division of Emergency Management (TDEM) website. They will be directed to the SBA website where they can apply for assistance.
Additional information from the U.S. Small Business Administration about Economic Injury Disaster Loans can be found here.
UPDATED: YOU CAN NOW APPLY HERE.
What Should I Do If My Small Business Has Been Hurt By Coronavirus?
Small business owners should fill out the Economic Injury Worksheet and email it to: TDEMPARecovery@tdem.texas.gov.
You can share your story of economic loss from the COVID-19 (coronavirus) with the Small Business Administration and you should do it as soon as possible.
How Does An SBA Economic Injury Disaster Loan Help Small Businesses?
In order for Texas businesses to become eligible for emergency, low-interest bridge loans from the SBA to help you pay immediate costs such as your mortgage and payroll, a business from each of Texas’s 254 counties needs to show the SBA it has been negatively affected by the COVID-19 (coronavirus).
UPDATED: YOU CAN NOW APPLY HERE.
Here is what you can do to help: please email this Economic Injury Worksheet to: TDEMPARecovery@tdem.texas.gov.
Sending in this form will not financially obligate your business in any way. When the declaration is granted for the SBA emergency loan program, applicants will receive information on how to apply for their loan.
Small Businesses Can Declare Their Economic Losses To SBA Due To COVID-19
Are you a Texas small business that has suffered an economic loss due to COVID-19? If so, Texas Governor Greg Abbott wants you to know about a program that will provide long-term, low-interest loans to qualifying businesses across the state.
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