Business advisors and staff at the University of Houston Texas Gulf Coast Small Business Development Center (SBDC) Network are working hard to support small business owners who are facing unprecedented and steep challenges during the COVID-19 pandemic, which the World Health Organization declared a pandemic on Wednesday, March 11. Our commitment is to share the most timely information, processes and resources available.
daily Webinars on SBA Recovery Assistance: Step-by-Step Information
Tune in daily for these free webinars for the most recent updates and resources to help your business survive the effects of COVID-19.
Each session will take place at 11 a.m. and will allow for chat Q&A.
Friday, May 29
Friday, June 5
Google, LiftFund, Restaurant Strong, Hello Alice and local community grants are being distributed immediately to small business owners impacted by coronavirus (COVID-19) pandemic.
Economic Injury Disaster Loan (EIDL)
Texas small businesses can now apply for
The SBA is unable to accept new applications at this time for the EIDL COVID-19 related assistance program, including EIDL Advances, based on available appropriations funding. Applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis. If you submitted an application, received correspondence from SBA, and have a loan number that begins with a “3”, you are in the queue.
On March 27, 2020, President Trump signed into law the CARES Act, which provided additional assistance for small business owners and non-profits, including the opportunity to get up to a $10,000 Advance on an Economic Injury Disaster Loan (EIDL). This Advance may be available even if your EIDL application was declined or is still pending, and will be forgiven.
If you wish to apply for the Advance on your EIDL, please visit SBA Disaster Assistance (www.SBA.gov/Disaster) as soon as possible to fill out a new, streamlined application. In order to qualify for the Advance, you need to submit this new application even if you previously submitted an EIDL application. Applying for the Advance will not impact the status or slow your existing application.
You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating in the program.
Lenders may begin processing loan applications as soon as April 3, 2020. The Paycheck Protection Program will be available through June 30, 2020.
For affiliation rules applicable for the Paycheck Protection Program, click here.
The Interim Final Rule for Applicable Affiliation Rules for the Paycheck Protection Program information is being posted in advance of publication in the Federal Register. The official version will appear in the Federal Register.
This program is for any small business with less than 500 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profit organization or 501(c)(19) veterans organizations affected by coronavirus/COVID-19.
Businesses in certain industries may have more than 500 employees if they meet the SBA’s size standards for those industries.
Small businesses in the hospitality and food industry with more than one location could also be eligible if their individual locations employ less than 500 workers.
A Disaster Assistance loan officer may request you to fill out the following additional forms:
The SBA Debt Relief program will provide a reprieve to small businesses as they overcome the challenges created by this health crisis. Under this program:
Express Bridge Loan Pilot Program allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 with less paperwork. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loans or used to bridge the gap while applying for a direct SBA Economic Injury Disaster loan. If a small business has an urgent need for cash while waiting for decision and disbursement on Economic Injury Disaster Loan, they may qualify for an SBA Express Disaster Bridge Loan.
Find an Express Bridge Loan Lender by connecting with your local SBA District Office.
SBA Disaster Recovery Assistance: Informational Webinars
FEMA Disaster Assistance
The Disaster Assistance Improvement Program’s (DAIP) mission is to provide disaster survivors with information, support, services, and a means to access and apply for disaster assistance through joint data-sharing efforts between federal, tribal, state, local, and private sector partners.
Prepare for Emergencies. Smart planning can help you keep your business running if disaster strikes. You’ll want to take the right steps to prevent and prepare for disaster, and know where to get aid if disaster strikes.
An estimated 25 percent of businesses don’t open again after a major disaster, according to the Institute for Business and Home Safety. Protect your small business by identifying the risks relevant to your location, both natural and man-made. Then, keep your plan of action updated. Preserve your equipment and business records by referencing this IRS guide on protecting your information before an emergency strikes. The Federal Emergency Management Agency (FEMA) also offers an emergency preparedness checklist and toolkit.
Need Help? Get No-Cost Business Advising.