SBA Coronavirus Informational Webinars 

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Contact

Valerie Maher
Valerie.Maher@sba.gov

Texas small businesses can now apply for Paycheck Protection Program (PPP) and/or SBA Economic Injury Disaster Loans (EIDL) to help with the COVID-19 crisis.

PPP is a grant/loan program that covers your payroll costs, rent, business mortgage, and utilities.  If 75% of the loan is used to protect the payroll, entire loan will be forgiven.

EIDL is targeted, low-interest loan of up to $2 million to small businesses (3.75% interest rate, fixed) and non-profits (2.75%) that have been severely impacted by the Coronavirus. You can ask for $10,000 advance, which will be treated as a grant and paid to you in three days. For the remaining amount, there is no payment for the first 12-months.