SBA Coronavirus Informational Webinars
Monday April 27-Friday May 1
When
Monday, April 27 to Friday, May 1
ONLINE WEBINAR
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 a $1,000/FTE advance not to exceed $10,000, 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.
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Tuesday, April 28 at 11:00am
https://meet.lync.com/sba123/amgonzal2/9H29K9ZT Join by phone: +1 (210) 469-4148; Conference ID: 924564292 Thursday, April 30 at 11:00am https://meet.lync.com/sba123/amgonzal2/CQN57JL4 Join by phone: +1 (210) 469-4148; Conference ID: 571248765 |
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We are getting many calls about the status of an EIDL application.
- If you have an application number then it is in process. You will receive an email from SBA only when they are ready to work on your loan and it will give you a link to create an account within their loan system. At that time you'll be able to check on status through the lending process. Right now, unfortunately it's just a matter of waiting.
- As for the EIDL advance ($1K per employee up to $10K), you won't be contacted but the money will show up in your bank account. Check your bank account and look for a deposit from US Treasury.
