SMALL BUSINESSES ENCOURAGED TO APPLY FOR ECONOMIC INJURY DISASTER LOANS
For small businesses struggling due to COVID-19, help is available via Economic Injury Disaster Loans through the U.S. Small Business Association (SBA).
Governor Greg Abbott requested the Economic Injury Disaster Declaration on March 17th, allowing the SBA to make these loans possible statewide. The purpose of the program is to provide aid to local businesses who have suffered economic injury because of COVID-19.
Small businesses can apply for an Economic Injury Disaster Loan through the Texas Division of Emergency Management website, at https://tdem.texas.gov/covid-19. Approved applicants should expect a turnaround time of about three weeks.
Additional information for businesses is available online at https://gov.texas.gov/business/page/coronavirus.