Business Resources (Financial)

COVID-19 is going to have an economic impact on various businesses and industries.  We have compiled resources for Texas businesses looking for financial assistances during and after this pandemic.

U.S. Department of Commerce Invests $18.6 Million in CARES Act Funding to Capitalize Revolving Loan Funds to Help Small Businesses Across Texas Respond to 



U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding $18.6 million in CARES Act Recovery Assistance grants to capitalize and administer Revolving Loan Funds (RLFs) that will provide critical gap financing to small businesses and entrepreneurs that have been adversely affected by the coronavirus pandemic across Texas.

SBA and Treasury Announce New EZ and Revised Full Forgiveness Applications for the Paycheck Protection Program

The U.S. Small Business Administration (SBA), in consultation with the Department of the Treasury, posted a revised, borrower-friendly Paycheck Protection Program (PPP) loan forgiveness application implementing the PPP Flexibility Act of 2020, signed into law by President Trump on June 5, 2020.  In addition to revising the full forgiveness application, SBA also published a new EZ version of the forgiveness application.

The EZ application requires fewer calculations and less documentation for eligible borrowers. Details regarding the applicability of these provisions are available in the instructions to the new EZ application form. 

SBA and Treasury Paycheck Protection Program Loan Forgiveness Application


The Small Business Administration (SBA), in consultation with the Department of the Treasury, released the Paycheck Protection Program (PPP) Loan Forgiveness Application and detailed instructions for the application. 


The form and instructions inform borrowers how to apply for forgiveness of their PPP loans, consistent with the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).  SBA will also soon issue regulations and guidance to further assist borrowers as they complete their applications, and to provide lenders with guidance on their responsibilities.

Protective Paycheck Program (PPP) Frequently Asked Questions


The Small Business Administration (SBA), in consultation with the Department of the Treasury, intends to provide timely additional guidance to address borrower and lender questions concerning the implementation of the Paycheck Protection Program (PPP), established by section 1102 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act or the Act). This document will be updated on a regular basis. 

 Borrowers and lenders may rely on the guidance provided in this document as SBA’s interpretation of the CARES Act and of the Paycheck Protection Program Interim Final Rules (“PPP Interim Final Rules”). The U.S. government will not challenge lender PPP actions that conform to this guidance,1 and to the PPP Interim Final Rules and any subsequent rule-making in effect at the time.

Health Coverage Options


With millions of businesses forced to close or make staffing changes amid the coronavirus pandemic, many individuals have lost or are at risk of losing access to employer-sponsored health coverage.

What other health coverage options are available for workers who lose coverage because of job loss, hour reductions, or lay-offs? 

There are several health coverage alternatives that furloughed or former employees and their families may consider.

A Backgrounder on Unemployment Insurance under the CARES Act


The CARES Act significantly expanded access to the unemployment insurance (UI) system for American workers who suffer job losses or reduced hours through no fault of their own.

Paycheck Protection Program (PPP) Application Form


The Paycheck Protection Program (“PPP”) authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. All loan terms will be the same for everyone. The loan amounts will be forgiven as long as:

  • The loan proceeds are used to cover payroll costs, and most mortgage interest, rent, and utility costs over the 8 week period after the loan is made; and

  • Employee and compensation levels are maintained.


Payroll costs are capped at $100,000 on an annualized basis for each employee. Due to likely high subscription, it is anticipated that not more than 25% of the forgiven amount may be for non-payroll costs.


Loan payments will be deferred for 6 months.

COVID-19 Pandemic Could Cost Most Populous US States Hundreds of Thousands of Jobs


The inevitable result of measures taken to “flatten the curve” and prevent a major spike in coronavirus infections has been a strong shock to the economy. As noted in a recent report by The Perryman Group related to COVID-19’s impact on the US economy, many factors will determine the ultimate effects of the coronavirus on the economy, most of which are highly uncertain at present.

CORONAVIRUS EMERGENCY LOANS Small Business Guide and Checklist


The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small businesses who maintain their payroll during this emergency.

Three-Step Business Loan Plan


The U. S. Small Business Administration (SBA) provides low-interest, long-term disaster loans to businesses of all sizes, private non-profit organizations, homeowners, and renters to repair or replace uninsured/underinsured disaster damaged property. SBA disaster loans offer an affordable way for individuals and businesses to recover from declared disasters.

Quick Take: Coronavirus' Economic Impact


In the U.S., it’s important that individuals stay informed and prepared. Americans should follow the advice from the CDC, relevant state and local authorities, and health care professionals.

Public health is a shared responsibility. Communities, businesses, and individuals can and should take measures to reduce the spread of COVID-19. The CDC has advice on how families, schools, and businesses can plan for and respond to the virus.

Ways to Retain Customers During Coronavirus Outbreak


Social distancing, while good for public health, is bad for small businesses. Foot traffic has dropped steeply since the coronavirus outbreak as more and more customers stay home and self-quarantine. Many business owners are worried that the impact of COVID-19 will be deeper and more long-lasting than anticipated. As a result, merchants in every industry are looking for ways to keep their customers during the coronavirus lockdown. 

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