ETRDC News & Announcements

ETCOG Hires Kimbrough to Manage Business Lending Programs

Mon, 30 Jun 2025 20:37:53 GMT

Executive Director David Cleveland has named Luke Kimbrough as the new Regional Lending Manager for the East Texas Council of Governments (ETCOG). In this role, Kimbrough will oversee the day-to-day operations of the East Texas Regional Development Company’s (ETRDC) small business loan programs. He will work closely with the ETRDC Board, manage financial and administrative services, and ensure the program follows all state and federal guidelines.

Kimbrough brings with them more than seven years of experience in banking and employee benefits. Before accepting this position, Kimbrough served as CEO of the Banking Center at Citizens Bank in Gladewater. His previous roles include Vice President at First National Bank of Hughes Springs in Liberty City, Benefits Consultant for Colonial Life in Longview, and Branch Manager for Regions Bank in Kilgore. Before his banking career, Mr. Kimbrough served for several years as the Director of Public Information and Regional Services at ETCOG.

“It is a great pleasure for me to welcome Luke back to the ETCOG Family! His exceptional work in the banking community for many years position him for even greater success with our ETRDC Business Lending Programs. I am glad he is back and am even more excited to see the steady growth and expansion of one of our most important economic development programs that will undoubtedly occur under his leadership!” said Executive Director David Cleveland.

“I am excited to come back to ETCOG and the East Texas Regional Development Company,” said Kimbrough. “Spending the last decade in banking, I have gained much more experience in financial analysis and commercial lending. There is a lot of work ahead to help the businesses and economy of East Texas.”

The ETRDC is a nonprofit organization that is certified and regulated by the U.S. Small Business Administration. Its main purpose is to support local economic development by helping small businesses access long-term, fixed-rate financing. ETRDC offers financing through the SBA 504 Loan Program and Chapman Loan Program.

ETRDC Partners with Local SBDC and SBA to Host Lenders Roundtable in Longview

Wed, 31 Aug 2022 13:36:04 GMT

The East Texas Regional Development Company will sponsor an East Texas Lenders Roundtable hosted by UT Tyler-Longview Small Business Development Center (SBDC) and the Small Business Administration to discuss SBA 7a loans and 504 lending basics. Expert panelists will discuss various loan programs and resources to help businesses increase their portfolios and obtain financing.

Topics Include:

SBA Programs - Eligibility, loan process, and protecting the guaranty.
SBA 504 Lending - Understanding the product and debt refi updates.
SBDC - Resources and services to assist borrowers.

The event is open to commercial lenders and will take place on Friday, September 23, from 12:00 p.m. to 2:00 p.m. at the Longview University Center.

Space is limited, so attendees are required to register.

Grant Opportunity for Texas businesses in the Tourism, Travel, and Hospitality Industry

Fri, 15 Jul 2022 13:30:50 GMT

Texas Travel Industry Recovery Grant Program

The Office of the Governor has announced the launch of a new recovery program, the Texas Travel Industry Recovery Grant Program (TTIR), which will begin accepting applications on July 6, 2022. The purpose of this program is to provide grants to Texas businesses in the tourism, travel, and hospitality industry that were negatively impacted due to COVID-19.

The TTIR program will issue a one-time grant of up to $20,000 to eligible Texas businesses in the following industries: arts, entertainment, and recreation; food services and drinking places; traveler accommodation; RV parks and recreational camps; traveler arrangement and reservation services; convention and tradeshow organizers; breweries; wineries; and distilleries. Applications will be accepted in phases by the industry group. Below is a listing of application timelines based on the business NAICS code.

Application Timelines:

Category 1 – July 6 to July 31, 2022: NAICS 312120, 312130, 312140, 5615, 561920, and 7212
Category 2 – August 1 to August 21, 2022: NAICS 71
Category 3 – August 22 to September 11, 2022: NAICS 7211
Category 4 – September 12 to October 2, 2022: NAICS 722
Category 5 – If funds remain after the first four phases, a fifth phase will revisit any unfunded applications to award the remaining funds.

The Texas Economic Development & Tourism Office will host a series of webinars for specific industry groups to provide more information and answer questions on the program and application process. Click the link below to register for the webinars and for eligibility and grant application details, deadlines, and more.

Applications will be accepted through the TTIR Program Portal beginning July 6, 2022, in accordance with application timelines by industry grouping.

SBA Announces Updated Guidance Regarding Applicant Deadlines for COVID Economic Injury Disaster Loan Program

Mon, 06 Dec 2021 15:21:51 GMT

Applications Due by December 31

The U.S. Small Business Administration (SBA) announced updated guidance for COVID Economic Injury Disaster Loan (EIDL) program applicants to better serve small business owners in need, while funding remains available. Since its inception, the COVID EIDL program, a federal disaster relief loan designed to better serve and support our small business communities still reeling from the pandemic, especially hard-hit sectors such as restaurants, gyms, and hotels, has approved nearly $300 billion in relief aid. Specifically, the following updated guidance is being provided:

EIDL loan and Targeted Advance applications will be accepted until December 31 and will continue to be processed after this date until funds are exhausted.
Supplemental Targeted Advance applications will be accepted until December 31; however, the SBA may be unable to process some Supplemental Targeted Advance applications submitted near the December 31 deadline due to legal requirements. The SBA cannot continue to process Supplemental Targeted Advance applications after December 31 and strongly encourages eligible small businesses to apply by December 10 to ensure adequate processing time.
Borrowers can request increases up to their maximum eligible loan amount for up to two years after their loan origination date, or until the funds are exhausted, whichever is soonest.
The SBA will accept and review reconsideration and appeal requests for COVID EIDL applications received on or before December 31 if the reconsideration/appeal is received within the timeframes in the regulation. This means six months from the date of decline for reconsiderations and 30 days from the date of reconsideration decline for appeals – unless funding is no longer available.

“The COVID Economic Injury Disaster Loan (EIDL) and EIDL Advance programs still have billions of dollars available to help small businesses hard hit by the pandemic. More than 3.8 million businesses employing more than 20 million people have found financial relief through SBA’s Economic Injury Disaster Loans,” said Patrick Kelley, Associate Administrator for SBA’s Office of Capital Access. “Key enhancements have been made to the loan program that will help our nation’s businesses recover and get back on track.”

In September, Administrator Guzman announced major enhancements to the COVID Economic Injury Disaster Loan (EIDL) program. Key changes announced included:

Increased COVID EIDL Cap. The SBA lifted the COVID EIDL cap from $500,000 to $2 million. Loan funds can be used for any normal operating expenses and working capital, including payroll, purchasing equipment, and paying off debt.
Implementation of a Deferred Payment Period. The SBA will ensure small business owners will not have to begin COVID EIDL repayment until two years after loan origination so that they can get through the pandemic without having to worry about making ends meet.
Establishment of a 30-Day Exclusivity Window. To ensure Main Street businesses have additional time to access these funds, the SBA implemented a 30-day exclusivity window of approving and disbursing funds for loans of $500,000 or less. Approval and disbursement of loans over $500,000 began after the 30-day period ended.
Expansion of Eligible Use of Funds. COVID EIDL funds are now eligible to prepay commercial debt and make payments on federal business debt.
Simplification of affiliation requirements. To ease the COVID EIDL application process for small businesses, the SBA established simplified affiliation requirements to model those of the Restaurant Revitalization Fund.

How to Apply

Eligible small businesses, nonprofits, and agricultural businesses in all U.S. states and territories can apply.

Visit www.sba.gov/eidl to learn more about eligibility and application requirements. The last day that applications may be received is December 31, 2021. Applications received by December 10 for Supplemental Advance will be processed in the order received and the SBA cannot guarantee processing of all applications by December 31. All applicants should file their applications as soon as possible to allow for processing. For additional information on COVID EIDL and other recovery programs, please visit www.sba.gov/relief .

Small business owners may call SBA’s Customer Service Center 1-833-853-5638 (855-440-4960 for the deaf and hard-of-hearing) or email DisasterCustomerService@sba.gov for additional assistance. The center is open Monday through Friday from 8 a.m. to 8 p.m. EST. Abbreviated hours will be observed during the Thanksgiving holiday (closed on Thanksgiving Day; open Friday, November 26 – Sunday, November 28 from 9 a.m. to 5 p.m. EST). Multilingual representatives are available.

Small business owners may also contact SBA’s Resource Partners by visiting www.sba.gov/local-assistance .

Application Process and Fraud Control Enhancements

In addition to the policy enhancements, the SBA has invested in optimized processes and increased capacity to improve the customer service experience for applicants. Directed by Administrator Guzman to swiftly and drastically enhance COVID EIDL, the revamped management team implemented new processes and performance management such as prioritizing personnel for COVID EIDL and increasing the average number of application decisions made. The SBA accelerated daily processing of loan increases from close to 2,000 applications to more than 37,000 applications daily. Loan officer productivity also went from 1.86 applications per day to 15 applications per day. As a result of these increased loan review rates, the 600,000+ loan increase backlog has been cleared and new applications are processed immediately. At the same time, and to ensure taxpayer dollars are used to support businesses that need COVID EIDL funding most, the SBA increased fraud controls and is working in collaboration with the SBA Inspector General to closely monitor the program.

All business owners that have received previous loans through the SBA’s Paycheck Protection Program (PPP), Restaurant Revitalization Fund (RRF), or Shuttered Venue Operators Grant (SVOG) may still benefit from COVID EIDL. To learn more about the application process, visit www.sba.gov/eidl .

About Economic Injury Disaster Loans

In response to COVID-19, small business owners, including agricultural businesses, and nonprofit organizations in all U.S. states, Washington D.C., and territories can apply for the COVID-19 Economic Injury Disaster Loan (EIDL). The purpose of EIDL is to provide financial assistance for small businesses to meet financial obligations and operating expenses that could have been met had the disaster not occurred.

Small Business Loan Program Funds Two Projects

Thu, 07 Oct 2021 14:49:21 GMT

ETRDC funded two projects that will help spur economic development in Texas!

Did you know ETCOG can help local entrepreneurs seek funding solutions through the East Texas Regional Development Company small business loan program? The East Texas Regional Development Company, ETRDC, was established in 1983 as a non-profit Certified Development Company designated by the U.S. Small Business Administration (SBA). Through this program, we offer fixed-rate financing for small businesses through the SBA 504 loan program and a revolving loan fund.

Recently, ETRDC funded two projects that will help spur economic development in Texas! We are proud to announce the funding of a $1.6M SBA 504 loan for a project in Bandera County in the hospitality industry. The total project cost is over $5.5M. We also funded a $31,500 Chapman Loan for a small business located in Wood County, here in East Texas.

Our mission is to promote and assist with the economic development of East Texas through small business lending. Our primary lending program is the SBA 504 small business loan.

Contact the ETRDC with your business lending questions by calling (903) 218-6411.

SBA 504 Program Approaches Lending Cap - Expected By September 5

Wed, 25 Aug 2021 18:52:38 GMT

The National Association of Development Companies (NADCO) and the Small Business Administration (SBA) have communicated with members about the extraordinarily high volume of 504 approvals this year. The good news is that as an industry, we are doing our part to support small business recovery with what they need most: long-term, fixed-rate capital to rebuild and plan for the future.

However, the growth of the program does not come without challenges. In this case, the regular 504 program, which includes 504 debt refi with expansion, will reach its congressionally authorized cap of $7.5 billion before the cap is reset on October 1. As of August 21, the regular 504 program had approximately $7 billion in approvals, with estimates pointing to the program reaching the cap as soon as September 5th .

What does this mean to the small business applicant, the CDC, and lending partners?

Absent congressional action to provide additional authority for the regular 504 program, the SBA will be unable to approve new loans or increase existing loan approvals once the program reaches the $7.5 billion cap. Please note that the cap is based on approvals, not on closed or disbursed loans.
CDCs can submit regular 504 loans (including 504 debt refi with expansion). However, once approvals reach the $7.5 billion cap, these loans cannot be approved. NADCO has asked SBA to provide the industry with more information about what happens to loans in the process once we reach the cap. Stay tuned for additional details as they are made available.
CDCs can submit 504 debt refi without expansion loans, which can be processed with authorizations issued as usual.

Deadline Approaching for SBA Disaster Loans for Property Damage Due to Severe Storms and Tornadoes

Tue, 06 Jul 2021 20:48:17 GMT

Director Tanya N. Garfield of the U.S. Small Business Administration’s Disaster Field Operations Center-West reminds Texas businesses and residents of the July 26, 2021 deadline to apply for an SBA federal disaster loan for property damage caused by the severe storms and tornadoes in Panola County that occurred March 27, 2021.

According to Garfield, businesses of all sizes, most private nonprofit organizations, homeowners, and renters may apply for SBA federal disaster loans to repair or replace disaster-damaged property. SBA can also lend additional funds to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future.

These low-interest federal disaster loans are available in

Harrison County
Panola County
Rusk County
Shelby County

Businesses:

In addition, SBA offers Economic Injury Disaster Loans to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private nonprofit organizations of any size to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage. The deadline to apply for an SBA economic injury disaster loan is February 28, 2022.

Homeowners:

Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.

Interest Rates:

Interest rates can be as low as 3 percent for businesses, 2 percent for private nonprofit organizations, and 1.25 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.

Applicants may apply online, receive additional disaster assistance information, and download applications at https://disasterloanassistance.sba.gov/ . Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov (link sends email) for more information on SBA disaster assistance. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339 . Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

Planning for Emergencies

Fri, 04 Jun 2021 14:04:55 GMT

Step 1: Assess Your Risk

Every business has unique vulnerabilities and weaknesses. Knowing which disasters are most likely to affect your business can help you to return to operations faster. A back-to-business self-assessment can help you to assess your risks for common hazards such as hurricanes, wildfires, flooding, or even cyberattacks.

Statistics say that 25% of businesses won't open again after a disaster.

Step 2: Create a Plan

Your response plan is your roadmap to recovery, so it should be tailored to your business’s specific needs and operations. It should address immediate priorities and be easy to access. Checklists and online toolkits are effective resources to help you develop your plan. Consider the following:

IRS guide on protecting your information before an emergency strikes
The Federal Emergency Management Agency (FEMA) emergency preparedness checklist and toolkit

Focus on disasters that pose a realistic risk to your small business. Consult the following resources to lessen the financial impact of disasters and reopen your business quickly.

Step 3: Execute Your Plan

Practice your plan with your staff so you're ready when a disaster occurs.

Do you need help after a disaster? See how the SBA can help underserved small businesses recover from the economic impacts of pandemic and other disasters.

Get Financial Assistance After a Disaster

You may be eligible for a low-interest disaster recovery loan through the SBA for damaged and destroyed assets in a declared disaster. These include repair and replacement costs for real estate, personal property, machinery, equipment, inventory, and business assets. Check to see if one of these loans apply.

Submit your SBA disaster loan as soon as possible, then ask your SBA representative about increasing your physical damage loan for mitigation purposes. There is no cost to apply, and you are under no obligation to accept a loan if approved.

For more emergency preparedness advice, visit ready.gov/business or contact SBA's Disaster Assistance Customer Service Center at 1-800-659-2955 (TTY: 1-800-877-8339) or disastercustomerservice@sba.gov.

Businesses Eligible to Apply for Restaurant Revitalization Fund

Mon, 19 Apr 2021 15:31:28 GMT

SBA Administrator Isabella Casillas Guzman today announced key details on application requirements, eligibility, and a program guide for the Restaurant Revitalization Fund (RFF). The restaurant industry has been among the hardest-hit sectors during the economic downturn caused by the COVID-19 pandemic. To help bring jobs back and revive the industry, the American Rescue Plan, signed into law by President Joe Biden, established the $28.6 billion Restaurant Revitalization Fund at the U.S. Small Business Administration (SBA). The SBA will administer the funds to the hardest-hit small restaurants.

“Today, we are starting the process to help restaurants and bars across the country devastated by the pandemic, and this is our message: Help is here. With the launch of the Restaurant Revitalization Fund, we’re prioritizing funding to the hardest-hit small businesses – irreplaceable gathering places in our neighborhoods and communities that need a lifeline now to get back on their feet,” said SBA Administrator Isabella Casillas Guzman. “And, thanks to clear directives from Congress, we’re rolling out this program to make sure that these businesses can meet payroll, purchase supplies, and get what they need in place to transition to today’s COVID-restricted marketplace.”

Administrator Guzman emphasized, “We’re also focused on ensuring that the RRF program’s application process is streamlined and free of burdensome, bureaucratic hurdles – while still maintaining robust oversight. Under my leadership, the SBA aims to be as entrepreneurial as the entrepreneurs we serve – and that means meeting every small business where they are, and giving them the support they need to recover, rebuild and thrive.”

Under this announcement, details on application requirements, eligibility, and a program guide are now available in English at www.sba.gov/restaurants or in Spanish at www.sba.gov/restaurantes .

Ahead of the application launch and over the next two weeks, the SBA will establish a seven-day pilot period for the RRF application portal and conduct extensive outreach and training. The pilot period will be used to address technical issues ahead of the public launch. Participants in this pilot will be randomly selected from existing PPP borrowers in priority groups for RRF and will not receive funds until the application portal is open to the public.

Following the pilot, the application portal will be opened to the public. The official application launch date will be announced at a later date. For the first 21 days that the program is open, the SBA will prioritize reviewing applications from small businesses owned by women, veterans, and socially and economically disadvantaged individuals. Following the 21-day period, all eligible applicants are encouraged to submit applications.

The groundwork for this announcement is the result of a comprehensive effort to reach out to diverse stakeholders in order to understand the needs and barriers restaurants face in accessing emergency relief aid.

“Local restaurants and bars are being served very good news today,” said Erika Polmar, Executive Director of the Independent Restaurant Coalition. “These guidelines were crafted by the SBA after conversations with independent restaurant and bar operators across the country. We are grateful to the SBA for their hard work to make this process as accessible as possible in a short period of time. It is clear the SBA and the Biden Administration care deeply about ensuring businesses struggling the most can quickly and effectively use this relief program, and we look forward to continued conversations and collaboration to ensure this fund works as intended for the independent restaurant and bar community.”

Community business leaders from underserved communities also welcomed RRF assistance as much-needed economic relief and are working with their broad membership bases to navigate the grant application process.

“In addition to historically having less operating liquidity and revenue than almost any other small business demographic, Black-owned restaurants received significantly less stimulus funding during the COVID-19 pandemic, heightening challenges and leading to disproportionate closures,” said Ron Busby, Sr., president and CEO, U.S. Black Chambers, Inc. “The USBC believes this initiative and collaboration with the SBA will bring needed resources and relief to these often underserved businesses to aid in stabilization, recovery and ultimately, strengthen our economy.”

In addition to restaurant groups and leading advocacy groups for underserved business communities, the SBA has engaged national and state trade associations, and other small business stakeholders in recent weeks to understand their concerns about relief programs.

“Small and independent craft breweries are vibrant community gathering places that can be found in nearly every congressional district in the U.S. and contribute to manufacturing, hospitality, retail, tourism, and agricultural industries,” said Bob Pease, president and CEO, Brewers Association. “We are pleased to work with the SBA to promote the Restaurant Revitalization Fund landing page and its available resources, and assist the breweries hit hardest by COVID-19 secure much needed additional relief to help them survive the pandemic and prepare for the restart of the economy.”

At all levels, the SBA will continue engaging with stakeholder communities to inform and design delivery of financial assistance programs. As the SBA builds and prepares to roll out the program, this dedicated SBA website is the best source for up-to-date information for eligible restaurants interested in the RRF.

SBA to Increase Lending Limit for COVID-19 Economic Injury Disaster Loans

Wed, 24 Mar 2021 14:48:27 GMT

The U.S. Small Business Administration is increasing the maximum amount small businesses and non-profit organizations can borrow through its COVID-19 Economic Injury Disaster Loan (EIDL) program. Starting the week of April 6, 2021, the SBA is raising the loan limit for the COVID-19 EIDL program from 6-months of economic injury with a maximum loan amount of $150,000 to up to 24-months of economic injury with a maximum loan amount of $500,000.

“More than 3.7 million businesses employing more than 20 million people have found financial relief through SBA’s Economic Injury Disaster Loans, which provide low-interest emergency working capital to help save their businesses. However, the pandemic has lasted longer than expected, and they need larger loans. Many have called on SBA to remove the $150,000 cap. We are here to help our small businesses and that is why I’m proud to more than triple the amount of funding they can access,” said SBA Administrator Isabella Casillas Guzman.

Businesses that receive a loan subject to the current limits do not need to submit a request for an increase at this time. SBA will reach out directly via email and provide more details about how businesses can request an increase closer to the April 6 implementation date. Any new loan applications and any loans in process when the new loan limits are implemented will automatically be considered for loans covering 24 months of economic injury up to a maximum of $500,000.

This new relief builds on SBA’s previous March 12, 2021 announcement that the agency would extend deferment periods for all disaster loans, including COVID-19 EIDLs, until 2022 to offer more time for businesses to build back. In order to shift all EIDL payments to 2022, SBA will extend the first payment due date for disaster loans made in 2020 to 24-months from the date of the note and to 18-months from the date of the note for all loans made in the calendar year 2021.

Questions about SBA COVID-19 EIDL and disaster loan payments can be emailed to DisasterCustomerService@sba.gov or directed to SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard of hearing).

Shuddered Venues Grant Opportunity

Tue, 23 Mar 2021 14:31:12 GMT

The Small Business Administration has released information regarding a new grant opportunity totaling $16 Billion. The funds are available to Live and Motion Picture Venues as well as production companies and talent reps. The application opens April 8th and will fund your business with up to 45% of 2019 gross earned revenue. If you were not in operation for all of 2019, your grant eligibility would be calculated based on your revenues during your fully operational months. It is highly recommended that applicants begin the process of identifying required documentation and applying for a DUNS number. If you have any issues with this process or questions, please feel free to contact our office. Contact information can be found below.

There are a handful of eligibility requirements and priority levels for those that had a higher revenue loss. All of this information and more can be found at the links below:

SBA Website

Eligibility Requirements

FAQ Sheet

Please note; if you received PPP, the total amount of PPP you received would be deducted from your Shuddered Venues funding.

SBA Economic Aid: Temporary 504 Loan Program Change - Refinancing of Third-Party Loans

Fri, 12 Mar 2021 20:25:28 GMT

On February 26, 2021, the SBA issued Procedural Notice 5000-20099 authorizing East Texas Regional Development Company (ETRDC) , a Certified Development Company (CDC), the opportunity to refinance Third-Party Loans on existing 504 Projects . This Notice is part of Section 328(c) of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (Economic Aid Act), enacted on December 27, 2020 (Pub. L. 116-260). The CDC may allow a Third-Party Loan on an existing 504 Project to be refinanced only once under the authority of Section 328(c) of the Economic Aid Act.

The refinance must be an amount that, when combined with the outstanding balance on the subordinate 504 loan, is not more than 90 percent of the total loan to value, as evidenced by an appraisal. The Third-Party Lender must provide the appraisal to the CDC free of charge (except for reasonable charges for photocopies). Any loan that refinances the Third-Party Loan of an existing 504 Project under this temporary authority must be closed and funded no later than December 26, 2021.

“We have been given the unique opportunity to offer one-time refinancing of existing 504 projects. In my years of lending, I have never seen this happen before. Our office is already seeing inquiries and applications from small businesses across the state taking advantage of this opportunity”, stated Chuck Vanderbilt, Lending Manager for East Texas Regional Development Company.

The Borrower should have a satisfactory credit history, should provide a description of how the new funds will be used and must demonstrate the ability to repay all the obligations from the operations of the operating concern on which the loan is based.

10-Year Term: 2.68%
20-Year Term: 2.99%
25-Year Term: 3.04%

For more information, please call Chuck Vanderbilt, ETRDC Lending Manager, at 903-218-6411 or chuck.vanderbilt@etcog.org .

Disaster Assistance Available for Small Businesses Following Winter Storm

Wed, 03 Mar 2021 21:50:16 GMT

If you live in a declared disaster area and have experienced damage to your home or personal property, you may be eligible for financial assistance from SBA.

Eligibility

Homeowners may apply for up to $200,000 to replace or repair their primary residence.
Renters and homeowners may borrow up to $40,000 to replace or repair personal property — such as clothing, furniture, cars and appliances — damaged or destroyed in a disaster.
Secondary homes or vacation properties are not eligible for these loans. However, qualified rental properties may be eligible for assistance under the SBA business physical disaster loan program.
These loans cover disaster losses not fully covered by insurance or other sources. Proceeds from insurance coverage on home or property may be deducted from the eligible loan amount.

Use of proceeds

You may not use the funds to upgrade homes or make additions, unless required by the local building code.
You may be eligible for up to a 20 percent loan amount increase above the real estate damage, as verified by SBA, for improvements that will help prevent risk of future property damage caused by a similar disaster.
SBA can refinance all or part of a previous mortgage in some cases, when the applicant does not have credit available elsewhere and has suffered substantial disaster damage that is not covered by insurance.

Terms

For applicants unable to obtain credit elsewhere:

The interest rate will not exceed 4%.
The SBA will determine whether an applicant can obtain credit elsewhere.

Maturity

Up to 30 years
No pre-payment penalty or fees

Collateral requirements

Collateral is required to the extent possible for home loans over $25,000 in Presidential and Agency declarations.
Real estate is the preferred form of collateral, even if the equity is insufficient to secure the full loan amount.
SBA will ask the applicant for available collateral, but will not decline a loan for lack of collateral.

SBA Stands Ready to Assist Texas Businesses and Residents Affected by the Severe Winter Storms

Thu, 25 Feb 2021 16:38:22 GMT

Low-interest federal disaster loans are now available to Texas businesses and residents as a result of President Biden’s major disaster declaration, U.S. Small Business Administration’s acting Administrator Tami L. Perriello announced.

The declaration covers 77 Texas counties as a result of the severe winter storms that began on Feb. 11, 2021.

“SBA is strongly committed to providing Texas with the most effective and customer-focused response possible and with access to federal disaster loans to help businesses and residents affected by this disaster,” said Perriello. “Getting our businesses and communities up and running after a disaster is our highest priority at SBA.”

In consideration of the public health concerns due to the Coronavirus pandemic, on Tuesday, Feb. 23, SBA will establish a Virtual Business Recovery Center to provide personalized assistance to business owners. In addition, SBA will also open a Virtual Disaster Loan Outreach Center to help homeowners and renters. Customer Service Representatives will be available to business owners and individuals to answer questions about SBA’s disaster loan program, explain the application process and help each person complete their electronic loan application.

Businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. SBA can also lend additional funds to businesses and homeowners to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future.

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic injury assistance is available to businesses regardless of any property damage.

Interest rates can be as low as 3% for businesses, 2% for private nonprofit organizations and 1.25 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.

To be considered for all forms of disaster assistance, survivors must first contact the Federal Emergency Management Agency at www.disasterassistance.gov . Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloanassistance.sba.gov/ . Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. Individuals who are deaf or hard-of-hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

What Types of Disaster Loans are Available?

Business Physical Disaster Loans – Loans to businesses to repair or replace disaster-damaged property owned by the business, including real estate, inventories, supplies, machinery and equipment. Businesses of any size are eligible. Private, non-profit organizations such as charities, churches, private universities, etc., are also eligible.
Economic Injury Disaster Loans (EIDL) – Working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, non-profit organizations of all sizes meet their ordinary and necessary financial obligations that cannot be met as a direct result of the disaster. These loans are intended to assist through the disaster recovery period.
Home Disaster Loans – Loans to homeowners or renters to repair or replace disaster-damaged real estate and personal property, including automobiles

The 77 counties are: Angelina, Aransas, Bastrop, Bee, Bell, Bexar, Blanco, Brazoria, Brazos, Brown, Burleson, Caldwell, Calhoun, Cameron, Chambers, Collin, Comal, Comanche, Cooke, Coryell, Dallas, Denton, DeWitt, Ellis, Falls, Fort Bend, Galveston, Gillespie, Grimes, Guadalupe, Hardin, Harris, Hays, Henderson, Hidalgo, Hood, Jasper, Jefferson, Johnson, Kaufman, Kendall, Lavaca, Liberty, Madison, Matagorda, Maverick, McLennan, Montague, Montgomery, Nacogdoches, Nueces, Orange, Palo Pinto, Panola, Parker, Polk, Rockwall, Sabine, San Jacinto, San Patricio, Scurry, Shelby, Smith, Stephens, Tarrant, Travis, Tyler, Upshur, Van Zandt, Victoria, Walker, Waller, Wharton, Wichita, Williamson, Wilson and Wise.

Cybersecurity Practices Every Small Businesses Should Do

Mon, 01 Feb 2021 17:48:18 GMT

The pandemic has forced many people to conduct business from home. Unfortunately, this shift to remote work has also opened up opportunities for hackers. Cyberattacks have grown over 400% since the pandemic started , and many of these hacks target small businesses. Small businesses are often targeted because many don't have a fully-fledged IT department to protect themselves.

Unfortunately, the potential consequences of a breach on a small business are enormous. Approximately 60% of small businesses shut down just six months after a cyber security breach, because the time and resources required to recover from a cyberattack can be substantial. In short, a cyberattack can result in legal fees, lost capital, or even the loss of trust from a customer base. This is why it is essential for small businesses to take steps to protect themselves.

Here are the top five cybersecurity practices every small business needs to do:

1. Understand your current cybersecurity status

You might be under the impression that you have relatively good cybersecurity, but how can you be sure? It's crucial to audit your cybersecurity status on an annual basis. Your small business likely goes through many changes throughout the year, including the adoption of new tools, new employees, and more. Each change can potentially weaken your cybersecurity. That's why we encourage you to do (at least) an annual cybersecurity audit.

If no one in your business can complete this audit, hire external companies for this evaluation. However, note that having no one who can conduct a cybersecurity audit internally is likely a bad sign. Consider putting someone in charge of cybersecurity and offering to pay for their training. This is an investment in the long-term that can save your business from attack.

2. Train your employees

With the world shifting towards remote work, it's essential to acknowledge how much time your employees work on personal devices or in external locations. As a small business, you may not be able to implement certain cybersecurity practices, such as establishing a VPN network or issuing portable work devices to all employees. Still, your employees are your first line of defense in protecting your company information.

Hackers understand that untrained employees are often the easiest way to get into a system.

Impersonating an employee within the organization — usually by finding out their name on social platforms or the company website
Baiting with information that seems internal, that the hacker has actually found online
Hiding malware downloads in email unsubscribe buttons
Phishing emails
Using keyboard capturing techniques to gather passwords
Internal threats from current or former employees

Approach training your employees on cybersecurity in a smart way. If you simply send your employees an article describing the importance of cybersecurity, you may not get their full attention. Don't just force tutorials or conduct training sessions onto employees without explanation.

Instead, make them understand the potential impact of these attacks and how vital their scrutiny is. Giving your staff background on the dangers present will help them understand why they should care about cybersecurity.

3. Back up important information

It can be devastating to a business to lose critical financial records, customer data, planning documentation, or proprietary information. Some cyberattacks not only steal data, but also wipe and shut down systems too. This is a situation that is almost impossible to recover from.

To avoid this, you must back up all information frequently. If possible, use an automated system that automatically backs up data into a cloud. If this option isn't doable, ensure you go through a data back up at least twice a week.

4. Update systems

A system upgrade can feel annoying when you're in a productive mood — it requires you to stop what you're doing and allow the system to update. However, you must understand why system upgrades are essential and should be done immediately.

Operating systems have built-in functions to help reduce the threat of a cyberattack. However, as the world of cyber threats is continuously changing, operating system manufacturers release upgrades to keep up with the changing landscape. These upgrades are for the protection of your system and any time you delay an upgrade, you increase your risk.

Instill a company-wide policy of always upgrading systems as soon as they need it.

5. Password authentication

Two-factor authentication requires that users verify their identity with a secondary device in a short time frame. The process essentially works as an additional barrier to entry. Someone finding out your password may be likely; someone finding out your password while also having your mobile phone is much less likely.

If you think that your smart, capable employees don't need two-factor authentication, think again. People hate forgetting their passwords and want easy access to their accounts. Unfortunately, this typically manifests itself in the types of passwords they choose. The two most common passwords in 2020 were 123456 and 123456789. Not so secure at all!

Let's say that you manage to convince all of your employees to have complicated passwords. Unfortunately, that itself isn't even enough protection. Billions of credentials are for sale on the dark web, with U.S. companies being the top target.

Two-step authentication can help your employees keep their accounts secure.

Moving forward

The risks that come with poor cybersecurity are too high. By implementing these five cybersecurity practices, you help to protect your business and its future. You can choose to ignore your cybersecurity, but that doesn’t mean that hackers will ignore you. Be proactive and make sure that you are taking your business’s cybersecurity seriously.

BBB Scam Alert: COVID-19 Relief Scams Target Small Business Owners

Thu, 14 Jan 2021 16:55:52 GMT

With the new United States' COVID-19 relief package rolling out, scam artists are at it again! This time, scammers target small businesses, claiming they are missing out on pandemic relief funding they’ve never even heard of. Watch out for offers of free money – that come at a cost.

How the Scam Works

You receive a call, email, or social media message directed to you as a business owner or bookkeeper. It seems to come from a legitimate business or organization. The person you communicate with asks if your business is taking advantage of a COVID-19 relief package or government grant you are unaware of. When you tell them you aren’t, they offer to sign you up right away. In fact, since you didn’t know you should be receiving these funds, they already owe you hundreds or even thousands of dollars. Scammers may then ask you to pay a processing or delivery fee to receive your relief funds. Unfortunately, once they get your “processing fee,” they will disappear for good.

Sometimes these offers appear to come from someone you trust. Scammers are either hacking social media accounts or creating separate, lookalike profiles by stealing photos and personal information.

One business owner reported, “I was contacted by my actual bookkeeper, who I am friends with on Facebook. She told me to apply for this grant for small businesses that had suffered during the pandemic." The business owner clicked through to the website and filled out a form. Then, they got a text message confirming the loan. There was one problem: “You had to put up a certain amount of money as a processing fee to get the grant.”

How to Avoid COVID-19 Relief Scams

Never pay money for “free money.” If anyone claims you can receive money for free by paying a fee, don’t believe them. This is a common scam tactic.
Understand government grants. If your business is awarded a government grant, the government won’t ask you to pay fees to receive it. Before you believe something a stranger tells you about getting a grant, check the official list of all U.S. federal grant-making agencies at Grants.gov .
Double-check the claims before you sign up. If an organization offers you a grant or relief funds, get to know them before you agree to anything. Take a close look at their website and read consumer reviews. If you think you might be dealing with an imposter, find the official contact information and call the company to make sure the offer is legitimate.
Be careful, even if the information comes from a friend. Even if a close friend or business associate you trust sent you the information regarding a grant or COVID-19 relief, make sure the claims are real before you get involved. Social media accounts can be hacked, and con artists may be posing as your friend.

For More Information

Federal Trade Commission (FTC) warning on small business scams related to COVID-19.

To learn more about government scams, visit BBB.org/GrantScam . To avoid scams related to COVID-19, see BBB Tips on COVID-19 (coronavirus) .

It’s always best to do business with companies who adhere to the BBB Standards for Trust . Read more about BBB's Accreditation Standards . Find out how to Get BBB Accredited.

SBA and Treasury Announce PPP Re-Opening; Issue New Guidance

Fri, 08 Jan 2021 20:55:04 GMT

The U.S. Small Business Administration (SBA) , in consultation with the Treasury Department, announced that the Paycheck Protection Program (PPP) will re-open the week of January 11 for new borrowers and certain existing PPP borrowers. To promote access to capital, initially only community financial institutions will be able to make First Draw PPP Loans on Monday, January 11, and Second Draw PPP Loans on Wednesday, January 13. The PPP will open to all participating lenders shortly thereafter. Updated PPP guidance outlining Program changes to enhance its effectiveness and accessibility was released on January 6 in accordance with the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act.

This round of the PPP continues to prioritize millions of Americans employed by small businesses by authorizing up to $284 billion toward job retention and certain other expenses through March 31, 2021, and by allowing certain existing PPP borrowers to apply for a Second Draw PPP Loan.

“The historically successful Paycheck Protection Program served as an economic lifeline to millions of small businesses and their employees when they needed it most,” said Administrator Jovita Carranza. “Today’s guidance builds on the success of the program and adapts to the changing needs of small business owners by providing targeted relief and a simpler forgiveness process to ensure their path to recovery.”

“The Paycheck Protection Program has successfully provided 5.2 million loans worth $525 billion to America’s small businesses, supporting more than 51 million jobs,” said Treasury Secretary Steven T. Mnuchin. “This updated guidance enhances the PPP’s targeted relief to small businesses most impacted by COVID-19. We are committed to implementing this round of PPP quickly to continue supporting American small businesses and their workers.”

Key PPP updates include:

PPP borrowers can set their PPP loan’s covered period to be any length between 8 and 24 weeks to best meet their business needs;
PPP loans will cover additional expenses, including operations expenditures, property damage costs, supplier costs, and worker protection expenditures;
The Program’s eligibility is expanded to include 501(c)(6)s, housing cooperatives, direct marketing organizations, among other types of organizations;
The PPP provides greater flexibility for seasonal employees;
Certain existing PPP borrowers can request to modify their First Draw PPP Loan amount; and
Certain existing PPP borrowers are now eligible to apply for a Second Draw PPP Loan.

A borrower is generally eligible for a Second Draw PPP Loan if the borrower:

Previously received a First Draw PPP Loan and will or has used the full amount only for authorized uses;
Has no more than 300 employees; and
Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020.

The new guidance released includes:

For more information on SBA’s assistance to small businesses, visit sba.gov/ppp or treasury.gov/cares.

SBA Extends COVID-19 Economic Injury Disaster Loan Application Deadline Through Dec. 31, 2021

Tue, 05 Jan 2021 14:58:29 GMT

The U.S. Small Business Administration announced that the deadline to apply for the Economic Injury Disaster Loan (EIDL) program for the COVID-19 Pandemic disaster declaration is extended to Dec. 31, 2021. The deadline extension comes as a result of the recent bipartisan COVID-19 relief bill passed by Congress and enacted by President Trump on Dec. 27, 2020.

To date, the SBA has approved $197 billion in low-interest loans, which provides working capital funds to small businesses, nonprofits and agricultural businesses make it through this challenging time.

“Following the President’s declaration of the COVID-19 Pandemic, the SBA has approved over 3.6 million loans through our Economic Injury Disaster Loan program nationwide,” Administrator Jovita Carranza said. “The EIDL program has assisted millions of small businesses, including non-profit organizations, sole proprietors and independent contractors, from a wide array of industries and business sectors, to survive this very difficult economic environment.”

EIDL loan applications will continue to be accepted through December 2021, pending the availability of funds. Loans are offered at very affordable terms, with a 3.75% interest rate for small businesses and 2.75% interest rate for nonprofit organizations, a 30-year maturity, and an automatic deferment of one year before monthly payments begin. Every eligible small business and nonprofit are encouraged to apply to get the resources they need.

Refinance Loans with an SBA 504 Debt Refi

Thu, 10 Dec 2020 14:31:40 GMT

The year 2020 has been full of ups and downs and has been especially difficult for small businesses. But with historically low-interest rates, now is the time to reach out to your existing customers and prospects to refinance those debts with a Small Business Administration 504 Debt Refi without expansion.

With the 504 Refi, the 50-40-10 rule doesn’t apply!
Refi, without expansion, can use loan-to-value to structure the financing.
Net 504 loan amount cannot exceed 40% of the financing.
504 Refi amount cannot exceed the amount of the third party loan but can equal it.

Example:

$1 Million Refi Loan

Split $500,000 TPL & $500,000 Net Debenture

Since the 504 refi cannot exceed 40% of value, the appraised value must be no less than $500,000/40% = $1,250,000. We get this financing structure:

TPL: $500,00
504 net: $500,000
Equity: $250,000

You can change total project costs to the value of the real estate, it's not going to change your financing.

The borrower already owns the real estate, and its contribution is the equity it already has. And you just offered them a 25-year fully amortized loan at a low-interest rate for absolutely nothing down!

Need more information? Contact our Community and Economic Development Manager, Chuck Vanderbilt , today.

SBA Announces New Reduced 504 Loan Debenture Rates

Fri, 13 Nov 2020 19:36:48 GMT

The U.S. Small Business Administration announced the updated interest rates for the 504 Loan Program offered by Certified Development Companies (CDC). The program now allows for 10, 20, and 25-year interest rates at 2.231 percent, 2.364 percent, and 2.399 percent, respectively. Small businesses can now apply for a 504 loan at these low-interest rates.

“These are very encouraging terms and very supportive of our nation’s goal to bounce-back from COVID-19,” said William Manger, SBA Chief of Staff and Associate Administrator for the Office of Capital Access. “The longer terms and now lowest interest rates support and encourage entrepreneurs to step outside of the box and look at real investments.”

Partnered with the SBA are the CDCs, which are the driving force behind the 504 Loan Program. See SBA’s 504 Loan Program factsheet for more information on how to expand your business real estate or improve your working capital.

The 504 Loan Program is an SBA business loan program authorized under Title V of the Small Business Investment Act of 1958, 15 U.S.C. 695 et seq . The core mission of the 504 Loan Program is to provide long-term financing to small businesses for the purchase or improvement of land, buildings, and major equipment, to facilitate the creation or retention of jobs, and to support local economic development. Under the 504 Loan Program, loans are made in conjunction with private-sector lenders to small businesses by CDCs, which are certified and regulated by the SBA to promote economic development within their community.

For questions about the 504 Loan Program, please contact your local SBA District office .

Source: Small Business Administration

National Veterans Small Business Week to Kick-off Nov. 2

Fri, 30 Oct 2020 20:24:41 GMT

WASHINGTON –The U.S. Small Business Administration will celebrate veteran, service member, and military spouse small business owners nationwide during National Veterans Small Business Week, Nov. 2-6, 2020.

“National Veterans Small Business Week is the perfect time to reflect on the accomplishments of our nation’s 2.5 million veteran-owned small businesses,” said SBA Administrator Jovita Carranza. “Now more than ever, it is our duty as an agency to empower these businesses as they adapt and pivot during this critical time. The SBA, in collaboration with our resource partner network, is proud to dedicate this week to honor the veterans, service members, and military spouses who continue to serve our great country as small business owners.”

This year’s National Veterans Small Business Week theme is “#VetBiz Resources in Your Local Community.” During the week, the SBA will highlight and connect veterans nationwide to local level entrepreneurial resources.

Each day, the SBA will focus on a different aspect of veteran business ownership. Topics will include transition assistance, entrepreneurial training, government contracting, disaster assistance, and capital access.

SBA district offices, resource partners, and local organizations will host virtual educational webinars, training workshops, networking opportunities, social media events, and more.

The SBA encourages veterans, service members, National Guard and Reserve members, and military spouses to join the online conversation and share their entrepreneurial stories and best practices, including the local resources they used to establish successful businesses, using the hashtag #VetBiz.

For more information about National Veterans Small Business Week and find events in your area, visit www.sba.gov/nvsbw . For more information on the resources available for veteran entrepreneurs, visit www.sba.gov/veterans.

National Small Business Week to Kick-off Sept. 22-24

Thu, 03 Sep 2020 17:47:45 GMT

SBA Hosts Virtual Event to Honor America's Small Businesses

Today, Jovita Carranza , Administrator of the U.S. Small Business Administration, announced the kick-off for National Small Business Week .

The virtual event, rescheduled from May due to the coronavirus pandemic, will be held September 22-24. National Small Business Week honors the nation’s small businesses, many of which are veteran, women and minority-owned, for their achievements and dedication to their communities.

This year’s National Small Business Week activities will include numerous educational panels providing retooling and innovative practices for entrepreneurs as our nation’s small businesses look to pivot and recover toward a stronger economy. The event will recognize the national award winners , including the naming of this year’s National Small Business Person of the Year.

“I am thrilled to host SBA’s virtual National Small Business Week ceremony and provide this opportunity to recognize inspiring entrepreneurs from across the country for their innovation, and in many cases this year, resilience,” said SBA Administrator Carranza.

“This year, we will spotlight America’s outstanding small businesses and their stories of perseverance and their ability to pivot and overcome adversity. This event will also feature many educational forums that will inspire entrepreneurs around the country as they recover and sustain their operations.”

National Small Business Week will also recognize small business advocates for their involvement in disaster recovery, government contracting, and their support for small businesses and entrepreneurship. Awards will be presented to SBA partners in financial and entrepreneurial development, including top SCORE Chapter, Small Business Development Center, Women’s Business Center, and Veterans Business Outreach Center.

For registration and additional information on National Small Business Week, please visit sba.gov/NSBW .

Source: Small Business Administration

Webinar on Basics of PPP Loan Forgiveness

Wed, 26 Aug 2020 18:11:12 GMT

The Federal Reserve System, Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency (OCC), National Credit Union Administration (NCUA), and the Conference of State Bank Supervisors (CSBS) will host an interagency webinar on Thursday, August 27, 2020, at 11:00 a.m. ET.

Join Small Business Administration (SBA) officials for an overview of the SBA Paycheck Protection Program (PPP) Loan Forgiveness Platform. This presentation is open to all SBA lenders who participated in the SBA PPP lending program. During the webinar, SBA will:

Provide an overview of PPP loan forgiveness guidance;
Demonstrate how to access and use the SBA PPP Loan Forgiveness Platform; and
Review best practices for using the SBA PPP Loan Forgiveness Platform.

Click HERE to Register.

SBA’s Economic Injury Disaster Loans and Advance Program Reopened to All Eligible Small Businesses and Non-Profits Impacted by COVID-19 Pandemic

Tue, 16 Jun 2020 14:09:00 GMT

To further meet the needs of U.S. small businesses and non-profits, the U.S. Small Business Administration reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program portal to all eligible applicants experiencing economic impacts due to COVID-19 today.

“The SBA is strongly committed to working around the clock, providing dedicated emergency assistance to the small businesses and non-profits that are facing economic disruption due to the COVID-19 impact. With the reopening of the EIDL assistance and EIDL Advance application portal to all new applicants, additional small businesses and non-profits will be able to receive these long-term, low interest loans and emergency grants – reducing the economic impacts for their businesses, employees and communities they support,” said SBA Administrator Jovita Carranza. “Since EIDL assistance due to the pandemic first became available to small businesses located in every state and territory, SBA has worked to provide the greatest amount of emergency economic relief possible. To meet the unprecedented need, the SBA has made numerous improvements to the application and loan closing process, including deploying new technology and automated tools.”

SBA’s EIDL program offers long-term, low interest assistance for a small business or non-profit. These loans can provide vital economic support to help alleviate temporary loss of revenue. EIDL assistance can be used to cover payroll and inventory, pay debt or fund other expenses. Additionally, the EIDL Advance will provide up to $10,000 ($1,000 per employee) of emergency economic relief to businesses that are currently experiencing temporary difficulties, and these emergency grants do not have to be repaid.

SBA’s COVID-19 Economic Injury Disaster Loan (EIDL) and EIDL Advance

The SBA is offering low interest federal disaster loans for working capital to small businesses and non-profit organizations that are suffering substantial economic injury as a result of COVID-19 in all U.S. states, Washington D.C., and territories.
These loans may be used to pay debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact, and that are not already covered by a Paycheck Protection Program loan. The interest rate is 3.75% for small businesses. The interest rate for non-profits is 2.75%.
To keep payments affordable for small businesses, SBA offers loans with long repayment terms, up to a maximum of 30 years. Plus, the first payment is deferred for one year.
In addition, small businesses and non-profits may request, as part of their loan application, an EIDL Advance of up to $10,000. The EIDL Advance is designed to provide emergency economic relief to businesses that are currently experiencing a temporary loss of revenue. This advance will not have to be repaid, and small businesses may receive an advance even if they are not approved for a loan.
SBA’s EIDL and EIDL Advance are just one piece of the expanded focus of the federal government’s coordinated response.
The SBA is also assisting small businesses and non-profits with access to the federal forgivable loan program, the Paycheck Protection Program , which is currently accepting applications until June 30, 2020.

For additional information, please visit the SBA disaster assistance website at SBA.gov/Disaster .

Source: Small Business Administration

Governor Abbott Announces Phase Two To Open Texas

Tue, 19 May 2020 19:36:26 GMT

Governor Greg Abbott today announced the second phase of the State of Texas' ongoing plan to safely and strategically open Texas while minimizing the spread of COVID-19. Under Phase II, restaurants may increase their occupancy to 50% and additional services and activities that remained closed under Phase I may open with restricted occupancy levels and minimum standard health protocols laid out by the Texas Department of State Health Services (DSHS).

Additionally, the Governor announced that public schools in Texas have the option to provide in-person summer school so long as they follow social distancing practices and health protocols laid out by DSHS. These classes may begin as soon as June 1st.

"Today, tomorrow, and every day going forward is one step closer to medical discoveries that can treat and protect people from COVID-19—but until that day comes, our focus is keeping Texans safe while restoring their ability to get back to work, open their businesses, pay their bills, and put food on their tables," said Governor Abbott. "By continuing to use safe practices, we are slowing the spread of COVID-19 and protecting our most vulnerable. Now more than ever, we need to work together as one Texas. I ask all Texans to continue heeding the guidance of our state and federal medical experts and do their part to protect public health. If we all unite in our resolve, we will overcome this challenge."

Via Executive Order , the following services and activities may open under Phase II.

Child Care Centers (May 18)
Massage and Personal-Care Centers (May 18)
Youth Clubs (May 18)
Rodeo and Equestrian Events (May 22)
Bowling Alleys, Bingo Halls, Simulcast Racing, and Skating Rinks (May 22)
Bars (May 22)
Aquariums and Natural Caverns (May 22)
Zoos (May 29)
Day Youth Camps (May 31)
Overnight Youth Camps (May 31)
Youth Sports (May 31)
Certain professional sports without in-person spectators (May 31)

All sporting and camp activities are required to adhere by special safety standards, and minimum standard health protocols have been established for all newly-announced opened services and activities. Businesses located in office buildings may also open but must limit their occupancy to the greater of 10 employees or 25% of their workforce.

Additionally, restaurants may expand their occupancy to 50% beginning May 22. Bars—including wine tasting rooms, craft breweries, and similar businesses—may open at 25% occupancy but like restaurants, these occupancy limits do not apply to outdoor areas that maintain safe distancing among parties.

Opened services and activities under Phase II are subject to certain occupancy limits and health and safety protocols. For details and a full list of guidelines, openings, and relevant dates, visit www.gov.texas.gov/opentexas .

Certain counties experiencing surges in COVID-19 cases will have their beginning date of Phase II delayed until May 29. These counties include El Paso, Randall, Potter, Moore, and Deaf Smith. Surge Response Teams are actively working in these areas to increase testing, maintain hospital capacity, and ensure that COVID-19 is contained and mitigated.

During his remarks, the Governor also presented information on the state's hospitalization and positivity rates—two metrics the Governor and his team of medical experts have used to inform the state's ongoing plan to safely and strategically open. Details on these metrics can be found in presentation slides, Hospitalizations Chart and Positivity Rate Chart .

Source: Office of the Texas Governor, Greg Abbott

COVID-19 by the Numbers in Texas

Mon, 11 May 2020 18:28:27 GMT

As the COVID-19 (coronavirus) pandemic continues to evolve, nearly 3.5 million people worldwide have been infected and nearly 240,000 have died. This special issue of the Hibbs Brief discusses the trends and recent numbers on the COVID-19 outbreak in Smith County, East Texas and the overall state. The Hibbs Institute finds that Tyler Metropolitan Statistical Area (MSA) has proportionally lower rates of confirmed cases and deaths compared to other highlighted areas of Texas.

The first confirmed case of COVID-19 in East Texas occurred on March 10 in Gregg County. On March 13, three cases were confirmed in Smith County. A county typically shows a low number of confirmed cases until it reaches the community spread contagion. Then, the number of cases can increase exponentially in a short period of time if strong measures, such as social distancing, are not put into place.

Since counties in Texas vary widely in population size, density and their interaction with other locations the development

of COVID-19 has impacted each county differently. By April 30, the spread of COVID-19 in Texas reached 28,087 cases;4 less than two months since the first confirmed case was announced in Fort Bend County in Houston. See Figure 1.

Since Texas is a large state with 254 counties, it may be difficult to detect whether the peak of the COVID–19 pandemic

has been reached and when the spread of the virus will come to an end. The pandemic showed different magnitudes and timelines in the Texas counties during these past two months. On April 10, the Texas Department of State Health Services (TDSHS) reported the highest number of confirmed COVID-19 cases with 1,441; the second largest was on April 9, with 1,093; and the third largest was on April 30, with 1,033. The contagion curve showing new COVID–19 cases does not seem to flattening yet in Texas (Figure 2)

According to data collected, Smith County has successfully contained the spread of the COVID-19 pandemic, as it can be observed in Figure 3 (red line). Figures 3 and 4 show the development of the pandemic spread in Smith County and East Texas. While Figure 3 illustrates the pandemic’s growth as the total confirmed cases by day over a six-week period, Figure 4 gives a general perspective of the stage of the outbreak via new COVID-19 cases by day. Smith County saw a peak of new COVID-19 cases on April 7 with 18 new confirmed cases, then the spread slowed down over the following weeks. In contrast, the spread of COVID-19 is still growing in several counties of East Texas. East Texas saw a peak of new confirmed cases on April 30 with 66 new cases (Figure 4).

Figures 5 and 6 are complementary to show the COVID-19 progress over time during the past six or seven weeks in the

Dallas MSA, Houston MSA, Austin MSA and San Antonio MSA. The Houston MSA has the largest number of confirmed

COVID-19 cases in Texas with nearly 9,000 cases by April 30 and an average of 210 new additional cases per day during the previous 10 days. Next on the list is the Dallas MSA with nearly 7,500 confirmed cases and an average of 230 new additional cases per day in the same timeframe (Figure 6). Similarly, the Austin and San Antonio MSAs rank third and fourth largest, respectively, with 2,131 and 1,558 confirmed cases of COVID-19 by April 30. Austin and San Antonio MSAs saw an average of 66 and 37 new additional cases, respectively, during the previous 10 days.

Source: UT Tyler Hibbs Institute for Business & Economic Research

Governor Abbott Issues Executive Order To Expand Openings Of Certain Businesses and Activities

Tue, 05 May 2020 16:17:28 GMT

WHEREAS, I, Greg Abbott, Governor of Texas, issued a disaster proclamation on March 13, 2020, certifying under Section 418.014 of the Texas Government Code that the novel coronavirus (COVID-19) poses an imminent threat of disaster for all counties in the State of Texas; and

WHEREAS, on April 12, 2020, I issued a proclamation renewing the disaster declaration for all counties in Texas; and

WHEREAS, the Commissioner of the Texas Department of State Health Services (DSHS), Dr. John Hellerstedt, has determined that COVID-19 represents a public health disaster within the meaning of Chapter 81 of the Texas Health and Safety Code, and renewed that determination on April 17, 2020; and

WHEREAS, I have issued executive orders and suspensions of Texas laws in response to COVID-19, aimed at protecting the health and safety of Texans and ensuring an effective response to this disaster; and

WHEREAS, I issued Executive Order GA-08 on March 19, 2020, mandating certain obligations for Texans in accordance with the President’s Coronavirus Guidelines for America, as promulgated by President Donald J. Trump and the Centers for Disease Control and Prevention (CDC) on March 16, 2020, which called upon Americans to take actions to slow the spread of COVID-19 for 15 days; and

WHEREAS, I issued Executive Order GA-14 on March 31, 2020, based on the President’s announcement that the restrictive Guidelines should extend through April 30, 2020, in light of advice from Dr. Anthony Fauci and Dr. Deborah Birx, and also based on guidance by DSHS Commissioner Dr. Hellerstedt and Dr. Birx that the spread of COVID-19 can be reduced by minimizing social gatherings; and

WHEREAS, Executive Order GA-14 superseded Executive Order GA-08 and expanded the social-distancing restrictions and other obligations for Texans, aimed at slowing the spread of COVID-19 and protecting public health and safety; and

WHEREAS, after more than two weeks of having in effect the heightened restrictions like those required by Executive Order GA-14, which had saved lives, it was clear that the disease still presented a serious threat across Texas that could persist in certain areas, but also that COVID-19 had wrought havoc on many Texas businesses and workers affected by the restrictions that were necessary to protect human life; and

WHEREAS, on April 17, 2020, I therefore issued Executive Order GA-17, creating the Governor’s Strike Force to Open Texas to study and make recommendations on safely and strategically restarting and revitalizing all aspects of the Lone Star State—work, school, entertainment, and culture; and

WHEREAS, also on April 17, 2020, I issued Executive Order GA-16 to generally continue through April 30, 2020, the same social-distancing restrictions and other obligations for Texans according to federal guidelines, but also to offer a safe, strategic first step to Open Texas, including permitting retail pick-up and delivery services; and

WHEREAS, I subsequently issued Executive Order GA-18 on April 27, 2020, to expand the services that are reopened in Texas, including allowing in-store retail and dine-in restaurant services at establishments operating within specific capacity limits; and

WHEREAS, as normal business operations resume, everyone must act safely, and to that end Executive Order GA-18 and this executive order provide that all persons should follow the health protocols recommended by DSHS, which whenever achieved will mean compliance with the minimum standards for safely reopening, but which should not be used to fault those who act in good faith but can only substantially comply with the standards in light of scarce resources and other extenuating COVID-19 circumstances; and

WHEREAS, Texas must continue to protect lives while restoring livelihoods, both of which can be achieved with the expert advice of medical professionals and business leaders; and

WHEREAS, the “governor is responsible for meeting … the dangers to the state and people presented by disasters” under Section 418.011 of the Texas Government Code, and the legislature has given the governor broad authority to fulfill that responsibility; and

WHEREAS, under Section 418.012, the “governor may issue executive orders … hav[ing] the force and effect of law;” and

WHEREAS, under Section 418.016(a), the “governor may suspend the provisions of any regulatory statute prescribing the procedures for conduct of state business … if strict compliance with the provisions … would in any way prevent, hinder, or delay necessary action in coping with a disaster;” and

WHEREAS, under Section 418.017(a), the “governor may use all available resources of state government and of political subdivisions that are reasonably necessary to cope with a disaster;” and

WHEREAS, under Section 418.018(c), the “governor may control ingress and egress to and from a disaster area and the movement of persons and the occupancy of premises in the area;” and

WHEREAS, under Section 418.173, failure to comply with any executive order issued during the COVID-19 disaster is an offense punishable by a fine not to exceed $1,000, confinement in jail for a term not to exceed 180 days, or both fine and confinement.

NOW, THEREFORE, I, Greg Abbott, Governor of Texas, by virtue of the power and authority vested in me by the Constitution and laws of the State of Texas, do hereby order the following on a statewide basis effective immediately, and continuing through May 19, 2020, subject to extension based on the status of COVID-19 in Texas and the recommendations of the Governor’s Strike Force to Open Texas, the White House Coronavirus Task Force, and the CDC:

In accordance with guidance from DSHS Commissioner Dr. Hellerstedt, and to achieve the goals established by the President to reduce the spread of COVID-19, every person in Texas shall, except where necessary to provide or obtain essential services or reopened services, minimize social gatherings and minimize in-person contact with people who are not in the same household. People over the age of 65, however, are strongly encouraged to stay at home as much as possible; to maintain appropriate distance from any member of the household who has been out of the residence in the previous 14 days; and, if leaving the home, to implement social distancing and to practice good hygiene, environmental cleanliness, and sanitation.

“Essential services” shall consist of everything listed by the U.S. Department of Homeland Security (DHS) in its Guidance on the Essential Critical Infrastructure Workforce, Version 3.0 or any subsequent version, plus religious services conducted in churches, congregations, and houses of worship. Other essential services may be added to this list with the approval of the Texas Division of Emergency Management (TDEM). TDEM shall maintain an online list of essential services, as specified in this executive order and any approved additions. Requests for additions should be directed to TDEM at EssentialServices@tdem.texas.gov or by visiting the TDEM website at www.tdem.texas.gov/essentialservices .

“Reopened services” shall consist of the following to the extent they are not already “essential services:”

Retail services that may be provided through pick-up, delivery by mail, or delivery to the customer’s doorstep.
In-store retail services, for retail establishments that operate at up to 25 percent of the total listed occupancy of the retail establishment.
Dine-in restaurant services, for restaurants that operate at up to 25 percent of the total listed occupancy of the restaurant; provided, however, that

this applies only to restaurants that have less than 51 percent of their gross receipts from the sale of alcoholic beverages;
the occupancy limits do not apply to customers seated in outdoor areas of the restaurant; and
valet services are prohibited except for vehicles with placards or plates for disabled parking.

Movie theaters that operate at up to 25 percent of the total listed occupancy of any individual theater for any screening.
Shopping malls that operate at up to 25 percent of the total listed occupancy of the shopping mall; provided, however, that within shopping malls, the food-court dining areas, play areas, and interactive displays and settings must remain closed.
Museums and libraries that operate at up to 25 percent of the total listed occupancy; provided, however, that

local public museums and local public libraries may so operate only if permitted by the local government, and
any components of museums or libraries that have interactive functions or exhibits, including child play areas, must remain closed.

Services provided by an individual working alone in an office, effective until 12:01 a.m. on Monday, May 18, 2020, when this single-person office provision is superseded by the expanded office-based services provision set forth below.
Golf course operations.
Local government operations, including county and municipal governmental operations relating to permitting, recordation, and document-filing services, as determined by the local government.
Wedding venues and the services required to conduct weddings; provided, however, that for weddings held indoors other than at a church, congregation, or house of worship, the facility may operate at up to 25 percent of the total listed occupancy of the facility.
Wedding reception services, for facilities that operate at up to 25 percent of the total listed occupancy of the facility; provided, however, that the occupancy limits do not apply to the outdoor areas of a wedding reception or to outdoor wedding receptions.
Starting at 12:01 a.m. on Friday, May 8, 2020:

Cosmetology salons, hair salons, barber shops, nail salons/shops, and other establishments where licensed cosmetologists or barbers practice their trade; provided, however, that all such salons, shops, and establishments must ensure at least six feet of social distancing between operating work stations.
Tanning salons; provided, however, that all such salons must ensure at least six feet of social distancing between operating work stations.
Swimming pools; provided, however, that (i) indoor swimming pools may operate at up to 25 percent of the total listed occupancy of the pool facility; (ii) outdoor swimming pools may operate at up to 25 percent of normal operating limits as determined by the pool operator; and (iii) local public swimming pools may so operate only if permitted by the local government.

Starting at 12:01 a.m. on Monday, May 18, 2020:

Services provided by office workers in offices that operate at up to the greater of (i) five individuals, or (ii) 25 percent of the total office workforce; provided, however, that the individuals maintain appropriate social distancing.
Manufacturing services, for facilities that operate at up to 25 percent of the total listed occupancy of the facility.
Gyms and exercise facilities and classes that operate at up to 25 percent of the total listed occupancy of the gym or exercise facility; provided, however, that locker rooms and shower facilities must remain closed, but restrooms may open

For Texas counties that have filed with DSHS, and are in compliance with, the requisite attestation form promulgated by DSHS regarding five or fewer cases of COVID-19, those in-store retail services, dine-in restaurant services, movie theaters, shopping malls, museums and libraries, indoor wedding venues, wedding reception services, swimming pools, services provided by office workers in offices of more than five individuals, manufacturing services, and gyms and exercise facilities and classes, as otherwise defined and limited above, may operate at up to 50 percent (as opposed to 25 percent).
Such additional services as may be enumerated by future executive orders or proclamations by the governor.

The conditions and limitations set forth above for reopened services shall not apply to essential services. The total listed occupancy limits described above refer to the maximum occupant load set by local or state law, but for purposes of this executive order, staff members are not included in determining operating levels except for non-essential manufacturing service providers and services provided by office workers. Notwithstanding anything herein to the contrary, the governor may by proclamation identify any county or counties in which reopened services are thereafter prohibited, in the governor’s sole discretion, based on the governor’s determination in consultation with medical professionals that only essential services should be permitted in the county, including based on factors such as an increase in the transmission of COVID-19 or in the amount of COVID-19-related hospitalizations or fatalities.

In providing or obtaining essential services or reopened services, all persons (including individuals, businesses and other organizations, and any other legal entity) should use good-faith efforts and available resources to follow the minimum standard health protocols recommended by DSHS, found at www.dshs.texas.gov/coronavirus. All persons should also follow, to the extent not inconsistent with the DSHS minimum standards, the Guidelines from the President and the CDC, as well as other CDC recommendations. Individuals are encouraged to wear appropriate face coverings, but no jurisdiction can impose a civil or criminal penalty for failure to wear a face covering. Nothing in this executive order or the DSHS minimum standards precludes requiring a customer wishing to obtain services to follow additional hygiene measures.

Religious services should be conducted in accordance with the joint guidance issued and updated by the attorney general and governor.

People shall avoid visiting bars, massage establishments, tattoo studios, piercing studios, sexually oriented businesses, or interactive amusement venues such as bowling alleys, video arcades, amusement parks, water parks, or splash pads, unless these enumerated establishments or venues are specifically added as a reopened service by proclamation or future executive order of the governor. Notwithstanding anything herein to the contrary, the governor may by proclamation add to this list of establishments or venues that people shall avoid visiting. To the extent any of the establishments or venues that people shall avoid visiting also offer reopened services permitted above, such as restaurant services, these establishments or venues can offer only the reopened services and may not offer any other services. The use of drive-thru, pickup, or delivery options for food and drinks remains allowed and highly encouraged throughout the limited duration of this executive order.

This executive order does not prohibit people from accessing essential or reopened services or engaging in essential daily activities, such as going to the grocery store or gas station; providing or obtaining other essential or reopened services; visiting swimming pools, parks, beaches, rivers, or lakes; hunting or fishing; or engaging in physical activity like jogging, bicycling, or other outdoor sports, so long as the necessary precautions are maintained to reduce the transmission of COVID-19 and to minimize in-person contact with people who are not in the same household.

In accordance with the Guidelines from the President and the CDC, people shall not visit nursing homes, state supported living centers, assisted living facilities, or long-term care facilities unless to provide critical assistance as determined through guidance from the Texas Health and Human Services Commission (HHSC). Nursing homes, state supported living centers, assisted living facilities, and long-term care facilities should follow infection control policies and practices set forth by the HHSC, including minimizing the movement of staff between facilities whenever possible.

In accordance with the Guidelines from the President and the CDC, schools shall remain temporarily closed to in-person classroom attendance by students and shall not recommence before the end of the 2019-2020 school year, except that a student (accompanied by an adult if needed) may, as allowed by the school consistent with the minimum standard health protocols found in guidance issued by the Texas Education Agency (TEA), visit his or her school campus (a) for limited non-instructional administrative tasks such as cleaning out lockers, collecting personal belongings, and returning school items like band instruments and books; or (b) for graduating seniors, to complete post-secondary requirements that cannot be accomplished absent access to the school facility and its resources, excluding any activity or assessment which can be done virtually. Public education teachers and staff are encouraged to continue to work remotely from home if possible, but may return to schools to conduct remote video instruction, as well as perform administrative duties, under the minimum standard health protocols found in guidance issued by the TEA. Private schools and institutions of higher education should establish similar standards to allow teachers and staff to return to schools to conduct remote video instruction and perform administrative duties when it is not possible to do so remotely from home. Notwithstanding anything herein to the contrary, schools may conduct graduation ceremonies consistent with the minimum standard health protocols found in guidance issued by the TEA. Nothing in this executive order, the DSHS minimum standards, or the joint guidance issued and updated by the attorney general and governor precludes churches, congregations, and houses of worship from using school campuses for their religious services or other allowed services.

This executive order shall supersede any conflicting order issued by local officials in response to the COVID-19 disaster, but only to the extent that such a local order restricts essential services or reopened services allowed by this executive order, allows gatherings prohibited by this executive order, or expands the list of essential services or the list or scope of reopened services as set forth in this executive order. I hereby suspend Sections 418.1015(b) and 418.108 of the Texas Government Code, Chapter 81, Subchapter E of the Texas Health and Safety Code, and any other relevant statutes, to the extent necessary to ensure that local officials do not impose restrictions in response to the COVID-19 disaster that are inconsistent with this executive order, provided that local officials may enforce this executive order as well as local restrictions that are consistent with this executive order.

This executive order supersedes Executive Order GA-18, but does not supersede Executive Orders GA-10, GA-13, GA-17, GA-19, or GA-20. This executive order shall remain in effect and in full force until 11:59 p.m. on May 19, 2020, unless it is modified, amended, rescinded, or superseded by the governor.

Given under my hand this the 5th day of May, 2020.

Governor Greg Abbott

Source: Office of the Texas Governor Greg Abbott

Smith, Gregg Counties Lead Large Texas MSAs In Healthcare System Capacity Per Capita

Mon, 04 May 2020 18:23:53 GMT

In the wake of the COVID–19 pandemic, healthcare systems in areas that have seen dramatic spikes in illness from the novel coronavirus have been significantly strained. How well positioned is the East Texas healthcare infrastructure to handle the pandemic, and how does East Texas compare to the rest of the state? This issue of the Hibbs Newsletter discusses the healthcare system capacity in Greater East Texas. The Hibbs Institute finds that Smith and Gregg Counties have a robust healthcare system that rivals large Texas MSAs when capacity is evaluated on a per capita basis.

The number of confirmed COVID–19 cases this week in the US has hit 1 million, which is 36 percent of the worldwide cases (2.8 million). Fatality rates caused by COVID-19 itself can increase significantly in any given area if an affected patient with severe symptoms does not have the medical aid required to overcome the illness.

Since COVID–19 is highly contagious, most of the world has taken significant steps to contain or slow the spread of the virus. The term “flattening the curve” describes a phenomenon where restriction of social contact reduces the impact at any one time on a healthcare system. Assuming a large number of individuals will contract COVID–19, these individuals would not be sick at the same time so as not to exceed healthcare system capacity. The more COVID–19 cases can be distributed in the following months, the better medical assistance can be provided; lowering the fatality rate (Figure 1).

Healthcare system capacity varies widely across the globe. The typical variables used to measure the healthcare system capacity are the number of physicians and the number of hospital beds per 100,000 population. For

instance, the US has 924,107 staffed beds in all hospitals (6,146); equaling 281.5 beds per 100,000 population. Compared with other nations, this number may be considered relatively high and efficient under normal circumstances.

So what is the healthcare system capacity here in East Texas? For Smith and Gregg counties in particular, the capacity is favorable. The UT Tyler Hibbs Institute further describes how the capacity is determined.

Trauma Services Areas in Greater East Texas

The Texas Department of State and Health Services classifies the 254 counties in Texas into 22 trauma service areas (TSAs). The department grouped areas with relatively low hospital bed capacities (typically rural) with well-endowed areas. This grouping describes how the healthcare system may provide the necessary medical assistance to Texas residents during times with high usage, as you may find during a pandemic. (Table 1). The Hibbs Institute uses the TSA classification to compare the healthcare system capacities in selected TSA areas.

Within the area labeled Greater East Texas, trauma service area F includes eight counties, while trauma service area G includes 19 counties. Both service areas combined (27 counties) include the Hibbs Institute influence area (23 counties in East Texas) plus four counties: Freestone, Houston, Shelby and Trinity (Figure 2).

Healthcare System Capacity in Greater East Texas

The healthcare system capacity is considerably different from county to county in Greater East Texas. The ratios between population and primary care physicians (PCP) are common variables used to measure the capacity. For instance, the ratio of population to PCP in Smith County is 810.9, or 811 (Table 2). This ratio means that the county has one primary care physician for every 811 individuals. A smaller number implies a larger capacity. In contrast, Van Zandt County shows a similar ratio of 5,015.5, meaning that the county has one primary care physician for every 5,015 individuals.

While the most populated counties in Greater East Texas (Smith, Gregg and Bowie) have outstanding positions in the state ranking (fifth, sixth and ninth, respectively), counties such as Rains, Marion and Shelby rank among the bottom 50 out of 254 Texas counties. Remarkably, Smith, Gregg and Bowie counties show significantly better ratios than large metropolitan statistical areas (MSAs) in Texas (Dallas, Houston, Austin and San Antonio). They are included in the following information graphic for comparison. As of Tuesday, there are 53 active cases in Smith County and 74 active cases in Gregg County, according to the Northeast Texas Public Health District. By comparing the number of cases to PCP, the data shows that both counties are well-positioned to overcome this pandemic.

Source: UT Tyler Hibbs April Newsletter

Governor Abbott Announces Phase One To Open Texas, Establishes Statewide Minimum Standard Health Protocols

Mon, 27 Apr 2020 13:38:57 GMT

Creates Statewide Contact Tracing Program

Issues Special Guidance For Texans Over 65, Nursing Homes

Governor Greg Abbott announced yesterday the first phase of the State of Texas' ongoing plan to safely and strategically open Texas while minimizing the spread of COVID-19. Under Phase I, certain services and activities are allowed to open with limited occupancy, and the Texas Department of State Health Services (DSHS) is issuing minimum standard health protocols for all businesses and individuals to follow. The Governor also outlined special guidance for Texans over 65 and detailed a comprehensive mitigation plan for nursing homes in Texas. The Governor also announced a statewide testing and tracing program developed by DSHS that will help public health officials quickly identify and test Texans who contract COVID-19 and mitigate further spread of the virus.

The Governor's announcement is accompanied by Texans Helping Texans: The Governor's Report to Open Texas . This detailed report, available on the strike force website, helps Texans understand phase one by outlining the new protocols, guidance, and recommendations. The report also includes a series of Open Texas Checklists that outline DSHS' minimum standard health protocols for all Texans.

"This strategic approach to opening the state of Texas prioritizes the health and safety of our communities and follows the guidelines laid out by our team of medical experts," said Governor Abbott. "Now more than ever, Texans must remain committed to safe distancing practices that reduce the spread of COVID-19, and we must continue to rely on doctors and data to provide us with the safest strategies to restore Texans' livelihoods. We must also focus on protecting the most vulnerable Texans from exposure to COVID-19. If we remain focused on protecting the lives of our fellow Texans, we can continue to open the Lone Star State."

By way of Executive Order (GA-18) , all retail stores, restaurants, movie theaters, and malls are permitted to reopen on Friday, May 1. These services must limit their capacity to 25% of their listed occupancy. Within shopping malls, the food-court dining areas, play areas, and interactive displays and settings must remain closed.

All museums and libraries may open under the same 25% occupancy limitation, but interactive areas of museums must remain closed. State libraries and museums will open by May 1, and local public museums and libraries may reopen only if permitted by the local government. Single-person offices may reopen as well.

Churches and places of worship remain open. Outdoor sports are allowed to resume so long as no more than four participants are playing together at one time. Certain social distancing practices must also be followed. Local government operations, including county and municipal government operations relating to permitting, recordation, and document-filing services, may reopen as determined by the local government.

DSHS has recommended minimum standard health protocols for all individuals , all employers and employees , as well as industry-specific protocols for retailers , retail customers, restaurants , restaurant patrons , movie theaters, movie theater customers , museums and libraries , museum and library visitors , outdoor sports participants , single-person offices , and low COVID-19 counties . These protocols are outlined in the Open Texas Checklists within the Governor's report beginning on page 20.

Essential services such as farmers and ranchers, grocery and drug stores, banks, and gas stations will continue to operate. Public swimming pools, bars, gyms, cosmetology salons, massage establishments, interactive amusement venues, such as bowling alleys and video arcades, and tattoo and piercing studios will remain closed through Phase I. Nursing homes, state supported living centers, assisted living facilities, and long-term care facilities must remain closed to visitors unless to provide critical assistance.

The Governor also established increased occupancy protocols for certain counties with five or fewer laboratory confirmed cases of COVID-19. Those counties may, on an individualized basis, increase occupancy limits to up to 50% for restaurants, retail, shopping malls, museums and libraries, and movie theaters if they meet certain criteria. The county judge must certify and affirm to DSHS that the following standards have been investigated and confirmed to be met:

The county had five or fewer COVID-19 laboratory confirmed cases on April 30, 2020 or, at a later date, five or fewer active COVID-19 cases as verified by DSHS.
The county has created a list of testing opportunities in the county or the area.
The county has been in contact with its designated regional advisory council to ensure the community is prepared for any needed health care transfers.
The county has provided public notice to the residents of the county, including: Signs and symptoms of COVID-19: Recommended health and safety protocols in line with CDC guidance; Information regarding how residents can get tested in the area; A link to the DSHS website where residents can go to learn about community spread in nearby communities, in order to help county residents understand their risk to exposure if they travel regularly outside of the county.
The county has contacted each of the following types of facilities located in the county to ensure they are complying with Texas Health and Human Services (HHSC) and the Centers for Disease Control and Prevention (CDC) guidelines regarding COVID-19: Nursing homes; Assisted living facilities; Industrial, agricultural, or business facilities with a significant number of employees; and City or county jails.
The county is equipped and prepared to protect vulnerable populations, including nursing homes and assisted living facilities.
The county has documented procedures to be activated if a resident becomes COVID-19 positive, including procedures to take appropriate measures as necessary in line with the plan to open Texas.
The county has contacted DSHS in order to create a plan to ensure contact tracing will occur within 48 hours of a positive test reported to DSHS.

Phase I will begin Friday May 1 and continue until at least May 18. The Governor will continue to evaluate next steps for the state.

The Governor's Report to Open Texas also outlines a long-term comprehensive mitigation plan for nursing homes in Texas. Eight recommendations have been developed by HHSC to help mitigate the further spread of COVID-19 and decrease the risk of infection in these facilities. A summary of the recommendations is below, and full recommendations are in the Governor's report beginning on page 9 :

Quantify the extent of infection immediately
Establish a comprehensive mitigation plan
Re-evaluate current COVID-19 positive facilities
Appropriate isolation and placement of COVID-19 patients
Implement enhanced access controls
Enhance control of staff access
Effective notifications
Continue containment efforts

During the press conference, the Governor also announced a new statewide testing and contact tracing program. Developed and implemented by DSHS, this program will help identify individuals who have contracted COVID-19 and those who may need to quarantine or be tested due to potential exposure. This phased implementation will allow Texans to box in the virus and slow, or even stop, further spread. Phase I of the tracing program has been completed, and Phase II begins today. Phase III begins May 11. More details about the contact tracing program are available in the Governor's Report to Open Texas beginning on page 16.

Governor Abbott today also relaxed certain restrictions related to health care professionals and issued amended requirements related to hospital capacity. Under an Executive Order (GA-19) issued today:

All licensed health care professionals shall be limited in their practice by, and must comply with, any emergency rules promulgated by their respective licensing agencies dictating minimum standards for safe practice during the COVID-19 disaster.
Every hospital licensed under Chapter 241 of the Texas Health & Safety Code shall reserve at least 15% of its hospital capacity for treatment of COVID-19 patients, accounting for the range of clinical severity of COVID-19 patients, as determined by HHSC.

Additionally, the Governor issued an Executive Order (GA-20) to eliminate the mandatory 14-day quarantine period for individuals traveling from Louisiana. Under GA-20, the mandated 14-day quarantine for travelers from the following areas remains in place: California; Connecticut; New York; New Jersey; Washington; Atlanta, Georgia; Chicago, Illinois; Detroit, Michigan, and Miami, Florida.

View Texans Helping Texans: The Governor's Report to Open Texas .

View the Governor's Executive Orders issued yesterday:

GA-18 : Relating to the expanded reopening of services as part of the safe, strategic plan to Open Texas in response to the COVID-19 disaster.
GA-19 : Relating to hospital capacity during the COVID-19 disaster.
GA-20 : Relating to expanding travel without restrictions as part of the safe, strategic plan to Open Texas in response to the COVID-19 disaster.

Source: Office of the Governor, Greg Abbott

Governor Abbott Issues Executive Order To Safely And Strategically Reopen Select Services And Activities In Texas

Mon, 20 Apr 2020 19:48:49 GMT

WHEREAS, on April 12, 2020, I issued a proclamation renewing the disaster declaration for all counties in Texas; and

WHEREAS, I have issued numerous executive orders and suspensions of Texas laws in response to COVID-19, aimed at protecting the health and safety of Texans and ensuring an effective response to this disaster; and

WHEREAS, shortly before Executive Order GA-08 expired, I issued Executive Order GA-14 on March 31, 2020, based on the President’s announcement that the restrictive social-distancing Guidelines should extend through April 30, 2020, in light of advice from Dr. Anthony Fauci and Dr. Deborah Birx, and also based on guidance by DSHS Commissioner Dr. Hellerstedt and White House Coronavirus Response Coordinator Dr. Birx that the spread of COVID-19 can be reduced by minimizing social gatherings; and

WHEREAS, Executive Order GA-14 superseded Executive Order GA-08 and expanded the social-distancing restrictions and other obligations for Texans that are aimed at slowing the spread of COVID-19, including by limiting social gatherings and in-person contact with people (other than those in the same household) to providing or obtaining “essential services,” and by expressly adopting the U.S. Department of Homeland Security’s March 28, 2020 Guidance on the Essential Critical Infrastructure Workforce, Version 2.0, which provides a list of critical-infrastructure sectors, workers, and functions that should continue as “essential services” during the COVID-19 response; and

WHEREAS, Executive Order GA-14 therefore restricts non-essential services during the COVID-19 disaster; and

WHEREAS, although many lives have been saved because of social-distancing restrictions like those required by Executive Order GA-14, more than 400 Texans have lost their lives because of COVID-19, and the disease still presents a serious threat across Texas that could persist in certain areas; and

WHEREAS, apart from the threats to health and safety, COVID-19 has also wrought havoc on the many Texas businesses and workers affected by social-distancing restrictions that were necessary to protect human life; and

WHEREAS, over one million unemployment claims have been filed during the COVID-19 disaster by conscientious Texans who want to get back to work as soon as it is safe to do so; and

WHEREAS, Texas must protect lives while restoring livelihoods, both of which can be achieved with the expert advice of medical professionals and business leaders; and

WHEREAS, today I am also issuing Executive Order GA-17, creating the Governor’s Strike Force to Open Texas to study and make recommendations on safely and strategically restarting and revitalizing all aspects of the Lone Star State—work, school, entertainment, and culture; and

WHEREAS, under Section 418.012, the “governor may issue executive orders … hav[ing] the force and effect of law;” and

WHEREAS, under Section 418.017(a), the “governor may use all available resources of state government and of political subdivisions that are reasonably necessary to cope with a disaster;” and

WHEREAS, under Section 418.018(c), the “governor may control ingress and egress to and from a disaster area and the movement of persons and the occupancy of premises in the area;” and

NOW, THEREFORE, I, Greg Abbott, Governor of Texas, by virtue of the power and authority vested in me by the Constitution and laws of the State of Texas, do hereby order the following on a statewide basis effective immediately, and continuing through April 30, 2020, subject to extension based on the status of COVID-19 in Texas and the recommendations of the CDC and the White House Coronavirus Task Force:

“Essential services” shall consist of everything listed by the U.S. Department of Homeland Security (DHS) in its Guidance on the Essential Critical Infrastructure Workforce, Version 2.0 or any subsequent version, plus religious services conducted in churches, congregations, and houses of worship. Other essential services may be added to this list with the approval of the Texas Division of Emergency Management (TDEM). TDEM shall maintain an online list of essential services, as specified in this executive order and any approved additions. Requests for additions should be directed to TDEM at EssentialServices@tdem.texas.gov or by visiting www.tdem.texas.gov/essentialservices .

“Reopened services” shall consist of:

Starting at 12:01 a.m. on Friday, April 24, 2020, retail services that are not “essential services,” but that may be provided through pickup, delivery by mail, or delivery to the customer’s doorstep in strict compliance with the terms required by DSHS. The DSHS requirements may be found at www.dshs.texas.gov/coronavirus .
Such additional services as may be enumerated by future executive orders or proclamations by the governor.

In providing or obtaining essential services or reopened services, people and businesses should follow the Guidelines from the President and the CDC by practicing good hygiene, environmental cleanliness, and sanitation, implementing social distancing, and working from home if possible. In particular, all such services should be provided through remote telework from home unless they cannot be provided through remote telework. Religious services should be conducted in accordance with the Guidelines for Houses of Worship During the COVID-19 Crisis, as promulgated by the attorney general and governor.

In accordance with the Guidelines from the President and the CDC, people shall avoid eating or drinking at bars, restaurants, and food courts, or visiting gyms, massage establishments, tattoo studios, piercing studios, or cosmetology salons; provided, however, that the use of drive-thru, pickup, or delivery options for food and drinks is allowed and highly encouraged throughout the limited duration of this executive order.

This executive order does not prohibit people from accessing essential or reopened services or engaging in essential daily activities, such as going to the grocery store or gas station, providing or obtaining other essential or reopened services, visiting parks, hunting or fishing, or engaging in physical activity like jogging or bicycling, so long as the necessary precautions are maintained to reduce the transmission of COVID-19 and to minimize in-person contact with people who are not in the same household.

In accordance with the Guidelines from the President and the CDC, schools shall remain temporarily closed to in-person classroom attendance by students and shall not recommence before the end of the 2019-2020 school year. Public education teachers and staff are encouraged to continue to work remotely from home if possible, but may return to schools to conduct remote video instruction, as well as perform administrative duties, under the strict terms required by the Texas Education Agency. Private schools and institutions of higher education should establish similar terms to allow teachers and staff to return to schools to conduct remote video instruction and perform administrative duties when it is not possible to do so remotely from home.

This executive order shall supersede any conflicting order issued by local officials in response to the COVID-19 disaster, but only to the extent that such a local order restricts essential services or reopened services allowed by this executive order or allows gatherings prohibited by this executive order. I hereby suspend Sections 418.1015(b) and 418.108 of the Texas Government Code, Chapter 81, Subchapter E of the Texas Health and Safety Code, and any other relevant statutes, to the extent necessary to ensure that local officials do not impose restrictions inconsistent with this executive order, provided that local officials may enforce this executive order as well as local restrictions that are consistent with this executive order.

This executive order supersedes Executive Order GA-14, but does not supersede Executive Orders GA-09, GA-10, GA-11, GA-12, GA-13, or GA-15. This executive order shall remain in effect and in full force until 11:59 p.m. on April 30, 2020, unless it is modified, amended, rescinded, or superseded by the governor.

Given under my hand this the 17th day of April, 2020.

Governor Greg Abbott

Source: Office of the Texas Governor Greg Abbott

Governor Abbott, Goldman Sachs, LiftFund Announce $50 Million in Loans For Texas Small Businesses

Mon, 13 Apr 2020 15:28:32 GMT

Governor Greg Abbott today announced that Goldman Sachs and the LiftFund, along with other community development financial institutions (CDFIs), are partnering to provide $50 million in loans to small businesses in Texas that have been affected by COVID-19 as part of the Goldman Sachs 10,000 Small Businesses program. These loans, made through the U.S. Small Business Administration’s (SBA) Paycheck Protection Program (PPP), will primarily be used for payroll so that employees can continue to receive paychecks and small businesses can retain their employees and will be partially or wholly forgiven.

"Small businesses and their employees are at the heart of the Texas economy, and they need support during these difficult times,” said Governor Abbott. “These loans will help us revitalize our economy and restore Texans’ livelihoods as we respond to COVID-19. I thank Goldman Sachs and the LiftFund for providing this lifeline to Texas small businesses and their employees by providing them with the support they need to overcome the challenges posed by COVID-19. This partnership is an important first step in our journey to economic recovery in the state of Texas."

"We have seen first-hand the determination and resilience of small business owners in Texas, having worked alongside them for years through our 10,000 Small Businesses program," said John Waldron, President and Chief Operating Officer of Goldman Sachs. "Goldman Sachs understands that our communities and economy rely on small business and we are doing everything we can to support this vital engine of economic growth and employment."

Goldman Sachs will provide the capital as part of its $550 million commitment to COVID-19 relief, and LiftFund, alongside other CDFIs, will administer the funding to qualified small businesses. If all stipulations are met, small business can have their loans forgiven in full by the SBA. Business owners can apply for a PPP loan and find more information about the program on the LiftFund website .

The Governor was joined for the announcement by President and COO of Goldman Sachs John Waldron, President and CEO of LiftFund Janie Barrera. Also joining the Governor were Brent Reaves, owner of Smokey John’s Bar-B-Que in Dallas, Patricia and Clint Butler, owners of Coffeecionado Community Roasters in San Antonio, and Michele and Mitch Allen, owners of iRun Texas in San Antonio. The Butlers and Allens will be the first to benefit from this partnership to provide PPP loans in Texas.

LiftFund is a non-profit organization, headquartered in San Antonio, that helps small business owners with limited access to capital. The company offers small business loans and minority business loans for entrepreneurs. LiftFund partners with SBA lenders and other lending institutions to provide startup loans, SBA 504 Loans, and microloans in Texas, and throughout the South Eastern U.S. In 2018, LiftFund had 591 donors, 118 investors, 500 partners, and 100 employees.

The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

Cornyn: Supporting Texas' Small Businesses Through the Coronavirus Pandemic

Mon, 06 Apr 2020 18:25:28 GMT

Senator Cornyn has been working to provide relief for Texas small businesses struggling with the economic impact of the COVID-19 pandemic. After extensive discussions with Texas small business owners, local Texas Chambers of Commerce, and numerous other Texans, Sen. Cornyn has successfully delivered multiple legislative solutions to help keep small businesses afloat and provide for their employees.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act

Became Law March 27, 2020

Sen. Cornyn’s Statement and Texas-Specific Summary

Establishes a $350 billion SBA-backed “Paycheck Protection Program” to provide eight weeks of cash-flow assistance through 100 percent federally-guaranteed loans to small businesses who maintain their payroll
The loan amount can be up to 250 percent of an employer's average monthly payroll, with a maximum loan of $10 million.
The loan can be used to cover payroll costs (salary, wages, payment of cash tips up to an annual rate of $100,000; employee group health care benefits including insurance premiums, retirement contributions, and covered leave), paid sick leave, supply chain disruptions, employee salaries, mortgage payments, and other debt obligations to provide immediate access to capital for small businesses who have been impacted by COVID-19.
If employers maintain their payroll, certain portions of the loans can be forgiven, including payroll, interest on mortgage obligations, rent, and utility payments.
Loans will be available through more than 135 existing SBA-certified lenders in Texas, including banks, credit unions, and other financial institutions.
The maximum loan amount for SBA Express loans is increased from $350,000 to $1 million, providing borrowers with revolving lines of credit for working capital purposes.
Note: Any small business awarded this type of SBA loan cannot receive the retention credit or a deferral on their payroll taxes.
Includes $265 million for counseling, training, and related assistance to small businesses affected by COVID-19 through grants to SBA resource partners, including Small Business Development Centers and Women's Business Centers, and includes $10 million for the Minority Business Development Agency to provide these services through Minority Business Centers and Minority Chambers of Commerce
Expedites access to $10 billion in capital by allowing small businesses who have applied for an Economic Injury Disaster Loans (EIDL) loan to request an emergency advance of up to $10,000 within three days to provide paid sick leave to employees, maintaining payroll, and other debt obligations
It also allows business with EIDL loans from previous disasters (floods, hurricanes, wildfires, etc.) to apply for paycheck protection program loans and provides a refinancing mechanism for easy repayment.
Offers loan forgiveness by requiring SBA to pay all principal, interest and fees on all new and existing SBA loan products including 7(a), Community Advantage, 504, and Microloan programs for six months
Allows loan forgiveness for additional wages paid to tipped workers
Expands small business benefits to sole-proprietors, independent contractors, self-employed individuals, and businesses with more than one physical location of less than 500 employees each in certain industries
Allows and encourages the Dept. of the Treasury to approve additional lenders for SBA loans, in addition to the 135 already approved in Texas
Allows employers and self-employed to defer payment of the employer share of the Social Security tax with half the amount required to be paid by December 31, 2021 and the other half by December 31, 2022 if they choose not to use the Paycheck Protection Program
Fixes the tax code to allow Qualified Improvement Property (QIP) eligibility for 100 percent bonus depreciation to allow small businesses to reasonably deduct major spending for improvements made to existing property
It relaxes the taxable income limitation on a company’s use of losses and suspends the excess business loss limitation applicable to non-corporate taxpayers for taxable years 2018, 2019, and 2020. Significantly, taxpayers can carryback losses created in 2018-2020 back five years. [Therefore, some businesses could be provided a 21 percent rate on taxable income and carryback losses into a higher taxable year at 35 percent.]
It also accelerates the ability for companies to recover refundable AMT credits.
Modifies the limitations on net operating losses (NOL) to allow small businesses to utilize losses for cash flow and liquidity
Temporarily increases the amount of business interest expense businesses may deduct on their tax returns from 30 percent to 50 percent of taxable income for 2019 and 2020. Special rules apply for partnerships
This provision sunsets after one year, when the eligibility threshold will return to $2,725,625.
Offers a temporary Refundable Employer Retention Credit for businesses who choose not to use the Paycheck Protection Program and continue to pay their employees despite suffering a reduction of at least 50 percent in gross receipts or being forced to shut down because of government orders. Special rules apply depending on the business’ size.
Provides bankruptcy relief for small businesses by raising the maximum debt threshold for eligibility to $7.5 million and excluding coronavirus-related payments from the federal government from income for purposes of filing bankruptcy

The Families First Coronavirus Response Act

Became Law March 18, 2020

Texas-Specific Summary

Provides refundable payroll tax credits for small businesses to help employers with the additional costs imposed by the new Emergency Paid Leave Act and the Family and Medical Leave Act (FMLA) expansion through the end of 2020
The sick leave credit would cover up to $511 per day per employee receiving paid sick leave to care for themselves with a coronavirus-related illness, or $200 per employee per day if the sick leave is to care for a family member with a coronavirus-related illness, including their child if school is closed. This translates to payroll tax credits of up to $132,000 for sick leave.
The family leave credit would cover up to $200 per day, or an aggregate of $10,000. This translates to payroll tax credits of up to $78,000 for FMLA.
Both tax credits are applied against the self-employment tax, covering 100 percent of the self-employed individual’s sick leave or 67 percent of family leave.
Small businesses with less than 500 employees can be exempt by the Secretary of Labor from the paid family leave provisions if complying would put them out of business.

The Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020

Became Law March 6, 2020

Sen. Cornyn’s Statement

Makes $1 billion in disaster loan subsidies available for small businesses, small agricultural cooperatives, small aquaculture producers, and non-profit organizations impacted by financial losses as a result of the coronavirus outbreak
This funding could enable SBA to provide an estimated $7 billion in loans, and also appropriates $20 million to administer these loans.

The Three Step Process: Disaster Loans

Fri, 20 Mar 2020 20:46:01 GMT

Texas has been approved for Disaster Loans

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.

Step 1: Apply for Loan

Apply:

online; in-person at a disaster center; or by mail.
Apply online at the SBA’s secure website disasterloan.sba.gov/ela .

Click here to see what you could borrow

Step 2: Property Verified and Loan Processing Decision Made

SBA reviews your credit before conducting an inspection to verify your losses.
An SBA verifier will estimate the total physical loss to your disaster damaged property.
A loan officer will determine your eligibility during processing, after reviewing any insurance or other recoveries. SBA can make a loan while your insurance recovery is pending.
A loan officer works with you to provide all the necessary information needed to reach a loan determination. Our goal is to arrive at a decision on your application within 2 - 3 weeks.
A loan officer will contact you to discuss the loan recommendation and your next steps.
You will also be advised in writing of all loan decisions.

Step 3: Loan Closed and Funds Disbursed

SBA will prepare and send your Loan Closing Documents to you for your signature.
Once we receive your signed Loan Closing Documents, an initial disbursement will be made to you within 5 days:
Physical damage:

$25,000

Economic injury (working capital):

$25,000 (In addition to the Physical damage disbursement)

For more detailed information and a full list of required documentation visit disasterloan.sba.gov .

SBA Disaster Assistance in Response to the Coronavirus

Thu, 19 Mar 2020 16:52:37 GMT

The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). Upon a request received from a state’s or territory’s Governor, SBA will issue under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President, an Economic Injury Disaster Loan declaration.
Any such Economic Injury Disaster Loan assistance declaration issued by the SBA makes loans available to small businesses and private, non-profit organizations in designated areas of a state or territory to help alleviate economic injury caused by the Coronavirus (COVID-19).
SBA’s Office of Disaster Assistance will coordinate with the state’s or territory’s Governor to submit the request for Economic Injury Disaster Loan assistance.
Once a declaration is made for designated areas within a state, the information on the application process for Economic Injury Disaster Loan assistance will be made available to all affected communities as well as updated on our website: SBA.gov/disaster .
SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance per small business and can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses without credit available elsewhere; businesses with credit available elsewhere are not eligible. The interest rate for non-profits is 2.75%.
SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.
SBA’s Economic Injury Disaster Loans are just one piece of the expanded focus of the federal government’s coordinated response, and the SBA is strongly committed to providing the most effective and customer-focused response possible.
For additional information, please contact the SBA disaster assistance customer service center. Call 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail disastercustomerservice@sba.gov.
Visit SBA.gov/ disaster for more information

Looking Out for American Businesses Amid COVID-19

Fri, 13 Mar 2020 13:24:21 GMT

The President is announcing an economic assistance package to help support businesses and workers who have been harmed by this outbreak.

President Trump has instructed the Small Business Administration (SBA) to exercise available authority to provide loans to businesses affected by the Coronavirus.

“I am instructing the Small Business Administration to exercise available authority to provide capital and liquidity to firms affected by the Coronavirus,” President Trump said. “Effective immediately, the SBA will begin providing economic loans in affected states and territories. These low-interest loans will help small businesses overcome temporary economic disruptions caused by the virus.”

The President is calling on Congress to increase funding for this program by an additional $50 billion. For more information visit the Coleman Report .

SBA Announces Funding Competition to Organizations Providing Training to Women Veteran Entrepreneurs

Thu, 20 Feb 2020 21:07:04 GMT

The U.S. Small Business Administration today announced that nonprofit organizations, state and local agencies, and institutions of higher learning are eligible to compete for funding of up to $300,000 to deliver entrepreneurship training to women service members, women veterans and women military spouses.

Up to six awardees will receive a total of $300,000 in grants administered by SBA’s Office of Veterans Business Development to participate in the Women Veteran Entrepreneurship Training Program. The funds will be used to cover the costs of educating women service members and veterans, as well as women military spouses who are interested in starting or currently own a small business.

“Women veteran entrepreneurs have contributed in a major way to the growth of the U.S. economy, bringing in $10 billion in receipts over a five-year period,” said Larry Stubblefield, Associate Administrator for SBA’s Office of Veterans Business Development. “The SBA is committed to supporting women veterans with the training and resources they need to start, grow or expand a small business.”

Eligible organizations should submit applications for the Women Veteran Entrepreneurship Training Program funding opportunity (WVETP-2020-01) through Grants.gov. Applications not submitted via Grants.gov will not be evaluated. The submission deadline is Thursday, March 19 at 11:59 p.m. EDT.

The SBA will host a conference call on Wednesday, February 26 at 2 p.m. EST to answer questions related to the Women Veteran Entrepreneurship Training Program grant announcement.

• Submit questions to Jerry Godwin at jerry.godwin@sba.gov no later than 4 p.m. EST on Monday, February 24.

• Call in at (202) 765-1264; Conference ID: 13482739.

Source: www.sba.gov/news

Texas Named As Business Facilities Magazine 2019 State Of The Year

Thu, 06 Feb 2020 16:48:48 GMT

For the fourth time, Texas has been named Businesses Facilities Magazine “State of the Year," which is bestowed upon the best state for capital investment and job creation. From investments by Uber and Apple to major LNG projects, billions of dollars were infused into the Texas economy in 2019, creating hundreds of thousands of jobs. Texas previously won the award in 2007, 2012 and 2016. Governor Greg Abbott released the following statement after the Lone Star State’s record-setting achievement:

“Thanks to our unrivaled workforce and our commitment to economic freedom, Texas continues to shine as America’s center for job creation, innovation, and economic development. I thank Business Facilities for this incredible honor, which is a testament to the hard work and dedication of Texans throughout the state, including our local economic development teams. The Texas success story is just beginning. Together, we will continue to cultivate an environment of economic growth and opportunity that creates a brighter future for every Texan.”

Business Facilities is a national publication that has been the leading location source for corporate site selectors and economic development professionals for more than 50 years.

*Blog courtesy of the Office of the Texas Governor

2020 Milestones for Small Business

Fri, 24 Jan 2020 16:48:45 GMT

2020 Brings Important Milestones For Small Business

Now that the new year and a new decade is here, there is much to celebrate. Not only is it a chance for a fresh start and a new outlook, this is an opportunity to look back and remember the past to see how far we have come. The same can be said for the regulatory environment for small businesses. 2020 rang in a number of anniversaries that are significant for small business with regard to regulations. Let’s take a moment to see the progress that has been made and mark the significant milestones.

President Trump signed two executive orders in 2017 that are now three years old. E.O. 13771 told agencies to find two regulations to get rid of before they could issue a new one. E.O. 13777 created a task force in every federal regulatory agency to help with the decision making as they review, revise and reform their rules. Although these mandates are now three years old, the regulatory reform effort continues, providing small businesses with needed relief from federal regulations. (For more information on Advocacy’s regulatory reform efforts, visit: https://advocacy.sba.gov/regulatory-reform/.)

This year is also the 18th anniversary of E.O. 13272, signed by President Bush in 2002. This executive order requires federal agencies to measure the impact of their proposed rules on small entities and to vet those decisions with the Office of Advocacy (Advocacy). It also requires Advocacy to provide training to all agencies on how to comply with the Regulatory Flexibility Act (RFA), among other requirements.

So what is the RFA? The RFA is a very important law for small business that was passed in 1980 and is now celebrating it’s 40th year. The key requirement of the law is that federal agencies must analyze the impact of their regulatory actions on small entities and, where the impact is likely to be “significant”, affecting a “substantial number” of these small entities, agencies must seek less burdensome alternatives for them. The RFA has been strengthened over the years and one important amendment was in 1996 when SBREFA was passed; the Small Business Regulatory Enforcement Fairness Act. 2020 celebrates 24 years of its passage. This law gave courts the ability to review agency compliance with the RFA and mandated that certain agencies convene panels to consult with small entities on regulations expected to have a significant impact on them, before the rules are proposed.

This year Advocacy also celebrates the 44th year of its creation in 1976. Advocacy represents the views of small business before Congress, the White House, federal agencies, federal courts, and policy makers. By representing the views of small entities in federal rulemaking , conducting economic research on small businesses issues and trends, and gathering information from small entities nationwide, Advocacy has become the voice of small business. Since the creation of this important office, Advocacy has calculated small business regulatory cost savings in the billions.

The new SBA504 Effective Rates are in!

Tue, 14 Jan 2020 15:31:18 GMT

January 2020 Rates

25-YEAR - 3.7%

20-YEAR - 3.6%

10-YEAR - 3.8%

The East Texas Regional Development Company is dedicated to helping Small Businesses in Texas make their dreams into reality. The East Texas Regional Development Company or ETRDC is a private, non-profit, organization formed for the purpose of assisting small businesses. The ETRDC has helped many Texas business owners achieve long term financing for all of their business needs.

The ETRDC provides small businesses with access to capital for the purchase or construction of commercial real estate (including remodeling and expansion), equipment, inventory, start up costs, and more.

Find out more about the SBA 504 Program →

December Rates for SBA504 Loans

Tue, 10 Dec 2019 15:45:30 GMT

The December rates for SBA 504 loans continues to remain near historic lows. Now is a great time for your start-up or existing business to finance, or refinance your fixed assets to lock in a low fixed rate.

New Project Approved - $10.4M Acquisition & Construction Loan

Tue, 03 Dec 2019 15:38:22 GMT

Another project approved through the U.S. Small Business Administration enhancing economic development in Texas! We're proud to move forward with an SBA504 Loan for acquisition and construction for a large scale hospitality project in Kaufman County. The total project cost will be $10.4M.

Are you looking to purchase, construct or remodel? The ETRDC can help!

Small Business Saturday

Mon, 25 Nov 2019 15:49:56 GMT

November 30, 2019

Saturday, November 30, 2019 is Small Business Saturday – a day to celebrate and support small businesses and all they do for their communities. Please join the SBA and organizations across the country in supporting your local small business by shopping at a small business.

Founded by American Express in 2010 and officially cosponsored by SBA since 2015, Small Business Saturday has become an important part of how many small businesses launch their busiest shopping season. According to the 2018 Small Business Saturday Consumer Insights Survey, total reported spending among U.S. consumers who said they shopped at independent retailers and restaurants on the day reached a record high of an estimated $17.8 billion. The same survey reported that more than 70% of consumers are now aware of the Small Business Saturday initiative. Based on this annual survey over the years, Small Business Saturday spending has now reached a reported estimate of $103 billion since the day began in 2010.

The highly successful team of SBA, Women Impacting Public Policy (WIPP), and American Express will be kicking off the 2019 holiday season by driving traffic and revenue to our nation’s 30 million independent businesses with Small Business Saturday events.

ETRDC News & Announcements

ETCOG Hires Kimbrough to Manage Business Lending Programs

ETRDC Partners with Local SBDC and SBA to Host Lenders Roundtable in Longview

Grant Opportunity for Texas businesses in the Tourism, Travel, and Hospitality Industry

Texas Travel Industry Recovery Grant Program

SBA Announces Updated Guidance Regarding Applicant Deadlines for COVID Economic Injury Disaster Loan Program

Applications Due by December 31

How to Apply

Application Process and Fraud Control Enhancements

About Economic Injury Disaster Loans

Small Business Loan Program Funds Two Projects

ETRDC funded two projects that will help spur economic development in Texas!

SBA 504 Program Approaches Lending Cap - Expected By September 5

What does this mean to the small business applicant, the CDC, and lending partners?

Deadline Approaching for SBA Disaster Loans for Property Damage Due to Severe Storms and Tornadoes

Planning for Emergencies

Step 1: Assess Your Risk

﻿ Step 2: Create a Plan

Step 3: Execute Your Plan

Do you need help after a disaster? See how the SBA can help underserved small businesses recover from the economic impacts of pandemic and other disasters.

﻿ Get Financial Assistance After a Disaster

Businesses Eligible to Apply for Restaurant Revitalization Fund

SBA to Increase Lending Limit for COVID-19 Economic Injury Disaster Loans

Shuddered Venues Grant Opportunity

SBA Economic Aid: Temporary 504 Loan Program Change - Refinancing of Third-Party Loans

Disaster Assistance Available for Small Businesses Following Winter Storm

SBA Stands Ready to Assist Texas Businesses and Residents Affected by the Severe Winter Storms

Cybersecurity Practices Every Small Businesses Should Do

BBB Scam Alert: COVID-19 Relief Scams Target Small Business Owners

SBA and Treasury Announce PPP Re-Opening; Issue New Guidance

SBA Extends COVID-19 Economic Injury Disaster Loan Application Deadline Through Dec. 31, 2021

Refinance Loans with an SBA 504 Debt Refi

SBA Announces New Reduced 504 Loan Debenture Rates

National Veterans Small Business Week to Kick-off Nov. 2

National Small Business Week to Kick-off Sept. 22-24

SBA Hosts Virtual Event to Honor America's Small Businesses

Webinar on Basics of PPP Loan Forgiveness

SBA’s Economic Injury Disaster Loans and Advance Program Reopened to All Eligible Small Businesses and Non-Profits Impacted by COVID-19 Pandemic

Governor Abbott Announces Phase Two To Open Texas

COVID-19 by the Numbers in Texas

Governor Abbott Issues Executive Order To Expand Openings Of Certain Businesses and Activities

Smith, Gregg Counties Lead Large Texas MSAs In Healthcare System Capacity Per Capita

Governor Abbott Announces Phase One To Open Texas, Establishes Statewide Minimum Standard Health Protocols

Creates Statewide Contact Tracing Program Issues Special Guidance For Texans Over 65, Nursing Homes

Governor Abbott Issues Executive Order To Safely And Strategically Reopen Select Services And Activities In Texas

Governor Abbott, Goldman Sachs, LiftFund Announce $50 Million in Loans For Texas Small Businesses

Cornyn: Supporting Texas' Small Businesses Through the Coronavirus Pandemic

The Three Step Process: Disaster Loans

Texas has been approved for Disaster Loans

SBA Disaster Assistance in Response to the Coronavirus

Looking Out for American Businesses Amid COVID-19

The President is announcing an economic assistance package to help support businesses and workers who have been harmed by this outbreak.

SBA Announces Funding Competition to Organizations Providing Training to Women Veteran Entrepreneurs

Texas Named As Business Facilities Magazine 2019 State Of The Year

2020 Milestones for Small Business

2020 Brings Important Milestones For Small Business

The new SBA504 Effective Rates are in!

January 2020 Rates

December Rates for SBA504 Loans

New Project Approved - $10.4M Acquisition & Construction Loan

Small Business Saturday

November 30, 2019

Step 2: Create a Plan

Get Financial Assistance After a Disaster

Creates Statewide Contact Tracing Program

Issues Special Guidance For Texans Over 65, Nursing Homes