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Blog Post
Looking Out for American Businesses Amid COVID-19
The Coleman Report • Mar 13, 2020
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.
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.
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.
Applications Due by December 31
Administered by ETCOG