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COVID 19- Important Updates

USDA Funding update 4/8/2020

 
$349 Billion available through Paycheck Protection Program
 
On March 31, the Treasury Department released initial information for lenders and small businesses for the Paycheck Protection Program – the program that provides $349 billion in loans for small businesses, the self-employed, and independent contractors. These loans can be converted into grants based on an employer’s expenses.
 
Small business can begin applying for these loans this Friday, and the application is now available online. To learn more visit the Treasury Department website.
(The above was taken from a message by U.S. Chamber Chief Policy Officer Neil Bradley)
 
National Small Business Town Hall 
presented by Inc. and the U.S. Chamber of Commerce
 
Find out what the federal government's coronavirus stimulus programs mean to your small business in this presentation from Inc. in partnership with the U.S. Chamber of Commerce.
 
Here are seven important takeaways from these business leaders regarding the CARES Act and how businesses should adapt to these trying times.
 
  • The new Paycheck Protection Program can help small businesses immediately
  • The Paycheck Protection Program will be available to most types of small business
  • Economic Injury Disaster Loans (EIDLs) are easier to obtain and offer cash advances
  • What businesses should know before applying for an SBA loan
  • Keep track of state laws when changing employee pay and leave
  • This is the time to prioritize employee retention
  • Businesses need to provide value now to retain customers
National Small Business Town Hall Presented by Inc. and U.S. Chamber of Commerce
 
 
Coronavirus COVID-19 Business Resource Guide
 
A recording of the
Nacogdoches Community Stakeholders Conference Call
held on March 31 is available now
 
 

 

 

 

Employer and Workforce-COVID-19    

 

 

Texsa Department of Agriculture  COVID-19 Resource Guide      

 

 

SBA Disaster Assistance in Response to the Coronavirus •
 
The U.S. Small Business Administration is offering designated states and territories lowinterest 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 statewide to small businesses and private, non-profit organizations 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, the information on the application process for Economic Injury Disaster Loan assistance will be made available to affected small businesses within the state. • SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance 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. 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 visit SBA.gov/disaster. • For questions, please contact the SBA disaster assistance customer service center at 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail disastercustomerservice@sba.gov

The link to the form is below:

https://tdem.texas.gov/covid-19/

 

 

Nacogdoches Chamber of Commerce- Conference Call Recording

Regionalism & COVID-19  https://transcripts.gotomeeting.com/?utm_source=recordingReadyNotification&utm_medium=email&fbclid=IwAR2niMMpVuGV3XA6q0CF39FtYPXRBZ-tW_lGNi80L-y_5HbuFKzWgrifQbk#/s/ff64cffc807e9dcda07a2029a35b05614ebba9f1ee2032957ab15a0323490886