Small Business Administration - SBA Resources - Houston Texas

The following resources below was from our old website

SBA LOAN FAQ

FAQ SBA LINK

I am applying for / received an Economic Injury Disaster Loan, is my small business eligible to participate in the Paycheck Protection Program?

Apply for both: Borrowers are able to apply for both an SBA Economic Injury Disaster Loan and the Paycheck Protection Program loan. However, the uses of the Paycheck Protection Program loan funds must be used for payroll (minimum of 75% of the funds received) in order for it to be eligible for a forgivable loan and the remaining is used for different purposes. Borrowers who accept both loan funds should document the uses of the funds appropriately.

Received EIDL - Apply for PPP: Yes, you are still eligible to apply for the Paycheck Protection Program even if you applied for or received an SBA Economic Injury Disaster Loan. If your Economic Injury Disaster Loan was not used for payroll costs, it does not affect your eligibility for a Paycheck Protection Program loan. If your Economic Injury Disaster Loan was used for payroll costs, your Paycheck Protection Program loan must be used to refinance your Economic Injury Disaster Loan. The Paycheck Protection Program's maximum loan amount is $10 million with a fixed 1% interest rate and maturity of two years. Economic Injury Disaster Loan assistance provides up to $2 million loan per business and are long-term, low-interest rate at 3.75% for businesses and 2.75% for non-profits. Proceeds from any advance up to $10,000 on the Economic Injury Disaster Loan will be deducted from the loan forgiveness amount on the Paycheck Protection Program loan.

For example, a borrower may obtain a loan from the Paycheck Protection Program and use those funds to pay for 8 weeks of payroll or employee retention. They may wish to then dedicate their entire EIDL funds towards working capital, notes payable and accounts payable that do not duplicate the funds provided through the Paycheck Protection Program.

What if I have a small staff on payroll/part-time workers?

EIDL and the EIDL Advance may work for those who have a smaller payroll and operating expenses.

Do I have to choose one or the other?

Select the loan program that best meets your individual business needs; however, you are not permitted to hold funds from both programs for duplicate purposes. The application period for PPP runs through June 30, 2020, but the EIDL application period runs through December 2020. If you have working capital need beyond what is provided by PPP, you can apply for additional assistance through the EIDL program.

If you are applying for both, you can accept PPP first - then decide whether or not to close on your EIDL approved loan. An EIDL approved loan may be closed within 60 days, and the borrower can choose whether or not to close on the loan. The application period runs through Dec. 2020.

SBA - Coronavirus (COVID-19): Small Business Guidance & Loan Resources
https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources#section-header-6

Simplified COVID-19 Disaster Loan App - Just 2 forms, 2 steps!
Complete two forms (only 3 pages) & upload! See the graphic below, and join any of the several daily SBA Houston webinars to learn more. Get email updates with webinar links included at
www.sba.gov/tx/houston

Texas small business can now apply for SBA Economic Injury Disaster Loans (EIDL) to help with the COVID-19 crisis.
What's an EIDL?
  • The SBA EIDL program can provide low-interest loans of up to $2M to businesses and private non-profits.
  • EIDLs may be used to pay fixed debts, payroll, accounts payable and other bills.
  • The interest rate is 3.75% for small businesses without credit available elsewhere. The interest rate for non-profits is 2.75%.
  • EIDLs have long-term repayment options, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based on borrower's ability to repay.
How do I apply?

Download the Presentation Slides

SBA - SBA Disaster Assistance in Response to the Coronavirus - PDF

Daily Webinars | March 30th-April 3rd

The SBA Houston District Office will provide the latest information from SBA to help small businesses with their economic recovery from the effects of the Coronavirus. We will give information on how to apply and where you can get additional help with preparing and applying for an SBA Economic Injury Disaster Loan. Sessions will allow for chat Q&A.

The information presented on all calls will be the same- join at the date and time best for you.

Spanish webinars will be offered under separate announcement.

*CLICK ON LINKS BELOW OR CUT & PASTE INTO BROWSER


8:30am CST

Join Zoom Meeting

https://score.zoom.us/j/394322660

Meeting ID: 394 322 660

Join mobile +1 346 248 7799 US (Houston)


10:30am CST

Join Zoom Meeting

https://score.zoom.us/j/847743171

Meeting ID: 847 743 171

Join mobile +1 346 248 7799 US (Houston)


1:30pm CST

Join Zoom Meeting

https://score.zoom.us/j/594295768

Meeting ID: 594 295 768

Join mobile +1 346 248 7799 US (Houston)


3:00pm CST

Join Zoom Meeting

https://score.zoom.us/j/109522548

Meeting ID: 109 522 548

Join mobile +1 346 248 7799 US (Houston)


SBA Resource in Chinese (Mandarin)

Announced by The White House Initiative on Asian Americans and Pacific Islanders

For those who are Mandarin Chinese speaking, the US Small Business Administration (SBA)'s New York District Office is hosting a number of webinars on Federal assistance. The next one is April 1st and will continue every Wednesday at 1pm (ET). There are also webinars in English. Please see schedule of webinars below and RSVP directly.

Ms. Man-Li K. Lin, SBA's NY District Office's Economic Development Specialist, would also like to offer her services to organizations that want to schedule SBA webinars for their own members. Please email her directly at man-li.lin@sba.gov - she would be happy to take the opportunity to be helpful to businesses that need assistance accessing SBA related federal resources in Mandarin Chinese.

中文

4/1 1pm-2pm

Chinese

https://zoom.us/meeting/register/upQsceGqpz0j0h-eGY18Gnhbv0y_N5nMTA

4/2 10am-11am

English

https://zoom.us/meeting/register/uZAvcOyrqTIukKbn-BozMdTZWSluxejKzw

4/2 11am-12pm

English

https://zoom.us/meeting/register/tZUodumuqz0oE9g-5x9QkRjFw4qzxP_4xQ

中文

4/2 1pm-2pm

Chinese

https://zoom.us/meeting/register/uZYtf-isrTIqTTgPpAQl4RdIygPGmoiBzA

4/2 3pm-4pm

English

https://zoom.us/meeting/register/uZAucuCorzgoS6sKWRY_PSBsXzRbqpmTvA

4/3 2pm-3pm

English

https://zoom.us/meeting/register/uJUodeitrDstCNT7Atef9gjnm60XSNbJGA

4/6 1pm-3pm

English

4/7 12pm-1pm

English

https://zoom.us/meeting/register/v5AvcuiurTktO2V54ouf_Puqq9dw67MuNg

中文

4/8 1pm-2pm

Chinese

https://zoom.us/meeting/register/upQsceGqpz0j0h-eGY18Gnhbv0y_N5nMTA

4/14 12pm-1pm

English

https://zoom.us/meeting/register/v5AvcuiurTktO2V54ouf_Puqq9dw67MuNg

Financing

4/15 9:30am-11:30am

your business

https://zoom.us/meeting/register/tZYrcOqgrzoi3MLcsehV1gr9gdmzm1mDXQ

中文

4/15 1pm-2pm

Chinese

https://zoom.us/meeting/register/upQsceGqpz0j0h-eGY18Gnhbv0y_N5nMTA

Opportunity

4/16 9:30am-11:30am

Zone 101

https://zoom.us/meeting/register/tJAqdeuorDspTbZ0ioqmwAwGf_TJYQCKPg

中文

4/22 1pm-2pm

Chinese

https://zoom.us/meeting/register/upQsceGqpz0j0h-eGY18Gnhbv0y_N5nMTA

中文

4/29 1pm-2pm

Chinese

https://zoom.us/meeting/register/upQsceGqpz0j0h-eGY18Gnhbv0y_N5nMTA

中文

5/6 1pm-2pm

Chinese

https://zoom.us/meeting/register/upQsceGqpz0j0h-eGY18Gnhbv0y_N5nMTA

中文

5/13 1pm-2pm

Chinese

https://zoom.us/meeting/register/upQsceGqpz0j0h-eGY18Gnhbv0y_N5nMTA

中文

5/20 1pm-2pm

Chinese

https://zoom.us/meeting/register/upQsceGqpz0j0h-eGY18Gnhbv0y_N5nMTA

中文

5/27 1pm-2pm

Chinese

https://zoom.us/meeting/register/upQsceGqpz0j0h-eGY18Gnhbv0y_N5nMTA

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