On March 17, 2020, Governor Greg Abbott requested the Economic Injury Disaster Declaration for all Texas counties though the U.S. Small Business Administration (SBA). The SBA has now announced that any Economic Injury Disaster Loan (EIDL) assistance declaration issued by the SBA will make loans available statewide to small businesses and private, non-profit organizations to help alleviate economic injury caused by the Coronavirus (COVID-19). It is expected that the SBA will have a declaration decision within the next few days with the ability to accept loan applications shortly after. Please continue to check our website here for updates on the status of the SBA's disaster declaration.
Important information for affected businesses: If a declaration is granted, all small businesses who believe they may be eligible for an SBA EIDL should visit the Texas Division of Emergency Management (TDEM) website at https://tdem.texas.gov. They will be directed to the SBA website where they can apply for assistance once the disaster declaration is granted. It is expected that the declaration will be granted and applications available by Friday, March 20, 2020. According to the SBA, applicants can expect a turnaround time for a disaster loan decision to be three weeks, assuming their application is complete.
The Governor's letter to the SBA is shown below.
