The Small Business Administration (SBA) has designated COVID-19 as a qualifying event for the provision of Economic Injury Disaster Loans (EIDL) for businesses and private non-profits in affected communities. Texas is currently working with SBA to qualify for this declaration.
Small businesses, small agricultural cooperatives and some private nonprofit organizations that have suffered substantial economic injury due to COVID-19 may be eligible for an EIDL of up to $2 million, which will provide the necessary working capital to help businesses survive until normal operations resume after a disaster. EIDL assistance will only be available to small businesses when the SBA determines they are unable to obtain credit elsewhere.
Click here for more information: https://tdem.texas.gov/covid-19/