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Resources for Businesses COVID-19 relief
The U.S. Small Business Administration (SBA) offers a list of corona virus relief options.
PAYCHECK PROTECTION PROGRAM
The Paycheck Protection Program provides $349 billion in forgivable loans to help small businesses stay afloat during the COVID-19 crisis. You have to check with your local bank or credit union for this loan most banks have a link and make it possible to apply online once login from the business bank account. Funds are expected to run out fast as soon as 10-15 days so businesses have to apply as soon as possible. If your local bank turns you away because they are overwhelmed with applications you can also apply with Quickbooks or other banks.
What Businesses Qualify?
Small businesses and nonprofits with 500 or fewer employees can apply for loans through the Paycheck Protection Program—that includes sole proprietors and independent contractors. Small businesses in the hotel and food service industries, and that are franchises according to the SBA’s guidelines, may qualify if they have no more than 500 employees. One loan will be granted per business, and a taxpayer identification number is required to apply.
SBA LOAN AND EMERGENCY GRANT
Emergency grant of $10,000 to SBA Economic Injury Disaster Loan applicants: Even if your business is denied a loan, you can still access this grant, which can be used to provide employee sick leave, maintain payroll or meet other needs like paying rent for your business. https://www.sba.gov/funding-programs/loans/coronavirus-relief-options
HARRIS COUNTY COVID-19 FORGIVABLE LOAN PROGRAM Harris County has partnered with the Houston-Galveston Area Council to develop and administer an economic development loan program in response to the COVID-19 pandemic. The program aims to help businesses impacted by the pandemic by offering zero-interest, forgivable loans to meet ordinary and necessary operating expenses and obligations. Businesses will be able to use the funds to cover working capital costs, such as payroll, accounts payable, rent, mortgage and other necessary expenses. www.Harriscountyloan.com
MOODY FOUNDATION GRANTS https://moodyf.org/moody-foundation-grants/
BUSINESS RECOVERY LOANS Moody Bank