Update Regarding SBA’s Economic Injury Disaster Loans in Response to COVID-19 for Texas Small Busine

By: The Strong Firm P.C. | Published 03/24/2020

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As discussed last week in our article entitled “SBA’s Economic Injury Disaster Loans in Response to COVID-19,” on March 17, 2020 Texas Governor, Greg Abbot, requested an Economic Injury Disaster Declaration from the U.S. Small Business Administration (“SBA”) which would allow Texas businesses to access the SBA’s Economic Injury Disaster Loans (“EIDLs”).  EIDLs are aimed at assisting small businesses who are suffering substantial economic injury as a result of the Coronavirus (COVID-19) in the form of long-term, low-interest loans to qualifying businesses across the country.  Governor Abbott recently declared his Economic Injury Disaster Declaration request was granted by the SBA, thereby, permitting all eligible Texas small businesses to apply for the SBA’s EIDL program.  Governor Abbot announced...(Click here to continue reading!)

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