Coronavirus Emergency Loans Links

Author: 
EDC Staff

 

Below are some very helpful pages put out by the U.S. Chamber of Commerce regarding emergency loans, etc.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program (PPP), the initiative provides 100% federally guaranteed loans to small businesses.  https://www.uschamber.com/sites/default/files/023595_comm_corona_virus_smallbiz_loan_final.pdf

The Coronavirus Aid, Relief, and Economic Security (CARES) Act created a new employee retention tax credit for employers who are closed, partially closed, or experiencing significant revenue losses as a result of COVID-19. https://www.uschamber.com/report/guide-the-employee-retention-tax-credit

The Coronavirus Aid, Relief, and Economic Security (CARES) Act expands the Small Business Administration’s long-standing Economic Injury Disaster Loan Program (EIDL). The EIDL program was created to assist businesses, renters, and homeowners located in regions affected by declared disasters. https://www.uschamber.com/report/guide-sbas-economic-injury-disaster-loans

 

Gov. Abbott means BUSINESS and so does South Padre Island EDC! Find Out More