Small Business Virtual Town Hall with Rep. Rhetta Andrews Bowers
Last week, I was happy to host a town hall featuring community business leaders from HD-113:
Paul Mayer, CEO-Garland Chamber of Commerce
Alvester Gibson, CEO-Balch Springs Chamber of Commerce
Michael Gallops, CEO-Rowlett Chamber of Commerce
Harrison Blair, President-Black Chamber of Commerce
Terrance Sauls, Business Development Officer-First United Bank
Our discussion centered on applying for SBA Coronavirus Relief loans including the Paycheck Protection Program. We also discussed some of the other challenges that small businesses are facing during this unprecedented time in our society.
You can see a recording of the town hall via my Facebook Page, State Representative Rhetta Andrews Bowers. If you have any questions or inquiries, please email our office at firstname.lastname@example.org.
$50 Million in Loans For Texas Small Businesses
Governor Abbott has announced that Goldman Sachs and the LiftFund, along with other community development financial institutions (CDFIs), are partnering to provide $50 million in loans to small businesses in Texas that have been affected by COVID-19 as part of the Goldman Sachs 10,000 Small Businesses program. The loans, made through the U.S. Small Business Administration’s (SBA) Paycheck Protection Program (PPP), will primarily be used for payroll so that employees can continue to receive paychecks and small businesses can retain their employees and will be partially or wholly forgiven.
Business owners can apply for a PPP loan and find more information about the program on the LiftFund website. Qualified businesses will receive funding, and if all stipulations are met, may be eligible to have their loans forgiven in full by the SBA.
Coronavirus (COVID-19) Update
The effects of sheltering in place and social distancing.have shown some success at reducing the rate of infection in a several “hot spot” cities. As both our federal government and state officials across the nation contemplate scenarios for reopening of businesses and relaxing social distancing restrictions, infections and deaths continue to rise. As of this writing, the numbers of coronavirus infection are*: