RESOURCES FOR SMALL BUSINESSES
We understand that all businesses will feel the effect of the Coronavirus in some way, but small businesses are likely to have unique challenges. If you are a small business owner looking for information and resources, please visit:
The U.S. Small Business Administration offers tips and resources specifically targeted to small business owners, with information on the Economic Injury Disaster Loan Program, SBA products and resources, and more.
The programs and initiatives in the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was just passed by Congress are intended to assist business owners with whatever needs they have right now.
As of April 1, The Families First Coronavirus Response Act (FFCRA or Act) requires employers of 500 employees or fewer to provide their employees with 10 days of paid sick leave and 10 weeks of expanded family and medical leave for specified reasons related to COVID-19.
For more information, click here.
On March 27, 2020, President Trump signed into law the CARES Act, which provided additional assistance for small business owners and non-profits, including the opportunity to get up to a $10,000 Advance on an Economic Injury Disaster Loan (EIDL).
Senator Cornyn has been working to provide relief for Texas small businesses struggling with the economic impact of the COVID-19 pandemic.
More guidance to provide information to employees and employers about how each will be able to take advantage of the protections and relief offered by the Families First Coronavirus Response Act.
The release describes how U.S. Department of the Treasury, IRS and the U.S. Department of Labor plan to implement coronavirus-related paid leave for workers and tax credits for small and midsize businesses to swiftly recover the cost of providing coronavirus-related leave.
“EIDL advances continue to go out the door quickly now and should continue to show up in people's checking accounts. Unfortunately ODA does not have a mechanism to alert people that they are getting a deposit into their bank account so the money just pops up without notice.” -SBA Office of Disaster Assistance