Texas Governor Gregg Abbott announced that the entire state of Texas will be included in the U.S. Small Business Administration’s Economic Injury Disaster Loan (EIDL) program.
The EIDL program will provide long-term, low interest loans to businesses who qualify from across the state.
“Small businesses are the foundation of our state’s economy and they need all the help they can get as the ripple effects of COVID-19 impact their everyday operations,” said Abbott. “Today’s decision by the U.S. Small Business Administration to make Economic Injury Disaster Loans available to qualifying small businesses across Texas is a vital lifeline for Texas small business owners who are doing their best to adapt to these trying times.”
According to a news release, the Governor’s request was driven by COVID-19-related economic losses across Texas as a result of major event cancellations, loss of walk-in customers, depletion of stock from suppliers, and client cancellations.
“The overriding message of this time in history is that we are all in this together,” said Governor Abbott. “From people responsibly remaining at home to protect themselves and their communities to the small businesses adapting to serve them, Texans are showing their willingness to serve the greater good and that’s why we’ll overcome this together. That’s what Texans do. We are not only Texas Strong, we are #TexasBizStrong.”
Small businesses who believe they may be eligible for an SBA EIDL should visit www.sba.gov/disaster to directly apply for assistance.
