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Economic Injury Disaster Loans for businesses and qualified private nonprofits

Posted on 03/17/2020 by Austin Chamber of Commerce

The State of Texas is preparing an application for an Economic Injury Disaster Loan declaration that would give the state access to small business disaster assistance loans from the U.S. Small Business Administration through the economic injury disaster loan program.

Economic Injury Disaster Loans provide small businesses with working capital loans of up to $2 million to help meet financial obligations and operating expenses until normal operations resume.

This worksheet is to qualify the State of Texas for assistance just as other states are in the process of doing.

Business that don’t participate in the survey at this time will still be eligible for benefits. This initial effort is to begin the economic loss documentation so that Texas can start qualifying for assistance.

Once the Economic Injury Disaster Loan program is activated for Texas, all small businesses within affected counties will become eligible to apply directly through the Small Business Administration.

To improve the process by which the state and individual counties will be declared eligible, the Texas Division of Emergency Management is reaching out to business organizations and individual businesses seeking applicants for the EIDL which will lead to state and county certifications.

If your business was affected by this disaster, we encourage you submit an application/worksheet (available below) to TDEM to determine eligibility. These applications should be submitted to TDEMPARecovery@tdem.texas.gov.

  • COVID-19 SBA Economic Injury Declaration General Overview
  • SBA EIDL Worksheet COVID-19

Related Categories: COVID-19 resources, For businesses