TACCA Update April 22
Wednesday, April 22, 2020
Posted by: Devorah Jakubowsky
Increase Your Chance to Get a Small Business Loan
Legislation passed by the Senate yesterday is expected to be passed by the House Thursday and includes $320 billion for the Paycheck Protection Program, which ran out of money last week. During the Governor's Small Business Webinar Series - North Texas today, Small Business Administration (SBA) representatives stated that if you submitted an application previously, you should confirm with your bank that your application is still active and in the queue for processing.
If you have not applied, the SBA advises to apply online or by phone rather than in person. If you don’t already have an established banking relationship, your application will be handled on a first-come, first-served basis.
The most recent application form is posted on the Treasury Department’s Cares Act resource page. Once you gather the required information, you should contact an SBA-approved lender. You can find one by plugging your Zip code into an online tool on the SBA’s website.
Have You Received Funding?
Whether you applied or not, received funds or not, TACCA would love to hear from Texas contractors about their experience with emergency funding through the Paycheck Protection Program and the Emergency Injury Disaster Loans. Would you take 40 seconds to complete this short 5 question poll?