SBA continues to assist small businesses with accessing federal resources, such as working capital loans and counseling, and navigating their preparedness plans through our network of 68 District Offices and numerous Resource Partners located around the country. 

On Friday, Governor Abbott issued a disaster declaration for all 254 counties. SBA has been in touch with state officials to gather data for an Economic Injury Disaster Loan (EIDL) declaration. Once the SBA EIDL declaration is issued the SBA will begin to accept applications from small businesses in the State of Texas. 

What is an Economic Injury Disaster Loan? Economic Injury Disaster Loans cover vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. Not for potential losses. And the borrower must not have access to “credit elsewhere”. 

In the meantime, if you have businesses that meet the criteria above and have been impacted please ask them to contact our office as we are helping gather impact data to submit to the state. POC is Josh Patton, Lender Relations Specialist, 956-427-8533 Ext. 225 or email to joshua.patton@sba.gov. 

For support with guidance for businesses and employers please see Small Business Guidance and response to COVID-19. 

Lastly, in anticipation of a EIDL application, small business can begin gathering the information below. 

FOR ALL APPLICATIONS THE FOLLOWING ITEMS MUST BE SUBMITTED. 

• Loan application (SBA Form 5), completed and signed (this is electronic/online in the portal) 
• Tax Information Authorization (IRS Form 4506-T), completed and signed by each applicant, each principal owning 20 percent or more of the applicant business, each general partner or managing member; and, for any owner who has more than 50 percent ownership in an affiliate business. Affiliates include, but are not limited to, business parents, subsidiaries, and/or other businesses with common ownership or management 
• Complete copies, including all schedules, of the most recently filed Federal income tax returns for the applicant business; an explanation if not available 
• Personal Financial Statement (SBA Form 413) completed, signed, and dated by the applicant, each principal owning 20 percent or more of the applicant business, and each general partner or managing member 
• Schedule of Liabilities listing all fixed debts (SBA Form 2202 may be used) All of these forms are available in the Disaster Loan Application Portal. 

The Disaster Loan Application Portal is at https://disasterloan.sba.gov/ela/.