March 20, 2020:
The following came to City staff from:
Jennifer Alden, District Director/Coordinator,
Office of Congressman Lance Gooden:
I wanted to get this out to all of you before we begin our weekends. The change is unprecedented, and everything is happening rapidly. I just completed a conference call w/ SBA in DC. They had good info to share; but, moreover, they allowed Congressional staff to ask questions, which is important to our individual needs.
Here’s the info constituents will need to apply for a Small Business Administration (SBA) loan:
SBA Disaster Assistance Loan Page: (FYI: this site works best with Internet Explorer):
Small Business Administration Disaster Assistance Loan page
Texas is listed w/ New Mexico under states eligible for Coronavirus
We have been told ALL Texas counties are now eligible.
Process: Complete 2 page application, Complete IRS 4506-T (electronic form), Provide personal financial statement. SBA is looking to waive other requirements like full tax releases; obviously many companies/individuals have not yet filed for 2019. If needing a greater amount (over $500k), requirements will go up. Loans can be made up to $2 million.
SBA will be using the NAICS code to determine eligibility
If SBA assistance is needed while filling out the form, call customer service: at 800-659-2955 (only if one on one is needed) or Email Disaster Customer Service (1 or 2 day reply)