Covid-19 Business Resources & Information

As COVID-19 continues as a global concern, the Denison Development Alliance is monitoring the situation on behalf of our local business community. We want to provide you with accurate information, useful tools and resources that allow you to continue to operate your business effectively.

Local Updates

Financial

  • U.S. Chamber of Commerce Foundation grant to help aid small businesses. Available starting April 20, 2020. Save Small Business
  • US Small Business Administration (SBA) Guidance & Economic Injury Disaster Loans – Up to $2 million in working capital at very low interest rates to cover operations until normal business resumes. 
    • SBA / Business Guidance & Loan Resources  
      • Paycheck Protection Program (PPP) - ADDITIONAL FUNDING APPROVED – prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses. Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards. See Frequently Asked Questions about PPP.
        • The program would provide cash-flow assistance through 100% federally guaranteed loans to employers who maintain their payroll during this emergency. If employers maintain their payroll, the loans would be forgiven, which would help workers remain employed, as well as help affected small businesses and our economy snap-back quicker after the crisis. PPP has a host of attractive features, such as forgiveness of up to 8 weeks of payroll based on employee retention and salary levels, no SBA fees, and at least six months of deferral with maximum deferrals of up to a year. Small businesses and other eligible entities will be able to apply if they were harmed by COVID-19 between February 15, 2020 and June 30, 2020. This program would be retroactive to February 15, 2020, in order to help bring workers who may have already been laid off back onto payrolls. Loans are available through June 30, 2020.
        • Under this program:
          • Eligible recipients may qualify for a loan up to $10 million determined by 8 weeks of prior average payroll plus an additional 25% of that amount.
          • Loan payments will be deferred for six months.

          • If you maintain your workforce, SBA will forgive the portion of the loan proceeds that are used to cover the first 8 weeks of payroll and certain other expenses following loan origination.

      • Economic Injury Disaster Loans and Loan Advance (EIDL) - ADDITIONAL FUNDING APPROVED – In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. These grants provide an emergency advance of up to $10,000 to small businesses and private non-profits harmed by COVID-19 within three days of applying for an SBA Economic Injury Disaster Loan (EIDL). See Frequently Asked Questions about EIDL.

        • To access the advance, you first apply for an EIDL and then request the advance. The advance does not need to be repaid under any circumstance, and may be used to keep employees on payroll, to pay for sick leave, meet increased production costs cue to supply chain disruptions, or pay business obligations, including debts, rent and mortgage payments. See Frequently Asked Questions

        • The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid. Apply for a COVID-19 Economic Injury Disaster Loan.

      • SBA Debt Relief – The SBA Debt Relief program will provide a reprieve to small businesses as they overcome the challenges created by this health crisis. Under this program:
      • SBA Express Bridge Loans - This pilot program allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 with less paperwork. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loans or used to bridge the gap while applying for a direct, while the small businesses apply for and await long-term financing through SBA Economic Injury Disaster loan.  If a small business has an urgent need for cash while waiting for decision and disbursement on Economic Injury Disaster Loan, they may qualify for an SBA Express Disaster Bridge Loan.
        • Terms: Up to $25,000; Fast turnaround; Will be repaid in full or in part by proceeds from the EIDL loan.

  • Texas Workforce Commission – COVID-19 resources for job seekers
    • Workforce Solutions Texoma
      • Workforce Solutions Texoma Unemployment Insurance Resources - Unemployment Insurance resources are now available to "Non traditional" Applicants which includes individuals not eligible for regular Unemployment Insurance benefits. Non traditional includes independent contractors, the self-employed, and those without sufficient wages.If you qualify for any state UI benefits then you will get the entire $600 weekly from the federal CARES Act. If you applied before April 5th you can now reapply.
    • Disaster Unemployment Assistance Overview and eligibility, applying for DUA, documents needed, ongoing requirements
  • Facebook Small Business Grants Program - $100 million in available funding and ad credits for up to 30,000 eligible small businesses

  • IRS Tax Deadline Extension - The Department of Treasury and IRS have moved Tax Day from April 15, 2020 to July 15, 2020 for small and medium size businesses and individuals who need it. While individuals and businesses have an additional 90 days to file and make payments without interest or penalties, those who may receive tax refunds should file now to get money. Details can be found on the IRS website

  • IRS Payroll Tax Credit for Small and Midsize Businesses

  • IRS Filing and Payment Deadlines Questions and Answers

Business Surveys to Report or Assist with COVID-19 Impact

  • Can your business manufacture critically needed supplies?
  • How to Help - companies with medical supplies, equipment and services:
    • To sell medical supplies or equipment to the federal government, email specifics to covidsupplies@fema.dhs.gov.
    • If you have medical supplies or equipment to donate, provide details on what you are offering.
    • If you are a private company that wants to produce a product related to the COVID response, email nbeoc@max.gov.
    • For non-medical supplies, services or equipment, if you are interested in doing business with FEMA, visit the Industry Liaison Program.

Employer Information

Manufacturers Resources

State of Texas Regulatory

National "Coronavirus Aid, Relief, and Economic Security (CARES) Act"

Congressman John Ratcliffe shared the U.S. House of Representatives (passed S. 3548), Coronavirus Aid, Relief, and Economic Security (CARES) Act, which President Trump signed into law. This bill will provide aid to the American workers, families, small businesses, and health care providers. Some key resources from the bill are:

Other Resources

Updated: July 2, 2020