- Small Business Resources
Small Business Resources
Health and government officials are working together to maintain the safety, security, and health of the American people. Small businesses are encouraged to do their part to keep their employees, customers, and themselves healthy.
The U.S Small Business Administration (SBA) provides low-interest, long-term economic injury disaster loans (EIDLs) to small businesses, small agricultural cooperatives, and most private non-profit organizations to help meet financial obligations and operating expenses that could have been met had the disaster not occurred. EIDLs provide the necessary working capital to help small businesses survive until normal operations resume after a disaster.
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. 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.
For additional information on these and other programs, please visit and check often for updates:
Three easy steps:
1. Apply for Loan at disasterloan.sba.gov/ela
2. Loan Processing Decision Made
3. Loan Closed and Funds Disbursed
CDC: Interim guidance for businesses and employers
The Centers for Disease Control and Prevention has released an interim guide to assist businesses and employers plan, prepare and respond to Coronavirus Disease. The CDC will update this interim guidance as needed and as additional information becomes available.
Dropbox for businesses
Dropbox is currently offering a free 30-day Dropbox Business Subscription to aid businesses in working remote, staying connected, and more . Learn more on their website here.
Facebook Small Business Grants Program
We know that your business may be experiencing disruptions resulting from the global outbreak of COVID-19. We’ve heard that a little financial support can go a long way, so we are offering $100M in cash grants and ad credits to help during this challenging time.
Facebook is offering $100M in cash grants and ad credits for up to 30,000 eligible small businesses in over 30 countries where we operate. We’ll share more details as they become available.
Federal Income Tax Filing Date Deferred to July 15
Federal income tax returns, along with Federal income tax payments, that were due April 15, 2020, have been automatically postponed to July 15, 2020 without any interest or penalties. Originally, the IRS was allowing tax payments to be deferred until July 15, but returns would still be have been required to have been filed by April 15, but this was later revised to also extend the filing of tax returns to July 15. Learn more.
Federal Tax Credit for Require Paid Leave
The Families First Coronavirus Response Act (Act), signed into law on March 18, 2020, allows small and midsize employers two new refundable payroll tax credits, designed to immediately and fully reimburse them, dollar-for-dollar, for the cost of providing the act’s required Coronavirus-related leave to their employees. All businesses with fewer than 500 employees are eligible to receive funds to provide employees with paid leave, either for the employee’s own health needs or to care for family members. The legislation is designed to enable employers to keep their workers on their payrolls, while at the same time ensuring that workers are not forced to choose between their paychecks and the public health measures needed to combat the virus.
Eligible employers who pay qualifying sick or child care leave will be able to retain an amount of the payroll taxes equal to the amount of qualifying sick and child care leave that they paid, rather than deposit them with the IRS. The payroll taxes that are available for retention include withheld federal income taxes, the employee share of Social Security and Medicare taxes, and the employer share of Social Security and Medicare taxes with respect to all employees. Learn more (including examples) on the tax credits.
Fiverr - Learn how to take your business online - now for free
To help your business face the challenges presented by the Coronavirus outbreak, fiverr is offering 4 premium courses for free, and for a limited time.
Texas Workforce Commission - Preventing and Managing Layoffs
The Texas Workforce Commission (TWC) encourages employers to enroll in Shared Work program as an alternative to layoffs. The voluntary Shared Work program was developed to help Texas employers and employees withstand a slowdown in business such as the impact of COVID-19. For more information on the Shared Work Program or to apply for the program, click here. Other tips for preventing and managing layoffs can be found here.
TWC resources for employers can be found here.
TWC resources for job seekers can be found here.