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. For additional information, please visit: https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources.
Three easy steps:
1. Apply for Loan at disasterloans.sba.gov/ela
2. Loan Processing Decision Made
3. Loan Closed and Funds Disbursed
Is my business considered essential?
Essential Services Designation Gov Greg Abbott (updated 3/31/20)
First Amended Parker County Declaration County Judge Pat Deen (updated 3/23/20)
Small Business Development Centers
America’s Small Business Development Centers (SBDC) work in partnership with the US Small Business Administration. They provide local support for small businesses, including FREE business consulting year-round. Weatherford’s local branch is SBDC at Tarleton State University. Contact them by phone at 254-968-0558 or email email@example.com. Throughout this time, the SBDC is continually providing information for employers and job seekers. We will continue to post these below.
The programs and initiatives in the Coronavirus Aid, Relief, and Economic Security (CARES) Act are intended to assist business owners with whatever needs they have right now. Many new resources are now available for small businesses, as well as certain nonprofits and other employers including:
- Paycheck Protection Program
- Small Business Debt Relief Program
- Economic Injury Disaster Loans/Emergency Economic Injury Grants
- Small Business Counseling
- Employee Retention Tax Credits
National Federation of Independent Business: the voice of small business
The National Federation of Independent Business (NFIB) is the voice of small business, advocating on behalf of America’s small and independent business owners. NFIB provides regular updates on the status of federal legislation pertaining to Coronavirus. Click here to learn more. NFIB also has Small Business Coronavirus Resources that can be found here.
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.
Small business offers, services, and grants
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. We’ll share more details as they become available. APPLY NOW
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. START NOW
Forbes: List of Banks Offering Relief to Customers Affected by COVID-19
Forbes has compiled and continues to update a list of national banks that have implemented measures to help ease financial burdens. Click here for the most current list.
Placer.ai: Retail Impact Tracker for COVID-19 - now for free
During this period of uncertainty, Placer.ai wanted to provide the world with some valuable insights into the current state of the retail landscape. Our hope is that the community can tap into these insights to keep the current pulse of the market. With that, we’re excited to announce the launch of our COVID-19 (Coronavirus) Retail Impact Tracker, free for all.
MainVest Main Street Initiative
If you have an existing brick & mortar business that has been negatively effected by the COVID-19 outbreak and you launch a capital raise on Mainvest, you may be eligible to receive a $2,000 zero-interest loan immediately. Learn more here.
AssistHer Emergency Relief Grant
The purpose of this program is to assist Texas woman-owned businesses that have been severely impacted by Coronavirus (COVID-19). A total of $1,000,000 (100 grant awards) is available. APPLY NOW.
Thryv for small business
Thousands of small business owners trust Thryv with essential business functions like contact management, text and email marketing, and payment processing so they can get back to doing what they love — running their businesses. Now, Thryv is offering a multitude of free services for businesses affected by COVID-19. Find out how this software can help you!
The Thryv Small Business Foundation announced its Small Business COVID-19 Grant Program, a grant application program that will award immediate grants to struggling small businesses.
Texas Comptroller of Public Accounts offers assistance
The Texas Comptroller’s office knows that during periods of economic hardship, paying or remitting taxes and fees on time can feel like an extra burden when there’s so much uncertainty. The agency is dedicated to offering assistance to those businesses that are struggling to pay the full amount of sales taxes they collected in February. For businesses that find themselves in this situation, the Texas Comptroller’s office is offering assistance in the form of short-term payment agreements and, in most instances, waivers of penalties and interest. Visit their COVID-19 Help page for more info.
Contact the Enforcement Hotline at 800-252-8880 to learn about your options for remaining in compliance and avoiding interest and late fees on taxes due.
2020 Franchise Tax Report and Payment Due Date Extended to July 15
To provide Texas franchise taxpayers some relief, the Texas Comptroller of Public Accounts is automatically extending the due date for 2020 Texas franchise tax reports to July 15, 2020 to be consistent with the Internal Revenue Service (IRS). The due date extension applies to all franchise taxpayers. The extension is automatic, and franchise taxpayers do not need to file any additional forms. Click here for more information.
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.
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.
Updates from State Representative Phil King
Videos and Webinars
• Tips on SBA Disaster Loan application (Fort Worth Chamber of Commerce)
• Basic tools, resources and rules to keep your team motivated while working remotely (Fort Worth Chamber of Commerce)
• COVID-19 Retail Impact webinar (Placer.ai)
• U.S. Senator John Cornyn joins us to talk about the CARES Act (Fort Worth Chamber of Commerce)
• The Road to Retail Recovery (Placer.ai)