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Business Abbott requests designation to initiate low interest small business loans

Abbott requests designation to initiate low interest small business loans

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Gov. Greg Abbott on Tuesday requested designation from the Small Business Administration (SBA) Economic Injury Disaster Declaration in order to access the Economic Injury Disaster Loan (EIDL) program for the entire state of Texas. If granted, the SBA would provide long-term, low-interest loans to qualifying businesses across the state.

“At a time when small businesses are hurting from the economic impact of COVID-19, the State of Texas is committed to helping these businesses receive the financial relief they need to continue operating,” said Abbott. “That is why today I requested that the U.S. Small Business Administration implement a declaration to provide SBA Economic Injury Disaster Loans for the entire state of Texas.”

All small businesses who believe they may be eligible for an SBA EIDL should visit the Texas Division of Emergency Management (TDEM) website: https://tdem.texas.gov/covid-19/. They will be directed to the SBA website where they can apply for assistance.

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