Texas Governor Requests Small Business Administration Disaster Loans 

March 18, 2020

On March 17, 2020, Texas Governor Greg Abbot formally requested the U.S. Small Business Administration declare a disaster for the entire state of Texas pursuant to 13 CFR § 123.3 to address the impact of the coronavirus on small businesses. Here is a copy of Governor Abbot’s letter and press release.

If granted, the state of Texas and any other designated states would have access to long-term, low interest Economic Injury Disaster Loans (EIDL) for businesses and private nonprofits from the U.S. Small Business Administration of up to $2 million to help meet financial obligations and operating expenses. Additional information on EIDL from the U.S. Small Business Administration can be found here.

 

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Authors

Aaron Holt

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aholt@cozen.com

(832) 214-3961