Coronavirus update: SCORE is suspending face-to-face mentoring and physical workshops; however,

Our mentors are available to help you by video chat, email, or telephone

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Texas small businesses can now apply for the Paycheck Protection Program (PPP) Grant/Loan and/or Economic Injury Disaster Loan (EIDL) to help with the COVID-19 crisis.

Download Step by step guide to filing PPP and EIDL applications. 

  • Click here to download financing programs focused on PPP, Bridge Loans, Deferment. Click here for PPP Fact Sheet. 
  • Click here to download the presentation mainly on EIDL. Click here for the recording of this webinar (sorry, we missed the first few minutes).

Attend SBA's informational webinars and ask questions.  Download more information at  SBA.Gov/TX/Houston and scroll down to Coronavirus (COVID-19): Small Business Guidance & Loan Resources. 

PPP is managed under SBA 7a and the money will be disbursed through the banks and other lenders who participate in Government Guaranteed Lending. Loans will cover payroll, rent, and utilities and if 75% of the proceeds are used to cover payroll, the loan will be forgiven. Go to your bank and follow their procedure. Download this sample application form from the Treasury Department. The banks are taking applications now except if you are Independent contractors and self-employed individuals. You must wait until April 10 to file.

EIDL is managed by SBA. These are targeted, low-interest loans of up to $2 million to small businesses (3.75% interest rate, fixed) and non-profits (2.75%) that have been severely impacted by the Coronavirus. There is no payment for the first 12-months.  There is now a streamlined application online with an option to ask for an advance of up to $10,000 within 3-days of the application.  This amount is a grant and you keep it even if the EIDL loan is denied. If already filed before March 30, go online and file the streamlined application again. 

  • Go to  Disasterloan.sba.gov (For information, call 800-659-2955) and submit the online loan application which will ask for information similar to that in these paper forms: SBA Form 5 (Form 5C for Sole Proprietor) and Supporting documents: SBA Form P-109.
  • You may be asked for additional information:
    Release of income taxes - completed IRS Form 4506-Ts; Personal Financial Statements (SBA Form 413D); Schedule of Liabilities (SBA Form 202); Monthly sales figures (SBA Form 1368); Up to two (2) years complete business tax returns with all schedules; A current year-to-date profit-and-loss statement
  • Credit Elsewhere provision is waived under the CARES act.

While waiting for the SBA loan, we suggest you do the following to conserve CASH:
* Contact banks for a bridge loan to cover immediate needs
* Contact lessors of property to postpone payment for a couple of months
* Contact suppliers to see if they are willing to delay payments
Download this useful toolkit from U.S. Chamber of Commerce

Why SCORE?

SCORE offers the nation's largest network of free, expert business mentors. [Click here for our office locations]

If you're just starting a business, SCORE mentors can provide the practical action plan, education, and tools you need to open your doors and establish a customer base.

If you already own a business, our volunteer mentors can help identify ways to increase profit, improve employee and customer satisfaction, and achieve work/ life balance.

With SCORE, you can have the honest, confidential and sometimes tough conversations about managing money, motivating your team, and other business topics. We can be your confidant, your cheerleader and your accountability partner on your path to achieving success.

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  • We specialize in business planning, marketing, and financial strategies...
  • We have experts in retail, clothing, leasing, online stores...
  • We assist with patent, trademark, legal, accounting...
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Browse our library for Business plan templates, Startup check-list, Selecting the right legal structure, Important phone numbers, SBA loan programs, and more.

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2019 SBA Small Business Awards Winners

Small Business Persons
of The Year

Family-Owned Business
of The Year

Entrepreneurial Success
Award

8(a) Graduate
of The Year

 

       

 

Ragan and Cindi Bond
Independence Coffee Co.

Janice & Robert Jucker
Three Brothers Bakery

Michael G. Scheurich
Arch-Con Corporation

Denise S. Navarro
Logical Innovations, Inc.

 

Women in Business
Champion

Financial Services
Champion

Home-Based Business Champion

Minority SB Champion
of The Year

Veterans Business Champion

Nancy Mensah
Triumphant Women Inc.

Richard Gianni
LiftFund

Jasmin Augustin
LegalShield Indep. Associate

Estella Gonzalez
Baker Ripley

Kevin B. Doffing
Sam's Safety Equipment