Small Business Association offering economic aid to South Texas: Here's what to know. - Alice Echo News-Journal

On Thursday, May 20, the U.S. Small Business Administration (SBA) will host an informational classroom to help South Texas, small business owners, in seeking economic aid and resources to weather the difficult tides brought on by the pandemic.

The SBA training on May 20 via Zoom will include:

Overview of SBA programs to assist businesses
Updates on the available SBA funding options
Economic aid relief options for small businesses
Small business advising and counseling

“I want small business owners in Jim Wells County (JWC) and surrounding areas to please consider these resources and become informed of options and funding available to help them succeed,” JWC Economic Director Larry Martinez said. “My hope is to get the word out for local business owners to benefit from the economic aid and create jobs for our area.”

Martinez explains, “The Biden Administration has allocated $28 Billion from the American Rescue Plan Act 2021 targeting small business aid and funding. These funds are available for all business owners and I would hope businesses would pre-register throughout the area and surrounding cities because the more jobs we create the better an economy will follow.

For example, the Restaurant Revitalization Fund (RRF) is now available to help restaurants, caterers, food trucks and other eligible businesses keep their doors open. The program will provide restaurants with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023.

Restaurant Revitalization Fund (RRF) is funding to help restaurants and other eligible businesses keep their doors open. This program will provide restaurants with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location

In addition, the SBA is offering several relief options to help businesses, nonprofits, and faith-based organizations recover from the impacts of COVID-19.

Funding options under the SBA include:

Paycheck Protection Program loans
First Draw PPP loans: If you have not received a PPP loan before, First Draw PPP loans are available to you.
Second Draw PPP loans: If you have previously received a PPP loan, certain businesses are eligible for a Second Draw PPP loan.
COVID-19 Economic Injury Disaster Loan (EIDL)
SBA debt relief (for existing borrowers)
Shuttered Venue Operators Grant (SVOG)
Restaurant Revitalization Fund

“By joining the upcoming SBA workshop local business owners will have a personal approach and the opportunity to ask questions specific to their business needs. The intention is to help assist small business owners with all the help and resources possible,” Martinez added.