57.1 F
Denton
Wednesday, April, 30

COVID-19 Designated as Qualifying Event for Small Business Association Economic Injury Disaster Loan

Denton Stories

Audit Reveals Gaps in Denton’s Homelessness Response

DENTON, TX — A new report from the City...

Denton Receives Texas Environmental Excellence Award for Innovative Waste Management

The Texas Commission on Environmental Quality has awarded the...

Denton Celebrates Bird City Texas Certification with UNT Efforts at the Fore

Denton, Texas—In recognition of its commitment to avian conservation,...

From the April 25th, “Friday Staff Reports to City Council” Government

The Friday Staff Report to City Council provides weekly...

Private school vouchers head to Abbott’s desk to become law

The Texas Senate voted on Thursday to send legislation...

From the April 11th, “Friday Staff Reports to City Council” Government

The Friday Staff Report to City Council provides weekly...

Economic Injury Worksheet Available on City of Denton Website

DENTON, TX, March 17, 2020 – The Small Business Association (SBA) has designated COVID-19 as a qualifying event for the provision of Economic Injury Disaster Loans (EIDL) for businesses and private nonprofits in affected communities that have sustained substantial economic injury. Qualification for the loan is triggered when a business is unable to meet its obligations and to pay its ordinary and necessary operating expenses. EIDLs provide the necessary working capital to help small businesses survive until normal operations resume after a disaster.

The Economic Injury Worksheet (EIW) is a document that small businesses and private nonprofits can complete and submit to the City of Denton. The City will compile the EIWs and submit them to the Texas Department of Emergency Management (TDEM). While this will not guarantee any funds to any specific business, it will aid the State of Texas in obtaining economic injury declaration in support of COVID-19, which may qualify businesses and private nonprofits as applicants for Federal or State assistance in the future.

Once five submitted worksheets are validated by the SBA, the Texas Governor may request the SBA Economic Injury Disaster Declaration. A county will be included in this declaration if it has at least one qualifying EIW or the county is contiguous to another qualified declared county. Additional counties may be included in a declaration by TDEM after it is received.

Denton businesses can access the EIW form at www.cityofdenton.com/coronavirus and submit completed forms to Jessica.Rogers@cityofdenton.com.

Contact: Jessica Rogers, (940) 349-7531, Jessica.Rogers@cityofdenton.com

Sign Up For Weekly Newsletter

Great way to stay in touch with all of Denton’s news and events. We don’t sell or spam you, so sign-up today!

Uh-oh! It looks like you're using an ad blocker.

Our website relies on ads to provide free content and sustain our operations. By turning off your ad blocker, you help support us and ensure we can continue offering valuable content without any cost to you.

We truly appreciate your understanding and support. Thank you for considering disabling your ad blocker for this website