COVID19

TWU’s Center for Women Entrepreneurs is offering 100 AssistHER grants worth $10,000 each to small Texas businesses owned by women that demonstrate need as a direct result of the COVID-19 pandemic.

The money can be used for some operating expenses, technology upgrades or to adapt to a new business model. It cannot be used for sales tax, payroll, advertising, penalties and other items. Apply online!

On Wednesday, the Fort Worth Chamber of Commerce hosted the City of Fort Worth and covered the topic of essential vs. non-essential businesses. At this time, the following are considered essential:

•  Landscaping and lawn mowing services are allowed and considered essential business. 
•  Construction work with the exclusion of renovation is allowed and considered essential business.
•  Car dealerships can keep online sales and car delivery; however, lot sales and test driving are not allowed.
•  Essential retail stores include grocery stores, convenience stores, and restaurants (no dine-in availability)
• Real Estate – title transactions in person are allowed. However, the City of Fort Worth encourages limiting the number of individuals in the same room.

For a list of essential and non-essential businesses (updated regularly), visit: http://fortworthtexas.gov/COVID-19-business/

• Hotline (817)392-8478
• Email: covid19@fortworthtexas.gov

On Thursday evening, Congressional lawmakers put the finishing touches on a $2 trillion stimulus bill to respond to the coronavirus pandemic, with cash and assistance for regular Americans, Main Street businesses and hard-hit airlines and manufacturers, among others. The Senate passed the bill, 96-0, and the House is set to follow suit Friday. The following are major inclusions that relate to small businesses:

• $350 billion in loans for small businesses (< 500 employees)
• Loans equal to the lesser of 2 1⁄2 months of payroll or $10 million
• Loans convert to grants if used to maintain employees
• Loans by local and national lenders

• Liquidity help through the tax code
• Delay for payment of employer payroll taxes
• Net operating loss
• Business interest deductibility

• $425 billion for loans, loans guarantees, and support for the Federal Reserve
• Federal Reserve could leverage $400 billion to up to $4 trillion
• Separate programs for airlines and critical national security companies

U.S. Small Business Administration (SBA) announced changes to help borrowers still paying back previous loans from previous disasters. 

Deferements will automatically through December 31, 2020. 

For more information, visit: https://www.sba.gov/about-sba/sba-newsroom/press-releases-media-advisories/carranza-implements-automatic-deferment-existing-sba-disaster-loans-through-end-2020

On Tuesday, the Fort Worth Chamber of Commerce hosted Sparkyard on their Leadership webinar series. Sparkyard connects a large network of primarily nonprofit service providers offering a wide variety of business-building services for small businesses. They facilitate the linking of these resource organizations to one another and to established, emerging, startups, and small businesses throughout the region.

Their network resource partners provide a wide range of business-related services, including:

• Business Planning
• Loans/Financing
• Investors
• Marketing/Sales
• Licenses/Permits
• Startups
• Product Development
• Training Classes
• Government Contracts
• Operations
• Incubator/Accelerator Programs
• Events

For more information contact Sparkyard at (682) 351-2563, or email them at info@sparkyard.co