Covid-19 Grapevine

Covid-19 Response Business Resources

Texas Economic Injury Disaster Loan (EIDL)

Governor Abbott announced that the U.S. Small Business Administration (SBA) has now granted Texas’ Economic Injury Disaster Loan (EIDL) assistance declaration, making loans available statewide to small businesses and private, non-profit organizations to help alleviate economic injury caused by the Coronavirus (COVID-19). Next Steps: Small businesses who believe they may be eligible for an SBA EIDL should visit the SBA’s website where they can directly apply for assistance. The online application is the fastest method to receive a decision about loan eligibility.


THOSE APPLYING WILL NEED TO REFERENCE THE SBA'S DECLARATION NUMBER FOR THIS LOAN, WHICH IS TEXAS #16381.

Here are the five documents on the website you will need to complete:

1. IRS Form 4506-T
2. Personal Financial Statement (SBA Form 413)
3. Schedule of Liabilities & Fixed Assets (SBA Form 2202)
4. Monthly Sales (SBA Form 1368)
5. Home Loan (SBA Form 5c), if applicable



Below is the list of ten documents you should assemble and scan to prepare for uploading them into the EIDL website:

1. Corporate governance documents; e.g., Articles of Incorporation, Articles of Organization (for LLC), or Registration of Sole Proprietorship
2. A written narrative statement justifying the nature and scope of economic injury and how/why nature of the business was adversely impacted by the Coronavirus ( one page/no more than two), such loss of revenues, canceled contracts, interrupted supply chain, etc.
3. Current Accounts Payable and Accounts Receivable Aging as of the date of filing for the loan
4. Three (3) years’ 1040 Federal Income Tax Returns for the business & owners
5. Three (3) years’ company FYE Income Statement and Balance Sheet and the latest YTD Financial Statements (Company prepared)
6. Company and Owners’ Debt Schedule Tables [e.g., Lender, original loan amt., date, current balance, interest rate (F or V?), collateral, the purpose of the loan, guarantors, status (e.g., current or past due with explanation) per row in the table]
7. Monthly (reasonably detailed) two (2) years cash flow projections
8. Three (3) years’ Monthly Sales History up to date of filing for a loan
9. Current copies of owners’ credit reports from the three (3) credit bureaus with explanations for any negative reports
10. Required SBA Forms (of all Owners, Co-owners & Principals owning 20% or more of the small business): IRS Form 4506-T, Personal Financial Statement (only on SBA Form 413), Schedule of Liabilities and Fixed Assets (SBA Form 2202), Monthly Sales (SBA Form 1368), Home Loan (SBA Form 5c)

Go to http://www.disasterloan.sba.gov to complete your profile and download forms.



Local Resources

City of Grapevine COVID-19
Tarrant County COVID-19 Information
Workforce Solutions for Tarrant County
Tarrant County SBDC

Table of Upcoming Online Events



Update pages:

Community Impact
Grapevine Chamber

Downloadable Documents:

The Governor’s Report to Open Texas – April 27, 2020
Guidance for Employers, Employees, and Customers of Reopened Retail Services
GV Emergency Management Briefing – May 6, 2020
PPP Borrower Information Fact Sheet
Small Business Owner's Guide to the CARES Act
Guide to SBA's Economic Injury Disaster Loans
Guide to the Employee Retention Tax Credit
Coronavirus Emergency Loans: Small Business Guide and Checklist
Paycheck Protection Program (PPP) vs Economic Injury Disaster Loan (EIDL)
Texas Bankers Association Guidance on CARES Act



State Resources

Office of Texas Governor News
Office of the Governor - Coronavirus
Office of the Governor - Business and Coronavirus
Texas Workforce Commission
Texas Health and Human Services
TxDOT
CARES Act – CDBG Funds Overview



National Resources

Federal and state government entities and nonprofits are working together to control the spread of the coronavirus and to support the businesses and individuals impacted by the virus and/or the protective measures being taken.

US Chamber


Resources for Businesses


Health and Safety