Coronavirus Resources

This page will be updated frequently to provide more information and resources available to small businesses. 

Last updated: April 2nd

PeopleFund resources: 

Click here to learn more about out our resources, including funding and education.

Small Business Administration (SBA) Resources: 

If you have an SBA loan under any of these programs (504, 7 (a) Community Advantage, Microloan) the SBA will relieve of any obligation to  pay the principal, interest and any associated fees that are owed on a loan in a regular servicing status for a 6-month period beginning with the first payment due on a loan after March 27, 2020. SBA will pay this first loan payment to the Lenders within 30 days of the first due date after March 27, 2020. If a Lender receives a loan payment from a Borrower after March 27, 2020, the Lender must inform the Borrower that it has the option of the Lender either returning the loan payment to the Borrower or applying the loan payment to further reduce the loan balance after application of SBA’s payment.

Click here to see the SBA’s Coronavirus (COVID-19): Small Business Guidance & Loan Resources

Click here to register for free webinars on SBA’s Economic Injury Disaster Loan Program for Businesses Impacted by COVID-19

PeopleFund is a preferred SBA lender and can assist you finding the right help, whereas from the SBA or one of our programs. Please know that all SBA disaster relief loan applications are being processed directly by the SBA and have to be submitted directly though their website as explained below.

Texas small business can now apply for SBA Economic Injury Disaster Loans (EIDL) to help with the COVID-19 crisis. 

What’s an EIDL?

  • The SBA EIDL program can provide low-interest loans of up to $2M to businesses and private non-profits. The loan amount is based on the working capital needs caused by the coronavirus so the business can meet its ongoing obligations.
  • EIDLs may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. See below to see what EIDL proceeds cannot be used for.
  • The interest rate is 3.75% for small businesses without credit available elsewhere. The interest rate for non-profits is 2.75%.
  • EIDLs have long-term repayment options, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based on borrower’s ability to repay.
  • For the first $25,000, no collateral is required. Over $25,000, you may be required to pledge available collateral.
  • For this specific declaration, payments will be deferred for 12 months.

Who is eligible?

  • A small business concern, Most private non-profits of any size, A small business engaged in aquaculture. Small agricultural cooperative.
  • Criteria:
    • 1. Located (physical presence) within the declared disaster area.
    • 2. Have suffered, or are likely to suffer, substantial economic injury as a result of the disaster,
    • 3. Do not have Credit Available Elsewhere,
    • 4.The size of the applicant alone (without affiliates) must not exceed the size standard for the industry in which the applicant is primarily engaged and The size of the applicant combined with its affiliates must not exceed the size standard designated for either the primary industry of the applicant alone or the primary industry of the applicant and its affiliates, whichever is higher.,
    • 5. Must be an independently owned and operated business
  • Click here to see eligibility. 

How do I apply?

  • Click here to apply online
  • Need help? Call the SBA’s Disaster Customer Service Center at 1-800-659-2955 or email [email protected].  Individuals who are deaf or hard-of-hearing can call 1-800-877-8339. The call center is open Monday – Sunday, 8a.m. – 8p.m. ET.
  • After you apply, you will be provided a decision of either approved, needs additional information, or denied. This decision should take no longer than 4 weeks, but this is dependent on application volume.
    • If you are approved, you will receive $25K of their disbursement 5 days after you have received an approval. You will then be assigned a disaster response case manager to assist in working through the rest of the disbursements, and you are able to ask for up to $2 million (dependent on need).
    • If you are denied, you will be provided a reason/denial code which should give you more information.

They have narrowed the mandatory documentation requirement down to three documents you can find directly on their site. However, we would also recommend you prepare the additional documentation they could request from you to be prepared.

For program questions or assistance in completing the application online, businesses can contact the SBA Customer Service Center at 1-800-659-2955.

Tips for applying: 

  • Apply using Microsoft Explorer or Edge browser. There has been difficulty with Chrome.
  • Disaster Processing  – Make sure Economic Injury Disaster Loan is selected.
  • How to define a loss: 
    • A business needs to define its loss in comparison to its 2019 operations/financials. Losses will be compared to the effective incident period starting on January 31, 2020. Just a loss needs to be reported; there is no threshold of a percentage or dollar amount.
  • Provide as much information as possible and be thorough on filling out documents requested so that there aren’t hold ups due to requests for additional documentation.
  • If you can obtain credit elsewhere, such as with a bank, you will likely not be approved.
  • You must provide evidence of the economic loss as of January 30th, you should include a Profit and Loss statement (P&L) for 2019, a year-to-date P&L, and a narrative of your effects.
  • There is no time in business official requirement, however, the SBA is using operating history as a piece of determining ability to repay. If there isn’t enough operating history or revenue generation there, it is likely you will not be approved which is why it is important to include a P&L for 2019.
  • When determining the amount you need, be sure to keep it to working capital needs for the next 6 months only. The loan will not fund new projects, expansion, refinancing existing debt, owner salaries, or repairs.
  • There is no harm in applying, even if you think you may not have a great chance, we would encourage you to apply anyways along with keeping aware of other opportunities for assistance.
  • The sooner you are able to apply, the better as they will be receiving a large volume of applications.
  • At the end of this funding application, there will be an option to select the Economic Injury Grant. EIDL candidates may be eligible to receive a $10,000 advance that does not have to be repaid regardless of approval. To ensure you are considered for this, you must select the Economic Injury Grant check box at the end of the application.

EIDL proceeds may not be used for: 

  • Payment of any dividends or bonuses;
  • Disbursements to owners, partners, officers, directors, or stockholders, except when directly related to performance of services for the benefit of the applicant;
  • Repayment of stockholder/principal loans, except when the funds were injected on an interim basis as a result of the disaster and non-repayment would cause undue hardship to the stockholder/principal;
  • Expansion of facilities or acquisition of fixed assets;
  • Repair or replacement of physical damages;
  • Refinancing long term debt;
  • Paying down (including regular installment payments) or paying off loans provided, or owned by another Federal agency (including SBA) or a Small Business Investment Company licensed under the Small Business Investment Act. Federal Deposit Insurance Corporation (FDIC) is not considered a Federal agency for this purpose;
  • Payment of any part of a direct Federal debt, (including SBA loans) except IRS obligations.
    • If a direct Federal debt is delinquent, your recommendation must be based on independent documentation from the appropriate Federal agency explaining how the delinquency will be cured. 50 30 9 76 Effective Date: May 31, 2018
    • If a direct Federal debt is delinquent because of the disaster, the SBA should make arrangements with that Federal creditor to have payments deferred or a similar action taken to bring the delinquency current prior to approval of an EIDL. If the Federal creditor cannot or will not cooperate, the likely result will be a decline of the EIDL request. However, if the applicant has other resources or recoveries, the SBA should generally allow (and perhaps require) those resources to be applied first to ineligible needs, such as the payment of direct Federal debt.
    • When processing during the injury period, it is generally appropriate for you to negotiate with Federal creditors to defer payments (or take similar action) until the end of the injury period. You must document why this was or was not imposed.
  • Pay any penalty resulting from noncompliance with a law, regulation or order of a Federal, state, regional, or local agency.
  • Contractor malfeasance;
  • Relocation.


The CARES Act was recently passed which provides more options for disaster funding for business owners including the Paycheck Protection Program loan, tax credits, and SBA loan payment relief. The SBA has 15 days to respond/provide infrastructure for enacting the parts of the bill that relate to small business. While we do not know everything yet, here is what we do know:

  • You can apply for both the EIDL and the Paycheck Protection Program Loan, but not for the same purposes. We can assist you in wading through the best options for you based on your capital needs.
  • The CARES Act will forgive portions of the PPP loan related to payroll and specified expenses during what they call a “covered period”. This is still a bit unclear, but but this act will not forgive your entire loan amount.
  • You will apply for the PPP with third-party lenders like banks, community lenders, and financial institutions. There are many banks who are already eligible and ready to begin taking applications Friday. You will need to contact your banking institution to learn more. PeopleFund is not currently offering PPP loans, but may be in the near future.
  • A portion of this legislation is dedicated to providing payment relief for current SBA borrowers. Borrowers with an SBA loan currently in good standing will receive 6 months of principal, interest, and fees paid for them by the SBA as of March 27th. You should not have to do anything to initiate this, however, if your lender has already taken a payment for this period, you are able to request a refund or have the amount applied to your balance.

***Although you may be able to qualify for the EIDL, PPP, and Economic Injury Grant Program, you cannot double dip on funds. The SBA will deduct the amount received from the Economic Injury Grant from your overall loan amount with EIDL and PPP, so it is important you know what you are applying for and with who.

Federal Assistance:

For details on all federal assistance, visit or en Español –

IRS Resources:

Regarding the IRS, please see their website:

US Chamber of Commerce:

The US Chamber of Commerce has published a variety of resources, including COVID-19 Tips for Employees:

There are legislative initiatives in the works also to provide economic stimulus as well as tax and federal obligation relief. The SBAs EIDL program (discussed above) is the only phase of relief that has been approved as of yet. It is unknown what will be approved and what won’t. The US Chamber of Commerce, Forbes, and other media/organizations are keeping up with the efforts. The US Chamber outlines current efforts here. It is important to continue keeping an eye on this to help you formulate new pieces of your plan.

Grant Programs: 

  • Facebook: Facebook is launching a grant program that most small businesses are eligible to apply for. They have not officially launched, but you can monitor and apply here when they do.
  • Bumble Community Grants: Bumble has announced they will be giving community grants to small businesses up to $5000. You can apply here.
  • Small Business Relief Fund: A program supported by GoFundMe, Yelp, and Intuit QuickBooks: 
  • All Together ATX Fund: A program through Austin Community Foundation and United Way for COVID-19 Relief: find information here and find more information here.
  • AssistHer Emergency Relief Grant: A program offered by Texas Women’s University: find information here.
  • Alice: Hello Alice is offering $10,000 grants being distributed immediately to small business owners impacted by coronavirus, as part of our broader mission to ensure Business for All. In addition to funding, grant recipients will receive ongoing support from the Hello Alice community:

Resources for Veterans:

Resources for Restaurants/Food Industry:

The restaurant/food service industries have been pretty severely impacted. There are a lot of great resources in the works and Eater has done a great job of keeping up with them. You can continue to keep up with them here.

Texas Economic Development: 

Visit this web page for frequently updated information and resources regarding Coronavirus:

Click here to view Frequently Asked Questions (FAQs) Relating to COVID-19 for Texas Businesses and Community Economic Development Partners

Texas Comptroller’s Office:

These are challenging times for businesses all over the nation. The Texas Comptroller’s office knows that during periods of economic hardship, paying or remitting taxes and fees on time can feel like an extra burden when there’s so much uncertainty.

The Texas Comptroller’s office understands that virtually all taxpayers are doing their best to remain in compliance and be responsible in submitting the taxes they collected from their customers. With that in mind, The texas Comptroller’s office is here to offer assistance to those businesses that are struggling to pay the full amount of sales taxes they collected in February.

For businesses that find themselves in this situation, the Texas Comptroller’s office is offering assistance in the form of short-term payment agreements and, in most instances, waivers of penalties and interest.

We ask that you contact their Enforcement Hotline at 800-252-8880 to learn about your options for remaining in compliance and avoiding interest and late fees on taxes due.

In addition, the Texas Comptroller’s office has a variety of online tools for businesses seeking assistance. See their COVID-19 emergency response webpage for access to online tools, tutorials and other resources for tax services, and to establish 24/7 online account access with Webfile.

Texas Workforce Commission: 

The Texas Workforce Commission is offering options for both unemployment assistance as well as shared work plans. Unemployment assistance applies directly to employees who have been laid off, suspended, or have had hours cut and individuals will need to apply directly. Shared work plans are meant to be applied for by employers who have had to cut employee hours to help supplement payroll costs. You can find more information about unemployment assistance here and shared work plans here. TWC also has outlined more resources for employers here in regards to taxes, unemployment benefits, shared work, appeals, and sick/health prevention.