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How Dallas Metropolitan SBDC Can Help

Learn About the SBA COVID-19 Economic Injury Assistance Program

Coronavirus (COVID-19) SBA Disaster Assistance in Response to the Coronavirus

The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).

Read More HERE

The Dallas Metropolitan SBDC can assist you!

Be a Better Business Owner with SBDC Training

The SBDC offers free and low cost workshops, seminars and courses geared to the needs of small businesses. Utilizing qualified professionals recruited from the business world, the SBDC provides hands on, expert instruction on various business topics, such as introductory topics for those planning to start a business to more advanced topics aimed at the experienced small business owner.

A ‘shelter-in-place’ order has been issued by Dallas County Judge Clay Jenkins and is currently in effect for all of Dallas County through April 30.

The Bill J Priest campus of DCCCD, our Dallas Metropolitan SBDC physical offices, and all DCCCD facilities, are closed.

The Dallas Metropolitan SBDC is OPEN and still assisting clients and small businesses of our community remotely.

For immediate assistance:

New Clients, please complete our Client Needs Assessment on our Home Page and a staff member will get with you shortly.
Existing Clients, please email your Business Advisor directly.
General questions, please email us using the web contact form HERE.

Dallas Metropolitan SBDC is committed to assisting small businesses through this difficult time. Please let us know what we can do.

You can also call our main number, (214) 860-5848, and Catherine Lee, our Administrative Assistant, will return your call as soon as possible.

Consulting

The Dallas Metropolitan Small Business Development Center in partnership with the U.S. Small Business Administration and the Dallas County Community College District, offers free and confidential one-on-one counseling for existing and start up businesses in Dallas County. Learn more about our services and necessary steps to schedule an appointment.

Training

The Dallas Metropolitan SBDC offers training on a variety of business topics. Visit our training calendar for upcoming seminars and events.

Resources

View links to helpful websites, download templates and worksheets, and learn more about our resource partners.
 

SBA Economic Injury Disaster Loans

(4-8-20 Update)

The SBA Economic Injury Disaster Loans (EIDL) for small businesses is live and operational. All SBA Business owners should apply online at the Disaster Loan Application Portal at https://covid19relief.sba.gov/#/ .

 

 

SBA COVID DISASTER LOANS

There are two primary SBA programs underway for small business: the Economic Injury Disaster Loan (EIDL) and the associated Loan Advance; and the Paycheck Protection Plan loan. More information on criteria for qualifying businesses is HERE (https://www.sba.gov/page/disaster-loan-applications)

Summary:

Economic Injury Disaster Loan (EIDL)

  • The EIDL is a low-cost loan to pay expenses.
  • Interest rate is 3.75%.
  • Term is 30 years.
  • These expenses can be rent, utilities, payroll (employees or contractors), insurance, AP, etc.
  • The SBA is administering this loan directly.
  • Application is at http://covid19relief.sba.gov

EIDL Loan Advance ‘grant’

The EIDL Loan Advance is the last question on the EIDL application. It is an up-to-$10,000 advance that will be dispersed in days, not weeks, AND DOES NOT HAVE TO BE PAID BACK. it is akin to a stimulus check for small business.

Paycheck Protection Plan Loan (PPP)

The PPP loans are administered through banks.

  • It will fund 2.5x monthly payroll.
  • The rate is 1%.
  • The term is two years.
  • After 8 weeks, the loan WILL BE FORGIVEN, *IF* you have maintained the same number of full-time equivalent employees and pay rates.
  • Applications are made through individual bank portals.

Find a participating lender HERE (https://www.sba.gov/paycheckprotection/find). Each bank sets its own policies on priorities of who to serve

The Dallas Metropolitan SBDC is available to help.

READ MORE HERE