Business Resources for COVID-19

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The City of La Grange’s Office of Community Development is committed to providing you information and resources to assist you during this current unprecedented situation. As we weather the coronavirus pandemic, we know both individuals and businesses are seeing economic impacts. We want to let you know that we're here, we're open, and we're ready to support you.

LGEDC UPDATE
January 25, 2021

Shuttered Venue Grant Program: The Shuttered Venue Operators (SVO) Grant program was established by The Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act, signed into law on December 27, 2020. The program includes $15 billion in grants to shuttered venues, to be administered by the Small Business Administration’s Office of Disaster Assistance. Eligible applicants may qualify for SVO Grants equal to 45% of their gross earned revenue, with the maximum amount available for a single grant award of $10 million. $2 billion is reserved for eligible applications with up to 50 full-time employees. Eligible entities include:

  • Live venue operators or promoters
  • Theatrical producers
  • Live performing arts organization operators
  • Relevant museum operators, zoos and aquariums who meet specific criteria
  • Motion picture theater operators
  • Talent representatives

Click here for more information.

At Your Side Small Business Grant Program: As small businesses continue to weather the challenges of the pandemic, Main Street America has teamed up with Brother International on a grant program to provide support. The “At Your Side” Small Business Grant Program will provide funding to brick-and-mortar small businesses in designated Main Street districts as they work to adapt to COVID-19 and prepare for the next phases of reopening across the country, while also helping to revitalize and strengthen older and historic commercial corridors. Applications will open 11 am on Thursday, January 21 and continue to be accepted through Thursday, January 28 at 6:59pm. Grants of $5,000 to $10,000 will be awarded on a competitive basis. Applicants must operate in a “brick and mortar” storefront located in an Accredited or Affiliate Main Street America community. In La Grange, businesses in the downtown Main Street district qualify. Click here for small business eligibility requirements, judging criteria, and a preview of the application.

PPP Loans Round 2 Now Available: The latest CVOID relief bill has provided funds for a second round of PPP loans. In a nutshell, you may be eligible for a forgivable PPP loan in this round whether you took advantage of the first go around or not. If this will be your first time to apply and receive a PPP loan, this will be considered your first draw. If you applied for and received a PPP loan during the spring, summer or fall of 2020, this will be your second draw. All of our local banks are participating and currently taking applications. For all the information on this forgivable loan program, click here.

Key Updates Include:

  • Hotels, Restaurants and Bars can now receive a loan equal to 3.5x their monthly payroll. Other small businesses and non-profits can receive 2.5x monthly payroll;
  • PPP borrowers can set their PPP loan’s covered period to be any length between 8 and 24 weeks to best meet their business needs;
  • PPP loans will cover additional expenses, including operations expenditures, property damage costs, supplier costs, and worker protection expenditures;
  • The Program’s eligibility is expanded to include 501(c)(6)s, housing cooperatives, destination marketing organizations, among other types of organizations; 
  • The PPP provides greater flexibility for seasonal employees;
  • Certain existing PPP borrowers can request to modify their First Draw PPP Loan amount; and
  • Certain existing PPP borrowers are now eligible to apply for a Second Draw PPP Loan.

A borrower is generally eligible for a Second Draw PPP Loan if the borrower:

  • Previously received a First Draw PPP Loan and will or has used the full amount only for authorized uses;
  • Has no more than 300 employees; and
  • Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020.

EIDL Loans Application Deadline Extended: The SBA has extended the deadline to apply to EIDL loans for COVID to December 31, 2021 with the new COVID bill that passed in December. The grant/advance portion of the program is no longer available as they didn’t allot any additional funds for this part. However, small businesses and non-profits can still apply for the EIDL loan using a streamlined online application. The interest rate is 3.75 % for small businesses and 2.75% for non-profits. Also, payments can be deferred for up to 1 year. Click here for all the details and application.

New Program Available for Women-Owned Businesses: SBA has announced Ascent, an interactive digital platform packed with resources women business owners need to set, and achieve, their business goals. Ascent is designed for the “missing middle” — growth-oriented women entrepreneurs who are beyond the start-up phase and already generating revenue yet looking to grow and scale. Most learning resources for business owners focus on either start-ups or mature businesses. Ascent is here to change that! During these challenging times, SBA’s Ascent can also help you elevate your business with research-backed tips and strategies. Within Ascent, you can examine both internal (strengths and weaknesses) and external factors (opportunities and threats) that may have arisen because of COVID-19 to help you set up a comprehensive recovery strategy. And Ascent is a resource you can turn to again and again, as your business grows and your needs change. Click here for more information and to join Ascent today!

Top Business Trends for 2021: For small businesses across America, 2020 has been one of the most challenging years in history. Despite the coronavirus pandemic, small business owners have been resilient, pivoting, and adapting their business models to navigate continually changing conditions. With the new year on the horizon, there are potential new opportunities to take advantage of and ways to adapt to challenges you may face. Here are a few business trends that are likely to dominate in 2021, along with tips on how to position your business for growth. Click here to learn more.

VISA Business and Economic Insight Reports: VISA’s latest US Economic Outlook – Click here to download the report. Also, VISA says that consumers show optimism about the future, but remain bogged down by the present. Click here to learn more

Free Small Business Tools and Resources through SCORE:

What is SCORE?
For over 50 years, SCORE has served as America’s premier source of free business mentoring and education. As a resource partner of the U.S. Small Business Administration (SBA), SCORE has helped more than 11 million entrepreneurs through mentoring, workshops and educational resources since 1964.

SCORE Locations Near La Grange:
SCORE Austin 
and SCORE Houston (Katy, TX)

SCORE Small Business Reopening Toolkit:
 
Coronavirus Small Business Reopening Checklist, a complete toolkit to ensure that small business owners can reopen successfully while keeping employees and customers safe.

SCORE Small Business Resilience Hub: 
Disasters and economic downturns bring unprecedented challenges. SCORE Small Business Resilience Hub offers training, resources, and remote mentoring to help your small business adapt, succeed, and thrive.

Upcoming SCORE Webinars and More: SCORE offers FREE live and recorded webinars & interactive courses on demand on small business topics. Click here for more information and to register for upcoming events.

NATIONAL RESOURCES

CENTER FOR DISEASE CONTROL AND PREVENTION

BUSINESSES COMMUNITY ORGANIZATIONS COMMUNITY EVENTS

SMALL BUSINESS ADMINISTRATION

GUIDELINES FOR SMALL BUSINESS

FEDERAL GOVERNMENT ASSISTANCE
For more resources and learn how the federal government is responding to COVID-19.

VISIT USA.GOV

U.S. DEPARTMENT OF LABOR
The U.S. Department of Labor provides information on common issues employers and employees face when responding to influenza, pandemics, or other public health emergencies.

EMPLOYMENT RESOURCES PREPARING WORKPLACES



STATE AND LOCAL RESOURCES

OFFICE OF THE GOVERNOR
Visit their website for a comprehensive list of resources and important COVID-19 updates.

VISIT

TEXAS WORKFORCE COMMISSION
At the Texas Workforce Commission (TWC), the health and well-being of our employers, employees, and communities is our top priority. We understand the concern and uncertainty you may be experiencing surrounding the coronavirus (COVID-19) and are committed to being responsive to the needs of our customers as the situation evolves.

VISIT

TEXAS DEPARTMENT OF INSURANCE
Visit their website for a comprehensive list of resources and important COVID-19 updates
.

VISIT

WORKFORCE SOLUTIONS - RURAL CAPITAL AREA
Workforce Solutions Rural Capital Area is available to assist with outplacement services or layoff aversion strategies. They offer a no-cost service to re-connect affected workers to new employment and provide information on Unemployment Benefits from the Texas Workforce Commission (TWC).

VISIT 

BCL of TEXAS
BCL of Texas is a 501(c)(3) nonprofit economic development organization providing lending, homeownership, entrepreneurship, and community development programs to fulfill our mission of Building Strong Communities across Texas.

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TEXAS STATE - SMALL BUSINESS DEVELOPMENT CENTER NETWORK
The Texas State University SBDC provides information on resources for businesses imapcted by COVID-19.

OTHER RESOURCES

MONITORING COVID-19

STATE OF TEXAS
Governor Abbot updates State response to coronavirus. 

VISIT

FAYETTE COUNTY
County information and up to date information orders in response to COVID-19.

VISIT

TEXAS DEPARTMENT OF STATE HEALTH SERVICES
DSHS is monitoring the coronavirus pandemic. For prevention tips, symptoms, case counts, traveler information, and healthcare provider resources visit the DSHS website. 

VISIT

Please contact the Community Development office at 979-968-3017 if you have any questions or if there is anything we can do to help.