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Coronavirus (COVID-19): Business Resources

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Health and government officials are working together to maintain the safety, security, and health of the American people. Small businesses are encouraged to do their part to keep their employees, customers, and themselves healthy.

The ASU SBDC is hoping for the best, but proactively preparing for challenges with regard to the developing Coronavirus situation. WE stand ready to deliver information and resources in many areas of business management. Most importantly, SBDC is preparing to deliver our traditional face to face business advising and training using electronic means if necessary. We are here and will continue to be here to support small businesses, especially during times of crisis.

View the ASU-SBDC Business Recovery Resources

Please select the titles below to expand the section and access additional information: 
  • EIDL - U.S. SBA Economic Injury Disaster Loan Program

    Economic Injury Disaster Loans and Loan Advance

    To apply for a COVID-19 Economic Injury Disaster Loan, click here.

    In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.

    The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid.

    To apply for a disaster loan unrelated to COVID-19, click here.

    Credit Requirements:

    • Credit History – Applicants must have a credit history acceptable to SBA.
    •  Repayment – Applicants must show the ability to repay the loan.
    • Collateral – Collateral is required for all EIDL loans over $25,000. SBA takes real estate as collateral when it is available. ( SBA will not decline a loan for lack of collateral, but SBA will require the borrower to pledge collateral that is available.)

    Interest Rates:
    The interest rate is determined by formulas set by law and is fixed for the life of the loan. The interest rate for this program is 3.75 percent.

    Loan Terms:
    The law authorizes loan terms up to a maximum of 30 years. SBA will determine an appropriate installment payment based on the
    financial condition of each borrower, which in turn will determine the loan term.

    Loan Amount Limit:
    The law limits EIDLs to $2,000,000 for alleviating economic injury caused by the disaster. The actual amount of each loan is limited to
    the economic injury determined by SBA, less business interruption insurance and other recoveries up to the administrative lending limit.
    SBA also considers potential contributions that are available from the business and/or its owner(s) or affiliates. If a business is a major
    source of employment, SBA has the authority to waive the $2,000,000 statutory limit.

    Loan Eligibility Restrictions: Noncompliance – Applicants who have not complied with the terms of previous SBA loans may not be eligible. This includes borrowers
    who did not maintain required flood insurance and/or hazard insurance on previous SBA loans.

    Link to the online application:

    For questions about or relating to an EIDL loan application please contact the SBA disaster assistance customer service center. Call 1-800-659-2955 or email

    Information updated 3.31.2020

  • PPP - Paycheck Protection Program

    SBA Paycheck Protection ProgramThe Paycheck Protection Program provides small businesses with zero-fee loans of up to $10 million to cover payroll and other operating expenses. Up to 8 weeks of payroll, mortgage interest, rent, and utility costs can be forgiven. Payments on principal and interest are deferred for one year. 

    How to Apply: 
    You can apply through your existing lender and/or banker. Most banks and credit unions are approved SBA PPP lenders. You should consult with your local lender as to whether it is participating in the program.

    When to Apply:

    • Small businesses and sole proprietorships can apply now
    • Independent contractors and self-employed individuals can begin to apply on April 10, 2020.
    • The SBA Submission process is open until June 30, 2020

    Please contact the ASU - SBDC for more information on the application process. You will apply for the loan directly through an SBA approved lender. 

    View more details directly from the U.S. SBA website:  

    Application and additional information: U.S. Department of the Treasury

    Paycheck Protection Forgiveness: Download this Excel sheet to calculate your potential for forgiveness.

    Information updated 4.7.2020  

  • Coronavirus Aid, Relief, and Economic Security (CARES) Act

    The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides relief for small businesses that have trouble covering payroll and operating expenses because of the COVID-19 pandemic. The new law creates a Small Business Administration (SBA) loan program, called the “Paycheck Protection Program” (PPP), that expands benefits and eligibility for SBA disaster loans, covers payments on existing SBA loans, and creates new tax credits to help cover the cost of paid leave and payroll.

    SBA Paycheck Protection Program
    The Paycheck Protection Program provides small businesses with zero-fee loans of up to $10 million to cover payroll and other operating expenses. Up to 8 weeks of payroll, mortgage interest, rent, and utility costs can be forgiven. Payments on principal and interest are deferred for one year. 

    SBA Economic Injury Disaster Loans
    The CARES Act creates a new emergency grant of $10,000 for small businesses that apply for an SBA economic injury disaster loan (EIDL). EIDLs are loans up to $2 million with interest rates of 3.75% for businesses and 2/75% for nonprofits, and principal and interest payments deferred up to 4 years. The EIDL loans may be used to pay for expenses that could have been met had the disaster not happened, including payroll and other operating expenses. The EIDL grant does not need to be repaid even if the applicant is denied an EIDL. A small business may apply for an EIDL grant and a Paycheck Protection loan. The EIDL grant will be subtracted from the amount of the Paycheck Protection loan that is forgivable.

    Debt Relief for New and Existing SBA Borrowers
    For small businesses that already have an SBA loan (such as a 7(a), 504, or microloan) or take one out within 6 months after the CARES Act is enacted, the SBA will pay all loan costs for borrowers, including principal, interest, and fees, for six-months. SBA borrowers may also seek an extension of the duration of their loan and delay certain reporting requirements.

    Relief for Small Business Government Contractors
    If you are a government contractor, there are a number of ways that Congress has provided relief and protection for your business. Agencies will be able to modify terms and conditions of a contract and to reimburse contractors at a billing rate of up to 40 hours per week of any paid leave, including sick leave. The contractors eligible are those whose employees or subcontractors cannot perform work on site and cannot telework due to federal facilities closing because of COVID-19. If you need additional assistance, please reach out to your local Small Business
    Development Center, Women’s Business Center, SCORE chapter, or SBA District Office. You should also work with your agency’s contracting officer, as well as the agency’s Office of Small and Disadvantaged Business Utilization (OSDBU).

    Employee Retention Tax Credit
    The CARES Act creates a refundable payroll tax credit for businesses, large and small, that retain their employees during the COVID-19 crisis. Employers are eligible if they have been fully or partially suspended as a result of a government order, or they experience a 50% reduction in quarterly receipts as a result of the crisis. For employers with 100 or fewer full-time employees, they may claim a credit for wages paid to all of their employees, up to $10,000 a person. For employers with more than 100 employees, they may claim a credit for those
    employees who are furloughed or face reduced hours as a result of the employer’s closure or economic hardship. The Department of the Treasury is authorized to advance payment of the employee retention tax credit. This tax credit is not available if the employer takes an SBA paycheck protection loan.

    Payroll Tax Delay
    The CARES Act allows employers to delay paying the employer-portion of payroll taxes through the end of 2020. The deferred amount is due in two installments—50% is due before December 31, 2021, and the other 50% is due before December 31, 2022. Deferral is not available if the employer takes an SBA paycheck protection loan.

    Advance Payment of Tax Credits for Paid Leave
    The CARES Act allows the Treasury to send advance payments of tax credits available to employers that are required to provide up to 12 weeks of coronavirus-related paid leave to their employees.

    Business Tax Relief
    The CARES Act provides other forms of tax relief for businesses, including loosening requirements for net operating losses, and limitations on business interest deductions. The CARES Act also permanently fixes the qualified improvement property (QIP) error in the 2017 tax law, so that QIP investments are entitled to 100% recovery over 15 years. Distillers are exempt from excise taxes on undenatured alcohol for the purpose of producing hand sanitizer.

    Delay for Single Employer Pension Plans
    Single employer pension plans are allowed to delay quarterly contributions for 2020 until the end of the year. Employers may also use 2019 funded status for the purposes of determining funding-based limits on plan benefits for the plan years that include 2020.

    Details provided by Office of Senator Brian Schatz 

    View more detail about the CARES Act provided by NASE (National Association For The Self Employed)  This guide includes frequently asked questions!

    Information Updated 3.31.2020

  • America’s SBDC Resources

    America’s SBDCs are working to help small businesses address the business challenges of the coronavirus disease 2019 (COVID-19) pandemic.

    View more information regarding OSHA, Facebook for Business, and a COVID-19 Resources for Business booklet was developed by the California SBDC for California small businesses, but it contains information that is useful for businesses throughout the USA.

    View more at America’s SBDC website

  • Financial Resources

    Below is a list of potential financial resources to assist with cash flow issues during this time:

    • Local Lenders:
      First, visit with your current loan provider or personal banker.

    • SBA Disaster Relief program:
      See the first section on this page for more detail and application.

    • CRF USA:
      Community Reinvestment Fund, USA works to address social and economic inequity through new financial solutions that help empower people, build sustainable communities and inspire systemic change.

    • People Fund:
      In addition to the normal financial options we offer for business owners (find a list of our loans here) we are providing free business coaching, disaster preparedness information and we can help you find resources you need. To take advantage of this help via Zoom meeting or phone call, please submit a request at

    • LiftFund:
      A Small Business Lender With A Social Impact

    • BCL of Texas Small Business COVID-19 Relief (CDFI)
      BCL of Texas has been front and center during multiple economic and disaster recoveries to help small businesses and local communities get back on their feet. BCL of Texas has the experience and partnerships to help small businesses weather the storm and connect to the resources you need for your small business. Contact: 214-688-7456 Dallas | 512-912-9884 Austin
      Apply at:
    • Tom Green County Revolving Loan Fund:
      Contact person: Albert Rodriguez email:

    • The Rural Business Revolving Loan Fund
      The Fund is self-perpetuating through loan repayments by borrowers where the revolving characteristic will allow it to serve as a long term loan source for start-up and expanding business in the future. The Fund is capitalized at $68,600 grant funding provided by the U. S. Department of Agriculture where $53,000 of in-kind contributions were provided from local units of government, economic development entities, chambers of commerce, industrial foundations and businesses (Regional Economic Development Council) in preparation of implementing a Revolving Loan Fund (RLF).

    • For the Rural Areas
      You should also consider discussing resources available in your specific area with your local EDC or Chamber of Commerce. 

  • Texas Workforce Commission - Resources and Relief programs

    The Shared Work program provides Texas employers with an alternative to layoffs. TWC developed this voluntary program to help Texas employers and employees withstand a slowdown in business.

    Shared Work allows employers to:

    • Supplement their employees’ wages lost because of reduced work hours with partial unemployment benefits.
    • Reduce normal weekly work hours for employees in an affected unit by at least 10 percent but not more than 40 percent; the reduction must affect at least 10 percent of the employees in that unit.

    Learn more by contacting TWC directly: 

    General information provided to employers from the TWC:

  • National Federation of Independent Business (NFIB)

    National Federation of Independent Business Resources:

    Webinar: How Small Businesses, Workers, and Workplaces Should Respond to COVID-19

    On Friday, March 13, NFIB hosted a webinar to discuss COVID-19 and the impact of small businesses. This webinar provided a critical, up-to-the-minute report on the situation from NFIB Senior Executive Counsel Beth Milito and NFIB Director of Research Holly Wade. They provided government updates on how to take precautions and handle presumptive cases in the workplace. Watch here.


    NFIB Study: Coronavirus Impact on Small Businesses

    The NFIB Research Center’s new survey on the current impact of Coronavirus on small businesses. NFIB will continue to survey small business owners to hear how it has affected them first-hand.

    NFIB Legal Resource: How Small Business Can Prepare for Coronavirus

    The NFIB Small Business Legal Center provided information on other employment laws owners should consider during this time including the Americans with Disabilities Act, the Family and Medical Leave Act, and the Occupational Safety and Health Act.

    See all resources provided by the NFIB
  • Newly Passed Families First Coronavirus Response Act

    President Trump signed a coronavirus relief package into law on Wednesday night (March 18th) that provides paid leave benefits and additional unemployment benefits for U.S. workers.

    There are six qualifying reasons for coverage under this bill. The National Law Review Describes them as follows:

    1. The employee is subject to a federal, state, or local quarantine or isolation order related to Covid-19;

    2. the employee has been advised by a health care provider to self-quarantine due to concerns related to Covid-19;

    3. the employee is experiencing symptoms of Covid-19 and seeking medical diagnosis;

    4. the employee is caring for an individual who is subject to a federal, state, or local quarantine order, or the individual has been advised to self-quarantine due to concerns related to Covid-19;

    5. the employee is caring for the employee’s son or daughter, if the child’s school or child care facility has been closed or the child’s care provider is unavailable due to Covid-19 precautions; or

    6. the employee is experiencing any other substantially similar condition specified by Health and Human Services in consultation with the Department of the Treasury and the Department of Labor.

    Fact Sheets

    Questions and Answers


  • U.S. Department of Labor

    The U.S. Department of Labor has resources to help workers and employers prepare for the COVID-19 virus (also known as novel coronavirus).

    Wages, Hours and Leave

    The Wage and Hour Division is providing information on common issues employers and workers face when responding to COVID-19, including the effects on wages and hours worked under the Fair Labor Standards Act and job-protected leave under the Family and Medical Leave Act.

    Unemployment Insurance Flexibilities

    NOTE:  Check with your state’s unemployment insurance program  regarding the rules in your state.

    The Employment and Training Administration announced new guidance outlining state flexibilities in administering their unemployment insurance programs to assist Americans affected by the COVID-19 outbreak.

    Under the guidance, federal law permits significant flexibility for states to amend their laws to provide unemployment insurance benefits in multiple scenarios related to COVID-19. For example, federal law allows states to pay benefits where:

    • An employer temporarily ceases operations due to COVID-19, preventing employees from coming to work;
    • An individual is quarantined with the expectation of returning to work after the quarantine is over; and
    • An individual leaves employment due to a risk of exposure or infection or to care for a family member.

    In addition, federal law does not require an employee to quit in order to receive benefits due to the impact of COVID-19.

    Learn how to file for unemployment insurance benefits.

  • IRS

    The IRS has established a special section focused on steps to help taxpayers, businesses and others affected by the coronavirus. This page will be updated as new information is available.  Visit: for more information about IRS related news. 

  • Texas Comptroller’s Office

    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. We’re thankful to those businesses that were able to remit state and local sales taxes they collected from customers in February on the March 20, 2020, due date. We understand that virtually all of our 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, our agency 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, our agency 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 our 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, we have a variety of online tools for businesses seeking assistance. See our 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.

  • Remote/Virtual Resources

    The following article showcases many tools and programs that can be utilized to convert to remote work situations: 

    Please contact an SBDC advisor if you need assistance accessing, installing, and utilizing any online tool. 

  • Information Technology - Avoiding Scams

    Avoid COVID-19 scams!
    Scammers are using the Small Business Administration’s (SBA) name to con small businesses and individuals during the COVID-19 crisis through phone calls, emails, text messages and letters.

    Please note:
    • If you are contacted by someone claiming to be from the SBA, suspect fraud.
    • Emails from SBA or other legitimate government agencies will always end in .gov.
    • There is no cost to apply for a COVID-19 Economic Injury Disaster Loan and SBA will never ask you to provide a credit card.
    • Do not release any private information (social security number, date of birth, etc.) or banking information in response to an unsolicited caller, letter, email, or text.
    • If you are in the process of applying for an SBA loan and receive email correspondence asking for PII, ensure that the referenced application number is consistent with your application number.
    • An SBA logo on an email or webpage does not guarantee the information is accurate or from the SBA.
    • Check for spelling and grammatical errors in an email and be wary of clicking on any links or attachments.
    • For help with applying for an Economic Injury Disaster Loan, call 800-659-2955 or email You can also use a text telephone (TTY) by calling 1-800-877-8339.
    • For inquiries regarding support for small businesses, send an email to
    • Visit the Small Business Cybersecurity site to learn more about small Business Cybersecurity tips, common threats, training, and best practices.
    • Visit the U.S. Department of Homeland Security’s Cyber Infrastructure site for small business resources.
    • Trust your instincts! If something seems too good to be true, then it probably is too good to be true.

    Below are some examples of the types of scams you should be on the lookout for:

    1. Websites that appear to be from organizations such as Johns Hopkins University, CDC (Centers for Disease Control), or the WHO (World Health Organization). These malicious websites can infect users to steal banking, credit card, and personal sensitive information.
    2. Emails that appear to be from organizations such as the CDC or the WHO. The scammers change emails to make them appear to come from these sources, but they actually contain malicious phishing links or dangerous attachments.
    3. Emails that ask for charity donations for studies, doctors, or victims that have been affected by the COVD-19 Coronavirus. Scammers often create fake charity emails after global disasters or health scares.
    4. Emails that claim to have a “new” or “updated” list of cases of Coronavirus in your area or new maps of infections. These emails could contain dangerous links and information designed to scare you into clicking on the link. We have also seen many examples of misinformation being spread via these methods as well, so keep checking your sources!
    5. Emails and websites claiming to help you work remotely. There are scammers even creating software that sounds useful but has malicious intent behind it.

    Remember to remain cautious! And always remember the following to protect yourself from scams using these methods:

    • Never click on links or download attachments from an email that you weren’t expecting. 
    • If you receive a suspicious email that appears to come from an official organization such as the WHO or CDC, report the email to your IT department or provider
    • If you want to make a charity donation, go to the charity website of your choice to submit your payment. Type the charity’s web address in your browser instead of clicking on any links in emails or other messages.
  • Online Training Courses

    No-Fee Online Training

    No-fee, online, easy to use, and available 24/7! Take advantage of our online training modules to improve your business acumen. There are over 35 modules to choose from. 

    Register for Online Training

  • CDC Resources & Prevention

    Also, please refer to the Center for Disease Control and Prevention website for up to date reports on COVID-19. Including a page dedicated to Guidance for businesses and employers.

    The following handouts can be disseminated to employees and hung in the workplace: 

Visit with an SBDC Advisor at no -cost to learn more about COVID-19 Resources

Business Resources for COVID-19

Contact Us:
Small Business Development Center

Phone: 325-942-2098
Fax: 325-942-2096

SBDC Facebook link Facebook

SBDC Twitter link Twitter

Physical Address:
69 North Chadbourne St.
(Old Coca Cola Administration Bldg.)
Mailing Address:
ASU Station #10910,
San Angelo, TX 76909-0910

Detail of PPP and EIDL programs

Learn more about the response to the COVID-19 from the Angelo State University Community on the Coronavirus Updates page.

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