COVID-19 Business Resources

For questions related to business resources or any of the programs outlined below, contact the City’s Economic Development Department at (940) 349-7776.

FEDERAL PROGRAMS & RESOURCES

• Coronavirus Aid, Relief, and Economic Security (CARES) Act
  The CARES Act included many programs and resources for small businesses and individuals who qualify for unemployment. Read a summary of the CARES Act and available programs here.
• Paycheck Protection Program
  The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses.
   
  Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.
   
  To read an overview of the program, CLICK HERE.
  If you are a lender, more information can be found HERE.
  If you are a borrower, more information can be found HERE.
  The application for borrowers can be found HERE.
   
  YOU MUST APPLY DIRECTLY WITH AN APPROVED BANK. CONTACT YOUR BANK TO SUBMIT YOUR APPLICATION OR DISCUSS OPTIONS.
   
  For a list of SBA-certified lenders in the area, CLICK HERE.
   
  For additional information, CLICK HERE.
   
• Economic Injury Disaster Loans & Grants
  Loans
  
  The Economic Injury Disaster Loan (EIDL) program provides working capital to small businesses and some private non-profits suffering substantial economic injury as a result of the Coronavirus (COVID-19). Texas businesses are eligible to apply starting March 20, 2020.
   
  These loans may be used to pay fixed debts, payroll, accounts payable, and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses without credit available elsewhere; businesses with credit available elsewhere are not eligible. The interest rate for non-profits is 2.75%. SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.
   
  The application for borrowers can be found HERE.
   
  YOU MUST APPLY DIRECTLY WITH THE SBA.
   
  For additional information, CLICK HERE.
  
  
  Grants
   
  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 grant of up to $10,000.
   
  This grant 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. This grant will not have to be repaid.
   
  Apply for the grant HERE.
  
  
  
  
  
   
• Small Business Debt Relief
  The Small Business Debt Relief Program provides immediate relief to small businesses with non-disaster SBA loans, in particular 7(a), 504, and microloans. Under it, SBA will cover all loan payments on these SBA loans, including principal, interest, and fees, for six months. This relief will also be available to new borrowers who take out loans within six months of the President signing the bill into law.
   
  If you have an existing SBA loan, you should contact your lender directly to discuss this program.
   
  View the FAQs for this program HERE.
   
  To learn more about how to apply, visit the SBA COVID 19 Resource page HERE.
   
• Small Business Tax Assistance
  Employee Retention Credit for Employers Subject to Closure or Experiencing Economic Hardship
  
  Businesses may eligible for a refundable payroll tax credit for 50 percent of wages paid by eligible employers to certain employees during the COVID-19 crisis. The credit is available to employers, including non-profits, whose operations have been fully or partially suspended as a result of a government order limiting commerce, travel or group meetings. The credit is also provided to employers who have experienced a greater than 50 percent reduction in quarterly receipts, measured on a year-over-year basis. Wages of employees who are furloughed or face reduced hours as a result of their employer’s closure or economic hardship are eligible for the credit. For employers with 100 or fewer full-time employees, all employee wages are eligible, regardless of whether an employee is furloughed. The credit is provided for wages and compensation, including health benefits, and is provided for the first $10,000 in wages and compensation paid by the employer to an eligible employee. Wages do not include those taken into account for purposes of the payroll credits for required paid sick leave or required paid family leave, nor for wages taken into account for the employer credit for paid family and medical leave (IRC sec. 45S).
   
  For additional information and FAQs, CLICK HERE.
   
  **The credit is not available to employers receiving assistance through the Paycheck Protection Program. The credit is provided through December 31, 2020.**
   
  Businesses should consult with their accountants or tax attorneys on how to implement this program.
  
  
  Delay of Payment of Employer Payroll Taxes
   
  This provision would allow taxpayers to defer paying the employer portion of certain payroll taxes through the end of 2020, with all 2020 deferred amounts due in two equal installments, one at the end of 2021, the other at the end of 2022. Payroll taxes that can be deferred include the employer portion of FICA taxes, the employer and employee representative portion of Railroad Retirement taxes (that are attributable to the employer FICA rate), and half of SECA tax liability.
   
  **Deferral is not provided to employers receiving assistance through the Paycheck Protection Program.**
   
  Businesses should consult with their accountants or tax attorneys on how to implement this program.
  
   
  
  
   
• U.S. Department of Treasury and Internal Revenue Service (IRS)
  The Department of Treasury and IRS are providing updates regarding changes, legislation, or regulations that may impact individuals and businesses. Businesses are encouraged to visit irs.gov/coronavirus or home.treasury.gov/coronavirus for the latest information.
• U.S. Department of Labor
  The U.S. Department of Labor has provided guidance on COVID-19 and how to prepare your workplace. 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. Visit dol.gov/coronavirus to learn more.
   

  Employer guidance

  The U.S. Department of Labor has provided guidance on COVID-19 and how to prepare your workplace. 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. Visit dol.gov/coronavirus to learn more.

State Resources

• Job Seekers
  Many businesses are seeking part time or temporary workers to assist with the COVID-19 response. TWC manages a comprehensive job board called Work In Texas. Job Seekers can view available jobs at WorkInTexas.com.
• Unemployment Insurance
  The CARES Act included numerous provisions to assist individuals experiencing furloughs, layoffs, or reduced pay/hours as a result of the COVID-19 pandemic. The Relief for Workers Affected by Coronavirus Act (RWACA) is designed to provide additional financial support for states and additional support for individuals through a weekly federal unemployment benefit in addition to any state benefits that an individual may be eligible for.
   
  The major provisions of the RWACA include:

  • A $600 weekly federal benefit for individuals eligible for unemployment.
  • An extension of the unemployment insurance eligibility period for 13 weeks.
  • An extension of unemployment insurance benefits to individuals who may not be eligible under state law or who has exhausted state unemployment benefits may still qualify for unemployment benefits under RWACA. Individuals in this category should work directly with the Texas Workforce Commission to understand how this impacts them.

   
  The Texas Workforce Commission (TWC) manages unemployment benefits in Texas. On March 17, 2020, Governor Abbott waived the normally required “waiting week” for unemployment benefits as well as the unemployment insurance work search requirements.
   
  TWC has posted information and is making regular updates regarding COVID-19 impacts at twc.texas.gov. Businesses and employees can contact TWC’s tele-center at (800) 939-6631 from 8 a.m. to 6 p.m., Monday through Friday, and 8 a.m. to 5 p.m. on Saturdays, or submit an application for unemployment benefits through the Unemployment Benefits Services online portal HERE.
  
  Having trouble filing an unemployment claim online? The Unemployment Benefit System online portal is available 24 hours a day but is experiencing a high volume of visitors. Lower volumes on the online portal are occurring between 10 p.m. and 8 a.m. You may want to try back during those hours to file your claim or check the status of your claim.
  
  Texas Workforce Commission Resource Handout for Claimants
  Texas Workforce Commission Resource Handout for Employers
   
• State of Texas Comptroller of Public Accounts
  The State Comptroller’s Office is offering assistance and short-term payment arrangements for tax payers. Please contact the Enforcement Hotline at (800) 252-8880 for assistance. For updates regarding the payment or remittance of taxes paid to the State Comptroller, visit the Comptroller’s COVID-19 emergency response webpage.
• Texas Alcoholic Beverage Commission
  Governor Abbott has issued a waiver to allow delivery and takeout of alcoholic beverages. The Texas Alcoholic Beverage Commission has issued guidance to for how to implement this waiver for businesses at tabc.state.tx.us/coronavirus.
• Governor’s Office
  The Governor’s Office is regularly providing updates to businesses. You can sign up for notices HERE.

Local Resources

• City of Denton
  If you are experiencing any issues with your business, need information about local disaster declarations, business restrictions, or assistance in finding resources (including assistance in moving your business to online platforms or connections to local banks), contact the City’s Economic Development department at (940) 349-7776. You can also visit the City’s COVID-19 information and resource page at www.cityofdenton.com/coronavirus.
• SBA/Small Business Development Centers
  The SBA Dallas/Fort Worth District Office and the local Small Business Development Center (SBDC) are here to help answer questions and explain the resources available to small businesses.
   
  Contact the Dallas/Fort Worth SBA office at: (817) 684-5500
   
  Contact the Denton SBDC at: (940) 498-6470
• Denton Chamber of Commerce
  The Denton Chamber of Commerce is assisting Denton businesses in staying connected and informed. Go to denton-chamber.org to view virtual events, connect with Chamber staff, and get free resources to support your business. The Chamber is also keeping a list of restaurants offering delivery and takeout options. View the list here. You do not need to be a member to access these resources.
• Denton Main Street Association
  Denton Main Street Association (DMSA) is assisting Downtown Denton businesses with adapting operations due to COVID-19. DMSA has a list of local businesses that have published adapted services, available here. DMSA also has free resources and information for small businesses. You do not need to be a member or be a Downtown business to use these resources. Visit dentonmainstreet.org to learn more.