As of January 19, the Small Business Administration's Paycheck Protection Program (PPP) is open to all participating lenders. Borrowers who did not receive a loan before August 8, 2020 can apply for a First Draw PPP Loan. Eligible small businesses that previously received a First Draw PPP Loan and have used the full amount for authorized uses can apply for a maximum of $2 million in a Second Draw PPP Loan. Eligible businesses must have 300 or fewer employees and demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020. The PPP will remain open for First and Second Draw loans until March 31, 2021 or until Congressionally appropriated funding is exhausted.

On January 27, the Governor’s Small Business Team will host a webinar for Texas small business owners to provide an update on the Paycheck Protection Program.

The Rural Community Development Initiative (RCDI) provides funding to help public bodies or nonprofit housing and community development organizations support housing, community facilities, and community and economic development projects in rural areas. Funds can be used for providing technical assistance to sub-grantees on strategic plan development, accessing alternative funding sources, and creating training tools, such as reference guides, videos, or workbooks. The minimum grant award is $50,000, and the maximum grant award is $250,000, with a matching fund requirement equal to the amount of the grant. Applications are due March 22.  

The Houston-Galveston region's unemployment rate dropped from 8.9% in November to 8.0% in December 2020. The unemployment rate is more than double the rate for the same month in 2019 (3.6%). Employers in the Houston-Galveston region added 10,600 jobs in December 2020, but 276,405 people remain out of work and looking for a job. According to economist Parker Harvey, “we have seen steady growth throughout 2020 in the warehousing subsector, which is likely driven by the move to more online shopping.” Read the full report from Workforce Solutions.

The National Environmental Education Foundation (NEEF) allocated $128,000 in grant funding to support public lands that have been impacted by increased use during the COVID-19 pandemic through the Restoration & Resilience COVID Recovery Fund. Local governments, non-profit organizations, and educational institutions can apply for up to $2,500 to help mobilize volunteer networks, pay for maintenance projects or accessibility improvements, or conserve public lands. Applicants must clearly describe the impact of the COVID-19 pandemic on the public land site. NEEF is accepting applications until June 2021, with application deadlines on February 1, April 1, and June 1.

The Community Development Partnership Program (CDPP) from the Lower Colorado River Authority is accepting applications for community improvement capital projects. Organizations in all or part of Austin, Colorado, Harris, Matagorda, Waller, and Wharton counties in the H-GAC region are eligible to apply. CDPP grants are awarded twice a year for capital projects for volunteer fire departments, emergency responders, cities and counties, schools, libraries, civic groups, museums, and other nonprofit organizations. The projects must benefit or be available to an entire community and must improve the value of a capital asset by building, renovating, or purchasing equipment. The application deadline is January 31. Learn more. 

Small Business Administration Launches COVID-19 Small Business Funding Portal 

The Small Business Administration provides a free list of thousands of private and public funding sources at the national, state, regional, and local levels designed to support small businesses in accessing capital to recover from COVID-19. The landing page displays programs that are available nationally; visitors can enter a ZIP code to see location-specific funding options. Explore the portal. 

Small Business Financing Opportunities through H-GALDC 

Serving as H-GAC’s small business financing arm, the Houston-Galveston Area Local Development Corporation (H-GALDC) is able to help new or established small businesses access capital to purchase and develop real estate. With interest rates at all-time lows, now may be the time to move your business from a lease to a mortgage. H-GALDC also leverages funding from the Small Business Administration and the Economic Development Administration to offer a variety of loan products. Loans can range from $25,000 for working capital to over $5,000,000 for the purchase of land and new construction. For more information about H-GALDC and its resources, visit hgaldc.com or email [email protected]. 

Rural Small Business Grants Open January 26 

On January 26, the Local Initiatives Support Corporation will open another round of the Rural Relief Small Business grant program for small businesses in rural communities facing immediate financial pressure due to COVID-19. Rural communities are defined as having a population of 50,000 or fewer. Applicants can be awarded between $5,000 and $20,000 for expenses including rent and utilities, payroll, debt payments, and other immediate operational costs. The application deadline is February 2. 

The U.S. Department of Agriculture’s COVID-19 Federal Rural Resource Guide organizes funding opportunities identified in the CARES Act and other federal resources that can help support rural America. 

Community Facilities Direct Loan & Grant Program* (Ongoing) 

*Rural communities may apply to receive targeted technical assistance from the Council of Development Finance Agencies Community Facilities Technical Assistance Program. Eligible communities must have a population of no more than 20,000 and have recently experienced a natural disaster.

Rural Microentrepreneur Assistance Program (Ongoing)  

Texas Community Development Block Grant Programs (May 3, 2021)

For non-entitlement units of general local government, the Community Development Fund and Downtown Revitalization Program can finance public infrastructure, housing rehabilitation, and numerous other activities.

Business & Industry CARES Act Guaranteed Loan Program (September 15, 2021)

Public Works and Economic Adjustment Assistance (Ongoing)

January 26, 29, February 4, 9, 16 | Fire Prevention and Safety (FP&S) Grants Webinar Series | Federal Emergency Management Agency (FEMA) 

January 26 | NTIA’s Broadband Leaders Programs Overview | U.S. Department of Housing and Urban Development (HUD)

January 27 | Information on the New Round of PPP Funding | Office of the Governor 

January 28 | Take It From Us: Using PPP Loans for 501(c)(6) Organizations | International Economic Development Council (IEDC)

January 28 | USDA-Rural Development Programs and Funds | Federal Emergency Management Agency (FEMA)   

January 29, February 4 | State Revolving Fund (SRF) Informational Webinars | Texas Water Development Board (TWDB)

February 1 | The Minority Woman Entrepreneur: The Economic Gender Gap | International Economic Development Council (IEDC)

February 3 | 10 Ready-Made Tips You Can Use to Prepare for Disaster | Federal Emergency Management Agency (FEMA)  

February 9 | FY 2021 Strategic Economic and Community Development (SECD) Funding Opportunity | U.S. Department of Agriculture (USDA)

February 9 | Restoring Local Economies with Federal Partners | Council of Development Finance Agencies (CDFA)

February 16 | Rural Broadband and Telehealth Financing | Council of Development Finance Agencies (CDFA)

February 17 | Data as the Foundation for Broadband Planning | National Telecommunications and Information Administration (NTIA)

Visit the GCEDD website for information and links to local, regional, and partner organizations that have additional resources and information on economic recovery. A select list is presented below.