According to Greater Boerne Chamber of Commerce Ambassador Jason Madero of New York Life, life insurance premiums may be waived for three months upon request for policy holders that have lost their jobs due to the COVID-19. Also, for clients with annuity accounts that have been impacted by this pandemic, penalties may be waived for early partial withdrawals of up to $100,000.
The U.S. Chamber of Commerce's Save Small Business Fund is a grant-making initiative led by the U.S. Chamber of Commerce Foundation. The fund will offer $5,000 grants for employers across the country. They also developed a Coronavirus Small Business Guide. For resources and webinars, advocacy, polling, and a call to action, go to: https://www.uschamber.com/save-small-business.
Pedernales Electric Cooperative (PEC) advocates for our business community. They are closely monitoring the status of funds available to different entities and shared some resources that may help. PEC personnel and all of their team in the Public Affairs department will assist to serve you and our community! Stay up to date with PEC news here: https://www.pec.coop/about-us/media/.
The Public Safety Office will provide $38 million in federal funds to local governmental entities to “prevent, prepare for, and respond to the Coronavirus.” For details: https://gov.texas.gov/news/post/governor-abbott-announces-38-million-in-federal-covid-19-emergency-funding-for-local-governments.
SCORE SAN ANTONIO shared financial assistance options. Enhanced Debt Relief is available in SBA’s other business loan programs to help small businesses overcome the challenges created by this health crisis. SBA provides local assistance via 68 district offices and a nationwide network of resource partners.
Facebook is offering $100 million in grants to support over 30,000 small businesses in over 30 countries.
The UTSA Institute for Economic Development launched the Small Business Development Center COVID-19 Business Recovery Accelerator (SBDC COBRA) to help small businesses weather the financial hardships caused by the Coronavirus pandemic. It will also assess the applications of businesses that have been denied emergency funding and help them reapply. To reboot businesses and help them recover from the damage of the pandemic, the accelerator will provide confidential, no-cost consulting in finance, human resources, operations, marketing, and business and strategic planning with the goal of winning back and finding new customers. Email: businessrecovery@utsa.edu or access online resources at txsbdc.org/businessrecovery.