FOR IMMEDIATE RELEASE
Judy Wilhelm, Small Business Development Center @ TTU
SMALL BUSINESS COVID-19 RESOURCES From Northwest Texas Small Business Development Center (NWT SBDC) @ Texas Tech University coordinates the Hub City Small Business Triage 1-800 number to help!
Information for Economic Injury Disaster Loans through Small Business Administration (SBA)
LUBBOCK, TX (March 30, 2020) – Texas Tech University’s Northwest Texas Small Business Development Center (SBDC) is partnering with Texas Tech University Innovation Hub, Jerry S. Rawls College of Business and the City of Lubbock to support the area’s small businesses.
“A continued flow of information to businesses is overwhelming,” states Judy Wilhelm, Executive Director of SBDC. Beginning April 2, 2020, the partners will set up a Hub City Small Business Triage 1-800 number to answer questions and provide our citizens with support in their time of need. The hotline number is the number is 1-800-992-7232.
Margaret Williams, dean Jerry S. Rawls College of Business, “I appreciate the students, staff, and faculty who have jumped in to assist with this collaboration. We all feel the need to share our expertise to help the local business community, and students do not often have the opportunity to learn on the front lines as they will here.”
Kimberly Gramm, associate vice president of innovation and entrepreneurship, “the information changes daily, the partners know small businesses need help to prepare for applying to the various disaster relief programs from the Federal government.” In an effort to help our local small businesses, faculty, staff, and students will assist SBDC answering questions and providing the support on the 1-800 hotline as well as provide up-to-date information at an accompanying website, Hub City Small Business Triage, at www.hcsbt.org.
Dan Pope, Mayor of Lubbock, “It is incredibly important for small businesses to have the preparation needed to take advantage of the programs being offered by the government as soon as possible. The triage hotline will prep our businesses and arm them with answers and a bit of West Texas kindness, so they know they are not alone.”
The SBDC, Innovation Hub, and Rawls College of Business have experts to support small business owners and help direct them based on eligibility and needs.
The newly passed Coronavirus Aid, Relief, and Economic Security (CARES) Act can provide to qualifying businesses capital to cover the cost of retaining employees through the Paycheck Protection Program as well as The Small Business Debt Relief Program to help with keeping up with payments on current or potential SBA loan(s).
NWT SBDC has information on their website https://www.lubbocksbdc.org/ about Economic Injury Disaster Loans (EIDL) and the CARES Act through the Small Business Administration (SBA).
The U.S. Small Business Administration (SBA) provides low-interest, long-term economic injury disaster LOANS to small businesses, small agricultural cooperatives, and most private non-profit organizations to help meet financial obligations and operating expenses that could have been met had the disaster not occurred. EIDLs provide the necessary working capital to help small business survive until normal operations resume after a disaster.
About the Small Business Development Centers
America’s SBDC represents America’s nationwide network of Small Business Development Centers (SBDCs) – the most comprehensive small business assistance network in the United States and its territories.
SBDCs are hosted by leading universities, colleges, state economic development agencies and private partners, and funded in part by the United States Congress through a partnership with the U.S. Small Business Administration.
There are nearly 1,000 local centers available to provide no-cost business consulting and low-cost training to new and existing businesses.
Small business owners and aspiring entrepreneurs can contact their local SBDCs for FREE phone business consulting and at-cost training on a variety of topics. Learn more about how SBDCs are helping local businesses start, grow and thrive at https://americassbdc.org/about-us/