COVID-19 - What You Need to Know TODAY April 10, 2020April 13, 2020
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Small Business Assistance Program Applications are NOW AVAILABLE! The Cedar Park City Council, Type A Corporation and Cedar Park Chamber of Commerce all approved a $200,000 program to assist small businesses in response to the COVID-19 Pandemic.
Mayor Corbin Van Arsdale said, “Our small businesses here in Cedar Park have been doing a tremendous job during this tough time. Small business and the entrepreneurial spirit are the lifeblood of Cedar Park. They represent the very best of who we are as a community. During these past few weeks, we’ve seen many of these business owners rise to the occasion – not only helping one another stay afloat but providing essential services to our community. We couldn’t get through this without them. We are excited to be able to help these small businesses, for all that they have done for our community.”
We are proud to join forces with the City to offer this Small Business Assistance Program, help our small businesses weather this unprecedented challenge and provide a resource to help them return to their normal operations. To see what’s involved in applying, CLICK HERE.
FEDERAL & STATE UPDATES FOR BUSINESS
Yesterday, the Department of Labor (DOL) released the new unemployment insurance claims for the week ending April 4th. As anticipated, they remain severely elevated. The DOL reports that 6.6 million filed for unemployment last week. This week’s read is slightly down from the almost 6.9 million that filed last week, but it is still almost 10 times higher than the previous weekly high hit back in 1982.
Texas State Comptroller states that Texas is already in a recession. With oil prices deflated and most Texans sheltered at home, the state’s economy has all but certainly plunged into a recession. The comptroller had been warning of a slowdown, but he remarks seemed to be his first public admission that the state is now in the throes of it.
WILLIAMSON COUNTY UPDATES
Williamson County and Cities Health District (WCCHD) announced six new positive COVID-19 Cases in Williamson County on Thursday, bringing the total in the county to 103. So far, 49 people have recovered in Williamson County, and there have been four deaths due to this virus.
CITY OF CEDAR PARK
The Cedar Park City Council adopted a Resolution authorizing a program to provide small businesses located within the City of Cedar Park City limits financial assistance in response to the COVID-19 pandemic (“Program”). Council added an amendment prohibiting the award of Program Funds to any Councilmembers, Type A Board members, Chamber Board members, Chamber staff and Program Committee members, and any of their family members, as defined by Texas Local Government Code Chapter 176.
The Resolution authorizes an agreement in a total amount of $200,000. It is funded by Economic Development (Type 4A) sales tax funds. The Cedar Park Chamber of Commerce will administer the Program, providing up to $10,000 in financial assistance for each qualifying Cedar Park small business. The Program will provide a total amount up to $200,000 for those eligible Cedar Park businesses. To learn more CLICK HERE.
COVID-19 (CORONAVIRUS) EMERGENCY LOANS
To learn more about SBA Loans - The U.S. Chamber has several guides available to you to help guide you through the decision-making process of your next steps. Please take a moment to look these over as you continue to make these tough decisions. All of these links and many more are available on the Chamber Website.
SURVEY CLOSES TODAY! Please take this 3-minute COVID-19 LOCAL Business Survey. CLICK HERE!
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