Billions in Covid Relief Help Houston Area Businesses Stay Afloat (June 14, 2021)

Summary

SBA Release 21-09, dated June 14, 2021, from the Houston District Office, says over $22 billion in PPP aid went to businesses in its 32-county area across more than 336,000 approved loans in the two funding rounds. In Texas, it says over 320,000 businesses received EIDL loans totaling more than $17 billion, with Targeted EIDL Advances of $88 million and Supplemental Targeted Advances of $29 million. The release says over 1,700 food businesses received Restaurant Revitalization Fund awards of more than $400 million in the Houston District. La Calle Tacos CEO Ramon Soriano is quoted saying the funds let the restaurant bring all its staff back. The office reports webinars reaching approximately 125,000 people, about 100 of them in languages other than English.

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NEWS RELEASE
HOUSTON DISTRICT OFFICE
Release Date: June 14, 2021 Contact: Abigail.gonzalez@sba.gov
Release Number: 21-09 Follow us on Twitter, Facebook, Blogs & Instagram

Billions in Covid Relief Help Houston Area Businesses Stay Afloat
HOUSTON – Following an immense outreach effort by the Houston District Office team,
District Director Tim Jeffcoat announced the results of over a year and a half of small business
support induced by the Covid-19 pandemic. Over $22 billion in Paycheck Protection Program
(PPP) aid was distributed to businesses in Houston, accounting for more than 336,000
approved loans during the two rounds of funding in 2020 and 2021. Of the District’s 32-county
coverage area, Harris, Fort Bend, Montgomery, Brazoria, and Jefferson counties received the
largest number of PPP loans. In Texas, over 320,000 businesses received Economic Injury
Disaster Loans (EIDL), totaling more than $17 billion. Targeted EIDL Advances totaled $88
million, and the Supplemental Targeted Advance totaled $29 million in the state. The
Economic Injury Disaster Loan program remains open until December 31, 2021.

Like many local businesses, La Calle Tacos in Downtown Houston utilized the Paycheck
Protection Program to stay afloat. “Funds came in just in time for us to be able to stay in
business. We were able to immediately bring all our staff back”, said Ramon Soriano, CEO of
La Calle Tacos, “we are looking forward to continuing with our growth plan and generating
jobs and revenues this year”.

In addition to PPP and EIDL, funds from the Shuttered Venue Operators Grant (SVOG) and the
Restaurant Revitalization Fund (RRF) are currently being disbursed to eligible businesses.
Preliminary data indicates that over 1,700 food businesses benefitted from awards under the
Restaurant Revitalization Fund for more than $400 million in the Houston District.
Restaurants, caterers, and bars led the way with the most funding.

Since March of 2020, the 14-person staff in the Houston District Office has hosted 1,276
webinars, reaching approximately 125,000 people across the region. About 100 of those
webinars were in languages other than English. With an average of 20 webinars per week, the
team was able to educate businesses, lenders, and partners about topics ranging from Covid-
related assistance to federal contracting and access to capital. The agency’s mission was
further bolstered by the SBA Resource Partner network, which includes the University of
Houston Small Business Development Center, SCORE Houston, the WBEA-Women’s Business
Center, and the Greater Houston Women’s Chamber of Commerce Women’s Business Center.
Helpful links:
www.sba.gov/coronavirus
FAQ About PPP Loan Forgiveness (sba.gov)
FAQ Regarding COVID-19 EIDL (sba.gov)
FAQ Regarding Shuttered Venue Operators Grant (SVOG) (sba.gov)
Restaurant Revitalization Funding Program Guide (sba.gov)
COVID-19 Recovery Information in Other Languages (sba.gov)

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About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a
reality. As the only go-to resource and voice for small businesses backed by the strength of
the federal government, the SBA empowers entrepreneurs and small business owners with
the resources and support they need to start, grow or expand their businesses, or recover
from a declared disaster. It delivers services through an extensive network of SBA field offices
and partnerships with public and private organizations. To learn more, visit www.sba.gov.

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Our copy: 21-09_HDO_COVID_Support.pdf
Original: www.sba.gov