Establishes a disaster recovery loan program for small and micro-businesses in Texas.
The bill creates a disaster recovery loan program for small and micro-businesses in Texas. It establishes a dedicated account in the general revenue fund for small- and micro-business recovery. The program provides zero-interest loans to eligible small and micro-businesses through community development financial institutions. Loans can be used to cover payroll costs, including health care benefits. The program aims to expand access to capital for qualifying businesses to create jobs in the state.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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