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 the small- and micro-business recovery fund. The program provides zero-interest loans to eligible small businesses and micro-businesses through participating community development financial institutions. These loans can be used to cover payroll costs, including health care benefits. The bill also sets criteria for eligibility, including business size, location, and financial standing.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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