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Cornavirus Updates & Business Resources
Message from SCIF President Rose Benavidez
During the last year the SCIF spent months formulating a strategic plan of economic growth that included a strong retention and recruitment plan that has already yielded commitments from national retailers and various others new businesses to locate in our community. These joint efforts have positioned Starr County well for what is to come, but all the planning in the world did not prepare us for a global pandemic that has forced us to adapt to a new reality.
We are learning with you how to get where we want and need to be. We are working with you to sustain our local businesses and remind everyone that we can start by shopping locally. We are here to support you and ready to offer the same level of service you have come to expect from us. We will continue to work with our leadership for federal funding advocacy, help coordinate emergency and recovery planning, assist our small businesses' in securing and navigating federal economic assistance and expand our recruitment efforts to prepare for the economic growth we have spent years building.
The road ahead will be difficult, but we will emerge from our shared challenges and our community will thrive again. We are in this together and we thank you for your trust as we steer into a better tomorrow.
Below you will find the link to a brief survey that will allow the SCIF to collect data on the impact this crisis is having on business revenue and employment. Please take a moment to complete it, so we can share the results with State and Federal partners and know how to better assist you. Last day to respond is 5:00pm on April 24, 2020.
President Starr County Industrial Foundation
Paycheck Protection Program- This loan program provides loan forgiveness for retaining employees by temporarily expanding the traditional SBA 7(a) loan program.
Disaster Loan Emergency Advance (EIDL) - This loan advance will provide up to $10,000 of economic relief to businesses that are currently experiencing temporary difficulties.
Express Bridge Loans - Enables small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly.
SBA Debt Relief - The SBA is providing a financial reprieve to small businesses during the COVID-19 pandemic.