Small Business Applauds Abbott on Paycheck Loan Announcement

Date: April 13, 2020

State Director Annie Spilman released the following statement in response to Governor Abbott’s announcement that Goldman Sachs and the LiftFund, along with other community development financial institutions, will provide $50 million in loans to small businesses in Texas:

“So far, at least 70% of small businesses nationwide have applied for Paycheck Protection Program loans, with varying degrees of success. Most of those businesses were successful in submitting their applications, but some banks are prescreening applicants before allowing them to fill out a full application, which means it takes even longer for them to get the money they need. The fact of the matter is that every day without access to these PPP loans costs more people their jobs and puts more small businesses in danger of closing permanently. 

“That’s why we’re grateful to Governor Abbott to working with lenders to secure loans for this important program. Small business is what drives Texas’s economy, so when you help small business, you help everybody.”

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