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Economic Recovery Resources

Resources for Business

As you are looking to make some business decisions about issues currently impacting your business, please take a look at the following options that may be available for you. The Frisco Chamber of Commerce is diligently working to update this page as information is received. Our goal is to provide easy-to-understand explanations of how the resources found here impact individuals and different-sized businesses, by providing toolkits and links to much-needed documents! We are here to help! Please let us know if we missed an important resource or if you need further explanation! 

Paycheck Protection Program Reopens Today

First Time Borrowers May Apply Today, Second Time Borrowers May Apply Wednesday

Beginning today, January 11, 2021, small businesses who have not yet received emergency loans through the Paycheck Protection Program (PPP), also known as First Draw PPP Borrowers, can apply for loans through the program.

Businesses who previously received PPP funding, known as Second Draw PPP Borrowers, who qualify can apply for additional funds beginning Wednesday, January 13, 2021. 

Initially, only community financial institutions will be able to make First Draw and Second Draw PPP Loans. The PPP will open to all participating lenders shortly thereafter.

The following important updates have been made to the Paycheck Protection Program since it originally launched in 2020:

  • Borrowers can set their covered period to be any length between 8 and 24 weeks to best meet their business needs;
  • Loans will cover additional expenses, including operations expenditures, property damage costs, supplier costs, and worker protection expenditures;
  • 501(c)(6)s, housing cooperatives, direct marketing organizations, and other types of organizations who previously were not eligible may now apply;
  • Certain existing PPP borrowers can request to modify their First Draw PPP Loan amount;
  • Employers may now deduct PPP related business expenses.

Borrowers who already received PPP loans may apply for a second draw on or after Wednesday, January 13, 2021 if they: 

  • Previously received a PPP Loan and will or has used the full amount only for authorized uses;
  • Have no more than 300 employees; and
  • Demonstrates at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020.

More information about the Paycheck Protection Program, including frequently asked questions and application forms, can be found on the Small Business Administration website

Information provided by Congressman Van Taylor

 

Effective December 5, 2020, businesses must ‘roll back’ operation capacities to 50% because Trauma Service Area (TSA) Region E has experienced a 15% COVID-19 hospitalization rate for seven consecutive days since November 27, 2020 (per Governor Greg Abbott’s Executive Order GA-32.)  The City of Frisco has put together the Open Frisco ‘At A Glance’ document for your convenience.

Please see the information below being provided on the City of Frisco’s website. The City of Frisco has put together a tool to help your business calculate occupancy. Please bookmark this link.

TSA-E Hospitalization Rates

What does TSA-E stand for?  

What happens if we (TSA-E) reach a COVID-19 hospitalization rate of 15%?

  •  Nothing changes until our region maintains a 15% or higher COVID-19 hospitalization rate for seven ( 7 ) consecutive days. 

What happens if we (TSA-E) get to 15% for 7 consecutive days?  

  • Businesses must limit their occupancy rate to 50%, per the Governor’s Executive Order 32 (issued Oct. 7, 2020).    
  • Hospitals must postpone all surgeries and procedures not considered “medically necessary” to diagnose or correct a serious medical condition or preserve life, per the Governor’s Executive Order 31 (issued Sept. 17, 2020).   
  • Hospitals must reserve at least 10-percent of its hospital capacity to treat COVID-19 patients. A hospital may reserve less than 10-percent of its capacity for COVID-19 patients if it belongs to a ‘hospital system’ (more than one hospital) where the cumulative capacity reserved throughout the system is at least 10 percent, per the Governor’s Executive Order 31 (issued Sept. 17, 2020).   

When can businesses go back to operating at 75% capacity?

  • Not until the TSA-E’s COVID-19 hospitalization rate is below 15% for 7 consecutive days.

For latest COVID-19 case data, please visit the following dashboards:

For more information, click here.

Governor Abbott Expands Capacity for Certain Services in Texas; Bars to open up to 50% (October 7, 2020)

Governor Greg Abbott issued Executive Order to open bars and similar establishments at up to 50% in conjunction with county officials in qualifying counties, effective October 14, 2020. Executive Order GA-32 (PDF) 

  • Executive Order GA-32 (PDF)  also increases occupancy levels for all business establishments other than bars to 75% (in qualifying counties).
  • Qualifying Counties are those that reside in hospital regions with low COVID-19 hospitalizations (less than 15% of hospital capacity) as defined in Executive Order GA-31 as amended.

See all Executive Orders here.

Texas COVID-19 Business Recovery Survey (August - September)

According to a recently conducted survey conducted in communities across Texas, most businesses have slowly returned to the pre-pandemic conditions. They are now adapting to today's economic realities, which include more employees working from home, a protracted recovery along with an elevated public health risk. Read online | PDF version.

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