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COVID-19 Updates & Business Resources

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COVID-19 is impacting our circumstances in a profound way. First, Kilgore Economic Development Corp. hopes you are well.  We also want to support the community and employers in Kilgore. That is true always, but especially now when our circumstances are rapidly changing.  Be assured that KEDC has the tools and capability to rise to this challenge and help the community. KEDC was created in response to crisis in the 1980s and has responded through the years by nurturing a cohesive and successful economic strategy. Below please find sources of support and relief:
 

 

Kilgore Support

Kilgore Cares

Kilgore Economic Development Corporation has established Kilgore Cares, a COVID-19 Crisis Program that addresses the needs of various Kilgore businesses impacted by the adverse economic impacts of the novel coronavirus. There are still funds available in the program for primary employers, so please contact KEDC if you're interested in applying.

The COVID-19 Crisis Economic Development Performance Agreements for industrial employers will provide financial relief to approved applicants. The program will be structured as a forgivable loan for a term of one year. If the company remains in business in Kilgore at the end of the term, the loan will be forgiven. The loan program will be similar to KEDC retention agreements.  For more information, contact KEDC at 903 522 5332 or submit the application below to [email protected].

Application for COVID-19 Crisis Economic Development Performance Agreement for industrial employers - PDF

Application for COVID-19 Crisis Economic Development Performance Agreement for industrial employers - Word

For more information: Kilgore Cares Crisis Fund Local Industrial Employers

 

Business Assistance through the Small Business Administration

The Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act passed on December 21, 2020 is the fourth and latest package enacted to provide continuing econmic relief from the COVID-19 pandemic. Included in this package is the new round of Paycheck Protection Program loans (PPP2). The goal of the PPP2 is to get this money to those that need it the most. Applications are expected to open mid January, 2021 but it is advised to speak to your SBA 7 (a) lender as soon as possible. 
 
In order to receive a PPP2 loan, eligible entities must: 
  • Employ not more than 300 employees.
  • Have used or will use the full amount of their PPP; and
  • Demonstrate at least a 25% reduction in gross recipts in any quarter of 2020 relative to the same 2019 quarter. 
  • Businesses that were not in operation in Q1, Q2, Q3 and Q4 of 2019; pro-rata based on days open. 
  • Business must have been open February 2020 or earlier.
 
Loan terms for PPP2:
  • Loan amount of up to 2.5 times the average monthly payroll for 2019 or prior trailing 12 months. 
  • No loan can be greater than $2 million.
  • Covered period - choose between eight and 24 weeks. 
 
As with PPP1, the costs eligible for loan forgiveness in PPP2 include payroll, rent, covered mortgage interest, and utilities.
Loan forgiveness for PPP2:
  • Covered operations expenditures. Software, cloud computing and other HR accounting needs. 
  • Covered supplier costs. Expenditures essential to the recipient’s current operations.
  • Covered worker protection expenditure. PPE and costs to comply with COVID-19 federal health and safety guidelines. 
  • Employer-provided group insurance benefits are included in payroll costs. This includes, group life, disability, vision, or dental insurance.

Must still meet the 60/40 rule: 60% on payroll and 40% other expenditures

Simplified application for loan of $150,000 or less:

  • Creates a simplified forgiveness application process for PPP loans of $150,000 or less. Specifically, a borrower shall receive forgiveness if a borrower signs and submits to the lender a certification that is not more than one page in length, includes a description of the number of employees the borrower was able to retain because of the loan, the estimated total amount of the loan spent on payroll costs, and the total loan amount. The SBA must create the simplified application form within 24 days of the bill’s enactment and may not require additional materials unless necessary to substantiate revenue loss requirements or satisfy relevant statutory or regulatory requirements. Borrowers are required to retain relevant records related to employment for four years and other records for three years, as the SBA may review and audit these loans to check for fraud.
  • Repeals the requirement that PPP1 and PPP2 borrowers deduct the amount of any EIDL advance from their PPP forgiveness amount.
  • Includes set-asides to support first- and second-time PPP borrowers with 10 or fewer employees, first-time PPP borrowers that have recently been made eligible, and for loans made by community lenders.

 

Other PPP-related changes:

  • PPP loans are tax exempt income; favorable change from previous IRS guidance
  • EIDL grants will not impact forgiveness
  • Ability to request an increase in initial PPP loan if incorrect first time 
  • Borrowers who returned all or part of loan may reapply if they have not received forgiveness 
  • Grants for live venues and movie theaters are available - they are not eligible for both the grant and PPP. 
 
EIDL (Economic Injury Disaster Loan) Grants: The new law reopens the $10,000 EIDL Grant program. Priority for the full amount of the EIDL grant will be given to small businesses with less than 300 employees, located in low-income neighborhoods, who have experienced a 30% reduction in gross receipts during any 8-week period between March 2, and December 31, 2020 compared to a comparable 8-week period before March 2. If you meet this description and received a grant that is less than $10,000 you can reapply to receive the difference. 
 
 
For questions or assistance on the SBA programs please contact the UT Tyler-Longview Small Business Development Center on (903) 757-5857 or visit the website. See the list below o contact Kilgore participating lenders
 

SBA 7(a) lenders in Kilgore

Citizen Bank
301 E. Main Street
Kilgore, TX 75662
903-984-8671


Austin Bank
1006 Stone Road
Kilgore, TX 75662
903-983-1584


Regions Bank
910 N. Kilgore St
Kilgore TX,75662
903-218-5520


Vera Bank
410 N. Kilgore St.
Kilgore, TX 75662
903-986-2265


Business Resources

Steps to Reopen Texas: Individuals, employers, employees, and customers are encouraged to review, print out, and follow the MINIMUM health protocols recommended by DSHS in the checklists located in the Governor's Strike Force to Open Texas Report in addition to federal and state employment laws and workplace safety standards. The DSHS minimum recommended health protocols are subject to change based on new and evolving information.
 

NFIB: Small Business Resources in Response to Coronavirus

OSHA COVID-19 RESOURCES

The U.S. Chamber of Commerce: Combating Coronavirus

U.S. Chamber Disaster Help Desk

Coronavirus Small Business Guide

Guidance For Employers - How to plan and respond to the Coronavirus

Workplace Tips - Tips and resources for employers to combat the virus

Resource Page - Links to resources on business resilience and disaster recovery

More Resources - Including consolidated, business-specific guidance from the Centers for Disease Control and Prevention (CDC).

5 Ways to Calm Coronavirus Fears Among Your Employees

Coronavirus Best Practices for Small Businesses

SCORE has chapters throughout Texas and provides in-person and virtual counseling and mentorship. They have also published resources and information to support small business. 

 

Information for Employers

The Texas Workforce Commission is a great source that can assist small businesses during these turbulent times. Visit the TWC website for resources available to  employers and job seekers impacted by the COVID-19.Services include:
  • Assisting businesses with managing and preventing lay-offs
  • Available statewide network of Workforce Solutions Offices
  • Continuation of job matching and training services
  • Ongoing communication with employers to provide information and updates about services and resources
Find more Resources for Employers: The Commissioner for Employers legal team is available Monday through Friday (8 a.m. to 5 p.m.) to answer employment law questions. Please contact them at 800-832-9394 or [email protected]
 
TWC has launched an Unemployment Insurance document portal so employers can now submit requested claim documents or provide important benefits information through the online portal. Click here to go to the Employer UI Submission Upload portal.  
 
 
 

Information for Job Seekers

Update 01.05.2021  - Emergency Coronavirus Relief to Further Extend Unemployment Assistance to Texans
The Department of Labor (DOL) has issued guidelines to assist the Texas Workforce Commission (TWC) in the implementation of the Continued Assistance for Unemployed Workers Act of 2020 (CAA). Payments under this legislation are authorized for the payment week ending January 2, 2021. The act will provide up to 11 additional benefit weeks to Texans on Pandemic Unemployment Assistance (PUA) and Pandemic Emergency Unemployment Compensation (PEUC).
 
CAA extends the unemployment benefits claim programs created under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Key provisions of the act include:
  • The Dec 26, 2020 deadline for expiration of CARES Act benefits has been extended to March 13, 2021.
  • The legislation includes an extra $300 per week for eligible claimants who are unemployed and receiving benefits during the covered weeks.

TWC will automatically enroll all Texans who are eligible for benefits under the act. There is no need for people to call or reapply. For individuals unable to request payment due to having exhausted their claims in advance of the previous December 26 deadline, TWC will send them updated information.

For more information on COVID-19 and unemployment benefits, visit:  https://www.twc.texas.gov/news/covid-19-resources-job-seekers.

 

Workforce Solutions East Texas: Contact career advisers at 1-844-ETWORKS (844-389-6757) for individual assistance or visit www.WorkInTexas.com. Workforce Solutions East Texas had created a free series of webinars to assist East Texans manage their time and maximize their skillsets while they are home or working reduced hours. These are free to attend you just need to register your attendance in advance. View the full list of webinars and register here.

 

Other Disaster Resources

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State
 
 
Federal
 
 
 
COVID-19 Updates, Resources, & Impact Survey Go Now