March 31, 2020
Members and Supporters,

We are sharing updates about the recently passed Coronavirus Aid, Relief, and Economic Security Act (CARES Act) . Through this Federal Stimulus Act, Congress has approved $350 billion in emergency loans for small businesses to help keep workers employed. Please find resources below to help you navigate the CARES Act. 
 
Also, follow the Chamber on social media where we will continue to share out CARES Act Resources as well.
 
Lastly, as a reminder, we have set-up a Facebook Member Group.  This is a member-only group page dedicated to connecting our members. You can share more information about your business and stay up-to-date on the latest “real-time” announcements from the Chamber. If you’ve joined the Facebook Group, create a post and let us know how you’re doing. Share a great tip on how you are taking it “one day at a time” or something you think may be helpful to other members.

We will continue to send more resources and information become available. It’s a challenging time but We Are All In This TOGETHER.  If you need anything please call the Chamber Office at 832-510-3002 or email info@houstonlgbtchamber.com .
Tammi Wallace
Co-Founder & Board Chair
CARES ACT - Federal Stimulus and What it Means
for Your Business
The  883-page bill , titled the "CARES Act," includes thousands of dollars in direct payments to most Americans, and huge loan packages designed to help keep small businesses and corporations afloat.

The main features for small businesses under the CARES Act are emergency grants and a forgivable loan program for companies with 500 or fewer employees. There are also changes to rules for expenses and deductions meant to make it easier for companies to keep employees on the payroll and stay open in the near-term.
 
Emergency grants : The bill provides $10 billion for grants of up to $10,000 to provide emergency funds for small businesses to cover immediate operating costs.
 
Forgivable loans : There is $350 billion allocated for the Small Business Administration to provide loans of up to $10 million per business. Any portion of that loan used to maintain payroll, keep workers on the books or pay for rent, mortgage and existing debt could be forgiven, provided workers stay employed through the end of June.
 
Relief for existing loans : There is $17 billion to cover six months of payments for small businesses already using SBA loans.
You are eligible for if you are:
 
  • A small business with fewer than 500 employees
  • A small business that otherwise meets the SBA’s size standard
  • A 501(c)(3) with fewer than 500 employees
  • An individual who operates as a sole proprietor
  • An individual who operates as an independent contractor 
  • An individual who is self-employed who regularly carries on any trade or business
  • A Tribal business concern that meets the SBA size standard
  • A 501(c)(19) Veterans Organization that meets the SBA size standard
 
In addition, some special rules may make you eligible:
  • If you are in the accommodation and food services sector, the 500-employee rule is applied on a per physical location basis
  • If you are operating as a franchise or receive financial assistance from an approved Small Business Investment Company the normal affiliation rules do not apply.
Other CARES Act Resources:

The Small Business Owner’s Guide to the CARES Act from the U.S. Senate Committee on Small Business & Entrepreneurship. 


Overview of CARES Act from Small Business & Entrepreneurship Council

Greater Houston Business Recovery Center (GHBRC)  - The Greater Houston Partnership has launched GHBRC to help Houston companies plan their next steps. The GHBRC is a business-led recovery program connecting businesses to available recovery resources. As a first step in this program, the Partnership aims to inform its members and Houston’s business community about federal programs and opportunities designed to help companies’ weather and recover from the COVID-19 crisis. 
Upcoming Webinars


Check the Events Calendar frequently for more webinars. Do you have an idea for a webinar you would like to see? Email info@houstonlgbtchamber.com to share your thoughts. Would you like to present a webinar? Complete the Program Proposal Form .

We know that during this time our members need us now more than ever. We will continue programming through video-conference to provide opportunities for new resources, skills and leads.
Support Local
Please continue to support LGBTQ and Allied businesses. Have you seen the Chamber’s Support Local page? Buy gift cards and order online from a Chamber Member. Also, our nonprofits, many of which have had to cancel their spring fundraisers, need our support – please donate to those whose events you would have supported or consider an extra gift to nonprofits that are really struggling right now. Peruse our Chamber Directory or go online and call one of our members to say: “Hi, I’m a Greater Houston LGBT Chamber Member and just wanted to check in and see how you are doing and what I can do to support you."

How Can You Help This Week?
Join us in an effort to infuse revenue into our local economy by ordering takeout or delivery for breakfast, lunch and/or dinner this week from a Chamber member. We know that spending money in our local economy helps grow our general fund base, which will in turn support our residents, businesses and community as a whole.
COVID Resource Page
We continue to update the COVID Resource Page with information to help our members navigate this challenging time. Check out the Resource Page here .
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Greater Houston LGBT Chamber of Commerce | 832-510-3002 | info@houstonlgbtchamber.com | houstonlgbtchamber.com