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SBA Lending | COVID-19 Relief for Small Businesses

March 26, 2020
Women Business Owner with Laptop

To keep you informed, we will update this page regularly as information becomes available. Please check back often.

Small business owners are eligible to apply for a low-interest loan due to COVID-19. 

>> Learn more: Economic Injury Disaster Loan Program



We are closely monitoring the latest developments from the Small Business Administration (SBA) and related appropriation packages as they are approved by Congress. 

Relief associated with COVID-19 for small business owners is anticipated to be provided in two forms:

  • Economic Injury Disaster Loan Program provided directly by the SBA
  • Longer-term economic stimulus aid which the SBA will distribute in the form of SBA loans through local banks. The Bank of San Antonio intends to offer such loans once they become available. 

As you consider which form of assistance is best for your business, please keep in mind that accessing funds from one SBA relief program could make you ineligible to access funds from other SBA relief programs.

Existing SBA Borrowers Information

As of March 26th, 2020 the SBA has approved adjustments to their existing programs as detailed below:

  • Existing SBA Disaster Loans – If you have an existing SBA Disaster Loan, the SBA announced that payments can be automatically deferred through December 31, 2020 without prior approval from the SBA. For more information, view the SBA’s announcement.
  • Existing SBA Section 504 Loans – If you have a current SBA Section 504 loan as a second lien, the second lien payment may be deferred with approval by the Community Development Corporation (CDC) that provided the original loan. Please contact the CDC directly to request a deferment.

Available Relief 

The SBA is currently receiving applications for the following program:

  • Economic Injury Disaster Loan Program (EIDL) – The SBA’s Economic Injury Disaster Loan Program provides small businesses in all U.S. states and territories with working capital loans of up to $2 million to help overcome a temporary loss of revenue. The program is administered through the SBA. 

The  Texas Comptroller's agency is offering assistance to business owners who are unable to submit their Feburay 2020 collected sales taxes in the form of short-term payment agreements and, in most instances, waivers of penalties and interest. Contact their Enforcement Hotline at 800-252-8880 to learn about your options for remaining in compliance and avoiding interest and late fees on taxes due. Visit their COVID-19 emergency response webpage for access to online tools, tutorials and other resources. 

Anticipated Assistance

Congress is in the process of evaluating needs and allocating funding for additional relief through the SBA. Though details of these programs have not been finalized, there are things you can do now to prepare, so that you may respond quickly once funding is announced. 

Useful Tips

Regardless of which type of relief you choose, consider the following as you apply for assistance and loans:

  • If you file joint tax returns, you will need to provide a joint personal financial statement. Both parties will need to sign and date the form.
  • Have your tax returns, financial statements, and forms ready by signing and dating the first pages.
  • It is important to note that these programs do not provide funds immediately. In the current environment, it is estimated to take 4 to 6 weeks from application for processing, approval and initial funding. We recommend making arrangements with landlords, vendors and other suppliers for additional relief.

We encourage you to reach out to our SBA team or your relationship manager with any questions.


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