The Texas Woman’s University (TWU) is offering a program to assist Texas, woman-owned businesses that have been impacted by COVID-19. Eligible businesses that meet the specified conditions can apply for grants totaling $10,000.

Learn more about TWU’s AssistHer Emergency Relief Grant.

Governor Abbott has announced that the U.S. Small Business Administration (SBA) has now granted Texas’ Economic Injury Disaster Loan (EIDL) assistance declaration, making loans available statewide to small businesses and private, non-profit organizations to help alleviate economic injury caused by the Coronavirus (COVID-19).

Next Steps: Small businesses who believe they may be eligible for an SBA EIDL should visit the SBA’s website where they can directly apply for assistance. The online application is the fastest method to receive a decision about loan eligibility.

For additional information on Texas business-related COVID-19 resources, including a list of required documentation for the SBA Loan process, visit the Texas Gov. website.

Dear Business Partner –

On behalf of The Colony Economic Development Corporation, I wish to assure you that nothing is more important than the health and safety of our residents and businesses. We have been closely monitoring developments regarding the Coronavirus (COVID-19) for several weeks, and we share your concerns.  It has been our intent to keep you informed of vital information to help your business, starting with our presentation to the Chamber on Emergency Preparedness last year.  Drawing from the Business Continuity presentation/plan, we have created a Business Retention Coronavirus Recovery Checklist (attached) which will help with guidelines for the immediate actions a local business should take during this time.

In addition to the immediate steps on the attached checklist, I wanted to provide some information to businesses, specifically on the U.S. Small Business Administration (SBA) Disaster Assistance Loan program.

Here is the link to the SBA press release outlining the process for accessing the relief funding loans:

SBA Disaster Assistance Loans for Small Businesses Impacted by COVID-19

One criterion for qualifying is being in a disaster-designated area by the SBA (see bullet below).   Texas is currently not on the list.

  • Any such Economic Injury Disaster Loan assistance declaration issued by the SBA makes loans available to small businesses and private, non-profit organizations in designated areas of a state or territory to help alleviate economic injury caused by the Coronavirus (COVID-19).

In order to get an area declared as eligible, the State has to receive five SBA validated Economic Injury Worksheets, and then the Governor may request the Economic Injury Disaster Declaration. Denton County will need to submit at least one valid Economic Injury Worksheet in order to be included on the declaration.

The process is outlined by the Texas Department of Emergency Management (TDEM) link:

Use this link for more detailed information and to fill out the required form (Economic Injury Worksheet) for submission.  It is very important that the “Estimated Adverse Economic Impact” section of the form be completed in its entirety.  The “brief explanation” field should also include comments that state “the economic impact is directly related to COVID-19.”

You may find additional information at the U.S. Small Business Administration’s website listed below:

Please forward this information to anyone you feel appropriate.

If you have any questions, please feel free to contact Diane Lemmons, Business Retention & Expansion Manager, , 972-624-3111.

You can download the Business Retention Coronavirus Disaster Recovery Checklist here (229k pdf)

Best Regards,

Keri Samford
Executive Director of Development

The Colony EDC received the 2019 Economic Excellence Award from the Texas Economic Development Council for the 12th consecutive year during the TEDC Winter Conference held February 19-21 in College Station.

The Colony is one of only 53 organizations statewide to earn this honor this year.

“The Economic Excellence Recognition program provides recognition to economic development organizations that exemplify a high threshold of professionalism,” said Carlton Schwab, President/CEO of the TEDC, during the awards presentation program.

According to TEDC, recipients qualify for recognition based on training taken by their governing board/council as well as the economic development director and professional staff. Certifications, professional memberships and activities, and organizational effectiveness of the economic development staff also contribute to the standards for qualification.

“This award recognizes the expertise and dedication of many in our City who have worked hard to make The Colony a Texas Destination for exceptional commercial and residential development,” said The Colony Mayor Joe McCourry.  “This highly experienced team includes our City administration, elected and appointed officials, and Economic Development staff, and we thank and congratulate each member for their success.”

The Texas Economic Development Council, established in 1961, is an Austin-based, statewide, non-profit professional association, dedicated to the development of economic and employment opportunities in Texas. The TEDC provides information, educational and legislative services to nearly 850 members. Its objective is to support the economic growth of Texas and develop strategies that promote a positive business climate in the state.