Gov. Abbott, Goldman Sachs, LiftFund Announce $50M in Loans For Small Businesses

News regarding the federal, state, and local response to the COVID-19 pandemic continues to change rapidly. Here are some bullet points for today:

  • Gov. Abbott, Goldman Sachs, LiftFund Announce $50 Million in Loans For Small Businesses
  • County Commissioners Delay Vote On Contract For Pop-Up Hospital
  • University Park Employees To Check On Neighbors
  • Highland Park Town Hall Lights Up Blue For Healthcare Workers, First Responders
Gov. Abbott, Goldman Sachs, LiftFund Announce $50 Million in Loans For Small Businesses

Governor Greg Abbott Monday announced that Goldman Sachs and the LiftFund, along with other community development financial institutions are partnering to provide $50 million in loans to small businesses across the state that have been affected by the COVID-19 pandemic as part of the Goldman Sachs 10,000 Small Businesses program.

The loans, made through the U.S. Small Business Administration’s (SBA) Paycheck Protection Program (PPP), will primarily be used for payroll so that employees can continue to receive paychecks and small businesses can retain their employees and will be partially or wholly forgiven.                                                                                       

“Small businesses and their employees are at the heart of the Texas economy, and they need support during these difficult times,” said Abbott. “These loans will help us revitalize our economy and restore Texans’ livelihoods as we respond to COVID-19. I thank Goldman Sachs and the LiftFund for providing this lifeline to Texas small businesses and their employees by providing them with the support they need to overcome the challenges posed by COVID-19. This partnership is an important first step in our journey to economic recovery in the state of Texas.”

“We have seen first-hand the determination and resilience of small business owners in Texas, having worked alongside them for years through our 10,000 Small Businesses program,” said John Waldron, president and chief operating officer of Goldman Sachs. “Goldman Sachs understands that our communities and economy rely on small business and we are doing everything we can to support this vital engine of economic growth and employment.”

Goldman Sachs will provide the capital as part of its $550 million commitment to COVID-19 relief, and LiftFund, alongside other CDFIs, will administer the funding to qualified small businesses. If all stipulations are met, small business can have their loans forgiven in full by the SBA. Business owners can apply for a PPP loan and find more information about the program on the LiftFund website. 

County Commissioners Delay Vote On Contract For Pop-Up Hospital

Dallas County Commissioners Monday delayed a vote on a $2 million contract for the temporary pop-up hospital at the Kay Bailey Hutchison Convention Center meant to accommodate patients recovering from COVID-19 as officials seek more guidance from area hospitals about their needs, according to the Dallas Morning News. The topic was on the agenda for an emergency telephone meeting.

Dallas Mayor Eric Johnson also shared via Twitter bed and ventilator capacity statistics Monday as reported by 24 hospitals. 

University Park Employees To Check On Neighbors

City of University Park employees plan to periodically check on residents over the phone while social distancing measures meant to prevent the spread of COVID-19 are in place. 

To set up the service, enter contact information for the resident via an online form here, or call 311. 

Highland Park Town Hall Lights Up Blue For Healthcare Workers, First Responders
Photo: Town of Highland Park

As usual, we end today’s digest by shining a light on something positive happening in the community. The tower and fountains at Highland Park’s town hall were lit in blue beginning last week in a show of appreciation for first responders and healthcare workers on the frontlines of the fight against the disease caused by the novel coronavirus.

For nearly 40 years, People Newspapers has worked tirelessly to tell the stories—good, bad, and sublime—of our neighbors in the Park Cities and Preston Hollow. To support our efforts, please contact [email protected] for advertising opportunities. Please also consider sharing this story with your friends and social media followers.

Rachel Snyder

Rachel Snyder, deputy editor at People Newspapers, joined the staff in 2019, returning to her native Dallas-Fort Worth after starting her career at community newspapers in Oklahoma. One of her stories won first place in its category in the Oklahoma Press Association’s Better Newspaper Contest in 2018. She’s a fan of puns and community journalism, not necessarily in that order. You can reach her at [email protected]

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