Keene Chamber of Commerce  
Congressman Williams hosts conference call about SBA loans
April 06, 2020

Congressman Roger Williams will host a conference call on Tuesday, April 7, 2020 at 1:00pm CST with business owners from Johnson County to provide up-to-date information on the Small Business Administration (SBA) loan application process and answer questions from participants. He will be joined by SBA District Director, Herb Austin, who will be available to answer questions on the local process.

In order to accommodate those interested in participating and ensure a fluid event, please submit your questions two hours before the event. Participant information is below:

Phone number: 877-853-5257

Meeting ID: 954-126-790

Details for the event are as follows:

DATE: Tuesday, April 7, 2020

TIME: 1:00pm CST

WHAT: Conference call with Congressman Williams and SBA District Director Herb Austin

Please visit williams.house.gov/coronavirus to sign up for updates on COVID-19 and for more information on resources for business owners. If you have additional questions about the event or topics covered, please call our Cleburne office at 817-774-2575.

How CARES Act affects small businesses
March 30, 2020

The following was sent to the Keene Chamber of Commerce by Don Nicholas, field representative for U.S. Congressman Roger Williams:

HOW DOES THE CARES ACT AFFECT SMALL BUSINESSES?

See Below for Frequently Asked Questions by Small Businesses That Have Been Impacted By The Coronavirus and Helpful Answers

Is your small business struggling due to the recent coronavirus epidemic?

-  Your business may be eligible for a new Paycheck Protection Loan.
-  This 4% interest rate loan is 100% guaranteed by the SBA.

Who is eligible?
- Businesses and 501(c)(3)s with less than 500 employees.Where can you get this loan?

-  Any existing SBA lenders and any lenders that are brought into the program through the Treasury.
-  You should talk to your preferred financial lender to see if they qualify.What can you use the loan amount for?

-  Payroll costs
-  Group health care benefits
-  Employee salaries
-  Interest on ay mortgage obligation
-  Rent
-  Utilities
-  And any other debt obligations occurred before Feb. 15, 2020.

How much can you borrow?
- The maximum amount is the lesser of $10 million or 2.5 times the average monthly payroll based on last year’s payroll.

How long will it take to receive the money?

- The SBA has authorized lenders to process, close, and service loans without SBA approval, giving you the means to invest in your business immediately.

What if you can’t pay it back?

-  First, all payment on principle, interest, and fees will be automatically deferred for six months.
-  Second, for businesses that retain their staff up until June 30, 2020, this loan will be forgiven.

Can the entire loan be forgiven?
-  No, only the portion of the loan used to cover payroll costs, mortgage interest, rent, and utilities can be forgiven.
-  In addition, only 8 weeks can be forgiven.Other useful resources:

-  Full text of the final bill
-  Section-by-section summary of the bill

IRS announces sweeping changes
March 26, 2020

To help people facing the challenges of COVID-19 issues, the IRS announced today a sweeping series of steps to assist taxpayers by providing relief on a variety of issues ranging from easing payment guidelines to postponing compliance actions.  Please share this with your members, staff, clients, colleagues and anyone who may benefit from this information.

Due to the #COVID19 outbreak, #IRS is postponing payments related to Installment Agreements and Offers in Compromise and limiting other enforcement actions. See www.irs.gov/coronavirus

#IRS will temporarily suspend many collections and enforcement activities as soon as possible. See details at: www.irs.gov/coronavirus

In addition to extending tax deadlines and working on two new tax credits, #IRS will temporarily suspend many collections and enforcement activities. See www.irs.gov/coronavirus

#IRS is easing the burden on people facing tax issues. In addition to extending tax deadlines and working on two new tax credits, we’ll temporarily suspend many collections and enforcement activities. Seewww.irs.gov/coronavirus

#IRS is taking several steps to assist taxpayers in various stages of the Offers in Compromise process. See www.irs.gov/coronavirus

A new #IRS People First Initiative provides immediate relief to help people facing uncertainty over taxes. See details at: www.irs.gov/coronavirus
 

Alicia Allen, Tax Specialist, Internal Revenue Service, Communications and Liaison

Phone:  469-801-1539

E-mail:  vog.sri@nella.d.aicila

Contact Us
Keene Chamber of Commerce
110 S. Old Betsy Road
Keene, Texas 76059
(817) 556-2995
 
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Welcome to Keene, Texas

Keene offers visitors and residents the charm and warm hospitality of small-town life at its best combined with easily available modern conveniences and amenities. Located 30 minutes south of Fort Worth, Keene has it all: a mild four-season climate, recreational opportunities, a large University, award-winning schools, myriad of cultural and social activities, affordable cost-of-living, and a thriving and prosperous business community.

The Keene Chamber of Commerce has been serving Keene since 1993. We strive to partner with local businesses, government and education to support a favorable economic environment. The Chamber represents business, organization, and individual members who depend on the Chamber for member services including networking events, community and business development, ribbon cuttings, growth opportunity reports, economic data gathering, business referrals, business seminars, relocation packets, and being an advocate with governmental and regulatory bodies. These are among the many services we provide to our members.

The Keene Chamber's objective is to provide a platform from which our members can enhance their business or organization through networking and programs designed to improve their bottom-line and to make available the tools necessary to excel as the economy improves. Our mandate is to pursue opportunities in the areas of retail development and education. We will work diligently to ensure that our local economy is strong and vibrant.

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