The City of Austin is no longer accepting new inquiries for the Austin Economic Injury Bridge Loan Program. The deadline for submission expired on May 8, 2020 at 5:00 p.m.
We are exploring how we can use additional federal and local funds to offer additional assistance for small businesses, start-up companies, entrepreneurs, creatives, and non-profit organizations.
Find helpful resources:
City of Austin's ATXRecovers.com - A one-stop resource to help businesses and individuals recover from the financial hardships caused by the COVID-19 pandemic.
Economic Development Department’s Small Business Resources Directory - Database of local, state, federal, and community resources. Filter by “Disaster Relief” to find immediate support for businesses impacted by the COVID-19 pandemic.
The Austin Economic Injury Bridge Loan Program provides loans up to $35,000 for daily needs like rent, payroll, and debt. Eligible local businesses must be able to demonstrate an economic loss associated with the COVID-19 global pandemic. The loan is intended to “bridge the gap” between the time a major catastrophe hits and when a business secures recovery resources. The Austin Economic Injury Bridge Loan Program terms require payment of loan dollars up to 12 months at 3.75%.
This loan is not designed to be the primary source of assistance to affected businesses. To be eligible, you must be headquartered in a City of Austin Council district and have applied for the U.S. Small Business Administration (SBA) Economic Injury Disaster Loan.