Blog

After winter storms

Texas Winter storms and your Insurance

By Alejandra de la Torre, Alejandra de la Torre Agent State Farm Insurance

As the ice thaws, Texans are getting a better understanding of the damages caused by last week’s winter storms. The most common damages suffered were as a result of burst pipes, falling trees and power failures. As home and business owners begin to tackle the cleanup and repairs, they are looking for answers. Some of the questions we are getting in my office are can I be reimbursed for food spoilage? Is tree removal covered? Can I get my hotel stay reimbursed? The answer to these questions can be found in your insurance policy. As this can be a complicated document, it is important to consult your insurance agent to determine what your policy does and does not cover. When deciding whether or not to file a claim, there
are some important things to consider:
– Make sure you check what your deductible is. Many coverage’s are subject to your deductible.
– If you stayed at hotels do to power outage or no water. Many insurance will not cover you hotel stay. If you or your family had to evacuate your home due to storm damage, your policy might cover your cost.
– If you do have a claim keep in mind plumbers and restoration are two to four weeks out. Get your name on as many waiting list as possible. Also insurance companies are dealing with many claims, don’t wait until they call you to get your contractors or plumber.
– Take pictures of everything, before, during and after getting work done…if you think you are taking too many picture take more! Keep every receipt, and itemized list of the damages.
– Keep your family safe and try to mitigate the damage.


In some situations the damage may not be covered by insurance. In these instances, there may still be help available from the federal government. If you have loss that your insurance doesn’t cover consider filing a claim with FEMA. FEMA can’t duplicate benefits for losses covered by insurance however, if insurance does not cover all of your damage, you may be eligible for federal assistance. The fastest way to apply is online at www.disasterassistance.gov.

If you don’t have internet access you can register by calling 800-621-3362 or TTY: 800- 462-7585. The phone lines operate from 8 a.m. to 10 p.m. CDT each day.
Here are some Q&A from Texas Department of Insurance
https://www.tdi.texas.gov/consumer/storms/winter-storm-faq.html

Asistencia Para Desastres Por Tormenta Invernal

Pasos para recibir asistencia.
Para ti y tu hogar:

Primero: debes hacer la solicitud o reclamo a tu seguro.
Asistencia a través de Grant de FEMA  está disponible para hogares sin seguro o con seguro insuficiente.
Requisitos de ciudadanía: al menos un miembro del hogar debe ser ciudadano o residente legal de los EE. UU. (puede incluso ser un niño menor de edad que sea ciudadano o residente legal de los EE. UU. con un padre o representante solicitando en su nombre).
La asistencia de FEMA es una Subvención (Grant) y no tiene que ser reembolsada, y no afecta tus impuestos. No tiene ningún efecto sobre el Seguro Social, Medicaid u otros programas de bienestar.
Pueden ser utilizados para gastos de vivienda temporal, gastos de alojamiento, reparación del hogar, reemplazo del hogar, construcción de vivienda permanente y de cuidado de niños, gastos médicos y dentales, gastos de funeral y entierro, daños a los artículos del hogar, combustible para la fuente de calor primaria, artículos de limpieza, daños a vehículos esenciales, mudanza, almacenamiento y otros gastos o necesidades serias según lo determine FEMA.

Para tu negocio:

Primero:  debes hacer la solicitud o reclamo a tu seguro.  
Préstamos por desastre de la SBA
– Préstamo para desastres físicos para empresas
– Préstamo por desastre por daños económicos (EIDL)
– Préstamos para viviendas por desastre
Se pueden otorgar múltiples préstamos por desastre ya que se emitieron múltiples declaraciones de emergencia (Covid y Winter Disaster). No puede haber superposición (gastos duplicados) en lo que respecta a los fondos, pero dos préstamos por desastre separados pueden estar activos para las dos declaraciones.
Debes tener un historial crediticio aceptable para la SBA
Debes demostrar tener la capacidad de reembolso
Debes tener un colateral para préstamos de más de $ 25K
El tope para préstamos es de $2 millones; interés entre 1,25% y 6%; términos de 7 a 30 años.

Winter Disaster Assistance

By Joni Foster, EGBI Program Director

For you and your household

  • First: Claim against your Insurance
  • FEMA grant assistance available for uninsured or underinsured households.
  • Citizenship requirements: A member of the household must be a citizen, non-citizen national or qualified alien of the US, including a minor child who is a citizen, non-citizen national or qualified alien of the US with a parent or guardian in the house applying on their behalf.
  • FEMA assistance does not have to be repaid and is not taxable income. It has no effect on Social Security, Medicaid or other social safety net programs.
  • Temporary housing, lodging expenses, home repair, home replacement permanent housing construction AND child care expenses, medical and dental expenses, funeral and burial expenses, damage to household items, fuel for primary heat source, clean up items, damage to essential vehicles, moving, storage and other expenses or serious needs as determined by FEMA.

For your business

  • First: Claim against your insurance
  • SBA Disaster Loans
    • Business Physical Disaster Loan
    • Economic Injury Disaster Loan (EIDL)
    • Home Disaster Loans
  • Multiple disaster loans can be given since multiple declarations were declared. (Covid and Winter Disaster) There cannot be any overlap(double dipping) as far as funds go, but two separate disaster loans can be active for the two declarations. 
  • Credit history acceptable to SBA
  • Show repayment ability
  • Collateral needed for loans over $25K
  • $2 million ceiling; interest rate between 1.25 and 6%; terms from 7 – 30 years
Drip pipes

EGBI Clients Have Services TO help you recover from the Winter storm

Do you need help recovering from the winter storm? Our clients have businesses that can be of service.

JMR Services is a Master Plumber RMP # 41721. He can be reached at this number 512-964-3140 .

Castillo Drywall specializes in drywall and can do different textures. Their number is 512-558-1800 .

Delta Painting does water damage restoration. They can be reached at 512-577-0241.

Grandes Painting can handle your water damage restoration needs. They can be reached at 512-552-3920 .

J& L Framing, LLC Can assist with any siding damage or your framing needs. His number is 512-550-4354 .

MasterBuilt Construction, LLC – This company does full remodels. One of their services is water damage restoration. Contact them at 512-308-6262 .

MTZ Brothers Painting and Drywall – Can assist with drywall repair. Please contact them at this number 512-699-0070 .

Smiley’s Junk Removal & Recycling, LLC – Will haul off most junk, trash, or unwanted items. Call 512-787-1319 .

Please refer to our directory if you are in need of any companies to assist with your cleaning needs. For a list of our clients with Cleaning Companies, click HERE. Please let us know if you have any questions.

2021 COVID-19 Small Business Relief on the Way for EGBI Clients

By Joni Foster, EGBI Program Director

Applications for the new $900 billion COVID-19 small business relief package begin for new borrowers the week of Jan 11, 2021 from community financial institutions like PeopleFund in Austin. What this means for small business owners:

  • If you did not apply for a SBA Paycheck Protection Program (PPP) loan in 2020, you could be eligible for a First Draw PPP loan under this new legislation starting Jan 11, 2021.
  • If you received a PPP loan in 2020, you could be eligible for a Second Draw PPP Loan under the new COVID-19 relief package starting Jan 13th.
  • If you did not apply for an SBA Economic Injury Disaster Loan (EIDL loan) in 2020, there is additional money in the legislation to fund new loans.

Major rules relevant to EGBI small business clients

The following is a quick glance at the Interim Rules for the PPP. Please refer to the SBA for the complete regulations or talk to your lender about your specific situation.

  • Small businesses apply for PPP loans from financial institutions. Talk to your lender. If you don’t have a lender, the SBA will roll out funds to community financial institutions like PeopleFund, LiftFund, BCL of Texas before banks and credit unions. Use this link to get on PeopleFund’s waiting list for a PPP loan: https://peoplefund.org/covid-19-loan-programs/
  • The loan is guaranteed by the SBA. No collateral is required. No personal guarantee is required. The borrow will not pay any fees for the loan. Lender must make a one-time disbursement of the loan within 10 days of approval.
  • The full amount of both First Draw and Second Draw PPP loans may be forgiven if used according to law.  The interest rate is 1% for 5 years for any part not forgiven.
  • Small businesses are eligible if you were in operation by February 15, 2020 and have less than 500 employees. Documents that can establish your eligibility: payroll records, payroll tax filings, Form 1099-MISC, Schedule C or F, income and expenses from a sole proprietorship, or bank records.
  • Second Draw Loans have special eligibility criteria:
  • Borrower for a Second Draw Loan must prove a revenue reduction of 25% or greater in any one quarter in 2020 compared to the same quarter in 2019. This provision appears to make start-up businesses ineligible for a Second Draw Loan if they did not have significant revenue in 2019.
  • Business has 300 or fewer employees.
  • Borrower must use the full amount of the First Draw Loan on eligible expenses before the second loan is disbursed.
  • You don’t have to apply for forgiveness for your First Draw loan before you apply for a Second Draw Loan. The forgiveness process for the First Draw Loan should be clarified and simplified by the end of January 2021. You have 10 months from the end of your loan forgiveness period (typically 24 weeks after disbursement of the loan) to apply for forgiveness. Contact your lender to apply for forgiveness.
  • The FORMULA for PPP loans is the same as last time, 2.5 times your monthly payroll costs and may include owner’s net profit in lieu of payroll as calculated on the Schedule C for 2019 or 2020.
  • Payroll costs consist of compensation to employees (whose principal place of residence is the United States) in the form of salary, wages, commissions, or similar compensation; cash tips or the equivalent (based on employer records of past tips or, in the absence of such records, a reasonable, good-faith employer estimate of such tips); payment for vacation, parental, family, medical, or sick leave; allowance for separation or dismissal; payment for the provision of employee benefits consisting of group health care or group life, disability, vision, or dental insurance, 62 including insurance premiums, and retirement; payment of state and local taxes assessed on compensation of employees; and for an independent contractor or sole proprietor, wages, commissions, income, or net earnings from self-employment, or similar compensation.
  • USES of the loan: At least 60% of the loan must be used for payroll costs; the remaining 40% may be used” to support the ongoing operations” such as:
  • Mortgage interest payments
  • Rent
  • Utility
  • Interest on debts prior to Feb.15, 2020
  • Refinancing an SBA EIDL locan made between Jan 31, 2020 and April 3, 2020
  • Covered operations expenditures such as business software or cloud computing service that facilitates business operations, product or service delivery, the processing, payment, or tracking of payroll expenses, human resources, sales and billing functions, or accounting or tracking of supplies, inventory, records and expenses
  • Property damange related to vandalism and looting due to public disturbances that occurred in 2020 that were not covered by insurance
  • Certain supplier costs that were essential
  • Certain worker protection expenditures

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As background, the Relief legislation will be administered by the US Small Business Administration (SBA) and included:

  •  $284 billion for a second round of the Paycheck Protection Program (PPP). The new relief package includes:
  • additional funding for new PPP loans
  • the ability to obtain a second PPP loan for small businesses facing significant revenue declines in any 2020 quarter compared to the same quarter in 2019
  • clarifications providing for the deductibility of business expenses paid with forgiven PPP loans (a material change from existing IRS guidance)
  • loan eligibility for Section 501(c)(6) not-for-profit organizations for the first time
  • $15 billion for live venues, independent movie theaters and cultural institutions
  • $20 million for the Economic Injury Disaster Loan Program

For more information about the Interim Rules:

 Business Loan Program Temporary Changes; Paycheck Protection Program as Amended by Economic Aid Act

https://www.sba.gov/sites/default/files/2021-01/PPP%20–%20IFR%20–%20Paycheck%20Protection%20Program%20as%20Amended%20by%20Economic%20Aid%20Act%20%281.6.2021%29.pdf

Second Draw Loan provisions

https://www.sba.gov/sites/default/files/2021-01/PPP%20–%20IFR%20–%20Second%20Draw%20Loans%20(1.6.2021).pdf

How to calculate maximum loan amounts by business types (particularly self-employed)

https://www.sba.gov/sites/default/files/2020-12/How-to-Calculate-Loan-Amounts-508_6-26-20.pdf

Todos Juntos Learning Center

Client Conversation with Todos Juntos Learning Center

Todos Junto learning Center is a bilingual, 2Gen nonprofit that works with children and parents simultaneously, building them up together to create meaningful opportunities for both.

We were proud to have a conversation with Christina Collazo, Founder & Executive Director at Todos Juntos Learning Center her journey, challenges during COVID-19, how EGBI has assisted them through coaching and bookkeeping services, and the impact of her programming in the community. We were also joined by EGBI’s board member and supporter Yolanda Davila, Community Relations Executive at BBVA.

  Interview with Christina Collazo, Founder & Executive Director at Todos Juntos Learning Center below.

Client Conversation with Method Hair

Centrally located in the vibrant Saltillo Lofts, Method.Hair has assembled a team of some of Austin’s most eclectic, seasoned stylists in an effort to offer every client a fashion-forward and high quality experience. Known for its award-winning team of cut and color specialists, Method.Hair has become one of the most sought-after salons since its inception in July of 2006.

We were proud to have a conversation with Sarah Statham of Method.Hair about their entrepreneur journey, challenges during COVID-19, how EGBI has assisted them through coaching, and how she has beenfited from EGBI’s bookkeeping services. We were joined by Christopher Rios of Texas Capital Bank. With the help of Texas Capital Bank, we were able to start our bookkeeping services.

Interview with Sarah Statham of Method.Hair below.

Royal Arms Cleaning, LLC

Client Conversation with Royal Arms Cleaning, LLC

Royal Arms Cleaning services specializes in cleaning commercial spaces for various industries, including, but not limited to offices, schools, retail, medical, industrial/manufacturing, restaurants, dealerships, religious facilities, event venues, etc. The company offers full cleaning services in the general night clean: vacuum, sweep and mop, garbage/recycling removal, kitchen/breakroom, restroom, etc. Additional services provided: day porter, deep clean; make-ready (move in/move out) service, post-construction clean up, window cleaning, carpet cleaning, water extraction, floor maintenance (strip and wax, machine scrub and recoat, and spray buff), power washing, and disinfecting (fogger). They use hospital grade disinfectant products that help to eliminate viruses, germs, and more.

We were proud to have a conversation  with Anne Hardin, coowner of Royal Arms Cleaning, LLC about their entrepreneur journey, challenges during COVID-19, how EGBI has assisted them through coaching, and much more. We were also joined with our supporter Cristina Valdés, local realtor with Realty Austin.

Interview with Anne Hardin below.

Lucero photography

Client Conversation with Lucero Photography

Lucero was born and raise in North Mexico and now happily living and raising my little family in Austin, Texas. She created Lucero Photography due to her passion of digital photography. She does professional headshots, family photos, and product photography.

We were proud to have a conversation with Lucero Valle-Archuleta about her entrepreneur journey, challenges during COVID-19, how she has pivoted her business, how EGBI has assisted her through coaching, and more.  We were joined by Allison Lujan with Moody Bank as moderator. Thank you ladies for the great conversation.

Interview with Lucero Valle-Archuleta of Lucero Photography below.

Client Conversation with Maria’s Taco Xpress

Maria’s Taco Xpress is a must-visit Austin icon. It’s been called eclectic and eccentric, and truly captures the best of Austin and what helps Keep Austin Weird. Deemed “South Austin’s Taco Queen” by the Austin Chronicle, owner Maria Corbalan has been satisfying taco lovers all over Austin for the past 23 years. You can often find Maria at the Taco Xpress giving out hugs, laughing, and greeting everyone warmly.

We were proud to have a conversation with Maria Corbalan about her entrepreneur journey, challenges during COVID-19, how EGBI has assisted her through coaching & bookkeeping servicces, and the delicious food served at her location.  We were joined by our community supporter Felicai Peña, Public Affairs Manager with H-E-B.

Interview with Maria Corbalan of Maria’s taco Express below.