Tuesday, April 27th, 2021
with TransPecos Banks
Association in the Nation
to promote the lodging industry in Texas.
THLA Member Benefits
As the voice of the Texas lodging industry, we advocate for legislation, regulations and resources that promote a strong lodging industry in Texas.
Our lawyers are available 24/7 to provide on-demand advice and answers to all of your legal and operational questions.
THLA has partnered with TransPecos Banks, a Texas state savings bank headquartered in San Antonio, to be the endorsed source for hotel owners to obtain First and Second draw Paycheck Protection Program (PPP) loans.
The Small Business Administration (SBA) opened its application portal and TransPecos is now accepting applications online from hotels for processing first and second PPP loans.
On December 27, 2020, the Consolidated Appropriations Act (Act) was signed into law to provide financial relief to small businesses suffering from the impact of the COVID-19 pandemic.
The Act amends the Paycheck Protection Program (PPP) that was established earlier this year under the CARES Act. As before, the PPP loans will be low-interest, forgivable loans for specified purposes, designed to encourage businesses to keep employees on the payroll during the pandemic.
With the recent authorization of Round 2 of the Paycheck Protection Program (PPP), TransPecos Bank has all your questions covered.
PPP Extension: The PPP Extension Act, signed into law by President Biden on March 30, extends the PPP through May 31, 2021. This new deadline gives applicants an additional two months to apply for a first or second draw PPP loan.