Your money resources during COVID-19 and beyond: explained.

You and your money have options right now. Getty Images

Now may be a time of uncertainty, but you shouldn't have to also worry about the availability and security of your money. Texas Citizens Bank is always available to answer questions — COVID-19-related and otherwise — and has laid out some options for those wondering what sort of financial resources are available.

SBA loan
Cash flow is a business' life blood. The Small Business Administration is working with local banks to offer helpful business resources during this challenging time.

The Paycheck Protection Program provides small businesses — including independent contractors and the self-employed — with the funds to pay up to eight weeks of payroll costs, including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities.

Those interested in applying for a Paycheck Protection Program loan through the SBA are encouraged to apply through their current financial institution as that will likely be the quickest route to receiving funding.

Loan payments will also be deferred for six months. No collateral or personal guarantees are required, and neither the government nor lenders will charge small businesses any fees. For more information about PPP, head here.

The SBA also offers low-interest disaster recovery loans to help businesses and homeowners recover from declared disasters. They can be used for both physical damage repairs and economic injury, the latter up to $2 million in assistance for businesses and nonprofits to help overcome their temporary loss of revenue.

Accounts receivable purchase solution
Accounts receivable purchase solution provides cash upfront for your invoices. TCB will check your customer's creditworthiness and, once approved, the bank will purchase one or more accounts receivable from that customer. You get the majority (usually 80 percent) of your AR amount upfront and accrue daily fee (for example, if you get paid the next day, you're only charged for one day). Once your customer pays the AR, TCB pays you the remaining balance, minus a small fee.

TCB's AR purchase solution ranges from $10,000-$1 million and doesn't have a long-term contract, allowing you the flexibility to pick and choose which invoices you'd like to sell to the bank. Find out more about how Accounts Receivable Purchase Solution works here.

How to bank from home
Most banks offer online banking and mobile apps with the following features:

  • Mobile check deposit — deposit checks simply by taking a photo of them using your mobile banking app
  • Online bill pay — pay your internet, electricity, gas, and other recurring bills online or through the app
  • Account summary — check your account balance and view your recent transactions
  • Some apps, like the Texas Citizens Bank app, offer additional services like budgeting, spending alerts, and peer-to-peer payment services, so you can quickly and securely monitor your spending and pay a friend or family member

Lastly, be on the lookout for financial scams. Fraudsters and scam artists tend to take advantage of uncertain times like these. Email, text, and phone scams are rampant, so please be careful to check that all communication you receive is truly from your bank. If you are unsure of a communication's validity, don't respond or giveaway any personal information. Always contact your bank directly to check.

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A new AI-optimized COVID screening device, a free response resource, and more — here's your latest roundup of research news. Image via Getty Images

Researchers across the Houston area are working on COVID-19 innovations every day, and scientists are constantly finding new ways this disease is affecting humankind.

From a COVID breathalyzer to a new collaboration in Houston — here's your latest roundup of local coronavirus research news.

A&M System to collaborate on a COVID-19 breathalyzer

A prototype of the device will be used on the Texas A&M campus. Photo via tamu.edu

Researchers at Texas A&M University System are collaborating on a new device that uses artificial intelligence in a breathalyzer situation to detect whether individuals should be tested for COVID-19. The technology is being developed through a collaboration with Dallas-based company, Worlds Inc., and the U.S. Air Force.

The device is called Worlds Protect and a patient can use a disposable straw to blow into a copper inlet. In less than a minute, test results can be sent to the person's smartphone. Worlds Inc. co-founders Dave Copps and Chris Rohde envision Worlds Protect kiosks outside of highly populated areas to act as a screening process, according to a news release.

"People can walk up and, literally, just breathe into the device," says Rohde, president of Worlds Inc., in the release. "It's completely noninvasive. There's no amount of touching. And you quickly get a result. You get a yay or nay."

The university system has contributed $1 million in the project's development and is assisting Worlds Inc. with engineering and design, prototype building and the mapping of a commercial manufacturing process. According to the release, the plan was to test the prototypes will be tried out this fall on the Texas A&M campus.

"Getting tech innovations to market is one of our sweet spots," says John Sharp, chancellor of the Texas A&M System, in the release. "This breakthrough could have lasting impact on global public health."

Baylor College of Medicine researchers to determine cyclosporine’s role in treating hospitalized COVID-19 patients

BCM researchers are looking into the treatment effect of an existing drug on COVID-19 patients. Photo via BCM.edu

The Baylor College of Medicine has launched a randomized clinical trial to look into how the drug cyclosporine effects the prevention of disease progression in pre-ICU hospitalized COVID-19 patients. The drug has been used for about 40 years to prevent rejection of organ transplants and to treat patients with rheumatoid arthritis and psoriasis.

"The rationale is strong because the drug has a good safety profile, is expected to target the body's hyperimmune response to COVID and has been shown to directly inhibit human coronaviruses in the lab," says Dr. Bryan Burt, chief of thoracic surgery in the Michael E. DeBakey Department of Surgery at Baylor, says in a press release.

Burt initiated this trial and BCM is the primary site for the study, with some collaboration with Brigham and Women's. The hypothesis is that the drug will help prevent the cytokine storm that patients with COVID-19 experience that causes their health to decline rapidly, according to the release.

The study, which is funded by Novartis, plans to enroll 75 hospitalized COVID-19 patients at Baylor St. Luke's Medical Center who are not in the ICU. There will be an initial evaluation at six months but Burt expects to have the final study results in one year.

Rice launches expert group to help guide pandemic response

A new response team is emerging out of a collaboration led by Rice University. Photo courtesy of Rice

Rice University is collaborating with other Houston institutions to create the Biomedical Expert Panel, supported by Texas Policy Lab, to assist officials in long-term pandemic recovery.

"Not all agencies and decision-makers have an in-house epidemiologist or easy access to leaders in infectious disease, immunology and health communications," says Stephen Spann, chair of the panel and founding dean of the University of Houston College of Medicine, in a news release. "This panel is about equity. We must break out of our knowledge siloes and face this challenge together, with a commitment to inclusivity and openness."

The purpose of the panel is to be available as a free resource to health departments, social service agencies, school districts and other policymakers. The experts will help design efficient public health surveillance plans, advise on increasing testing capacity and access for underserved communities, and more.

"The precise trajectory of the local epidemic is difficult to predict, but we know that COVID-19 will continue to be a long-term challenge," says E. Susan Amirian, an epidemiologist who leads the TPL's health program, in the release. "Although CDC guidelines offer a good foundation, there is no one-size-fits-all approach when managing a crisis of this magnitude across diverse communities with urgent needs."

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