City of Irving and The Study working on small business loan program

Wright Connatser’s Tom Foley leads The Study to help women- and minority-owned businesses

Posted September 2, 2020

Tom Foley, Of Counsel at Wright ConnatserTom Foley is obviously a man of many talents. Not only is he of counsel to Wright Connatser, but also he is the founder and director of The Study USA in Irving, a business resource center empowering women-owned and minority-owned businesses. The Study has been working with the City of Irving Office of Economic Development to prioritize funding to the city’s small businesses. A qualifying small business can receive up to $50,000 in a forgivable loan in order to withstand the economic challenges brought on by the Covid-19 pandemic.

Irving small business owners who are interested should act fast because the pre-application deadline is Sunday, September 6.

The Study is offering free consultations for businesses that pre-qualify to help the businesses complete the full application and ensure that they are positioned to receive this financial assistance.

Tom and The Study have been busy with other programs to support the survival of small businesses, which create nearly two million jobs nationally each year, employ up to 47 percent of the entire workforce and contribute 44 percent of the U.S. GDP. “It’s My Business” was a webinar series focused on guiding small businesses navigating the stimulus funding as well as to position their businesses to shifting consumer behavior. The first webinar had more than 1,500 registered – certainly an indication of the need. This also led to assisting LiftFund Women’s Business Center (WBC), working with women-owned businesses to mitigate the impact of COVID-19.

Here’s some wisdom that Tom shares with small business owners who seek support through The Study:

Our business environment has shifted – it is Business As …

  • Unusual…and you must
  • Understand your consumers…and you must
  • Understand your operations…and you must
  • Understand your cash flow…and you must
  • Understand and implement your new strategy