The new federal laws passed may help your small business in these Covid-19 times. Here are links to various resources under the “CARE ACT”:
Click here for a helpful guide to relief is available to different types of businesses or organizations.
Click here for an explanation of the Small Business Administration Coronavirus Economic Injury Disaster Loans. *Grants of up to $10,000 are available within three days, regardless of approval: A cash advance (grant) of the loan, up to $10,000, can be provided to the borrower upon request. SBA is required to provide the grant within three days of receiving the loan application. The grant is provided regardless of whether the borrower is ultimately approved for the loan and does not have to be repaid.
Click here to access the Coronavirus Response Fund will provide flexible resources to organizations in our region working with communities who are disproportionately impacted by coronavirus and the economic consequences of this outbreak.
Click here to learn about Small Business Express Loans. These are for small businesses who need quick a one-time loan for a major expense. Example: A restaurant needs to replace a walk-in refrigerator.
Click here for a guide on the Emergency Stabilization Fund.
Here is more information on Business Tax Provisions including payroll tax deferral.
Click here for more information. It is expected that the U.S. Treasury, Small Business Association and other agencies will need some time to fully implement these resources and application features, though it is hoped that most will be operational in the next two weeks.