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EIDL and Advance REOPENED, Webinar on 6-22 in English and Spanish and Government contracting webinar on 6-18

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June 16, 2020
  1. EIDL Reopened for all eligible businesses and non-profits

 

https://www.sba.gov/page/disaster-loan-applications#section-header-0

 

Apply link:

 

https://covid19relief.sba.gov/#/

 

SBA’s Economic Injury Disaster Loans and Advance Program Reopened to All Eligible Small Businesses and Non-Profits Impacted by COVID-19 Pandemic

 

WASHINGTON To further meet the needs of U.S. small businesses and non-profits, the U.S. Small Business Administration reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program portal to all eligible applicants experiencing economic impacts due to COVID-19 today.

 

“The SBA is strongly committed to working around the clock, providing dedicated emergency assistance to the small businesses and non-profits that are facing economic disruption due to the COVID-19 impact.  With the reopening of the EIDL assistance and EIDL Advance application portal to all new applicants, additional small businesses and non-profits will be able to receive these long-term, low interest loans and emergency grants – reducing the economic impacts for their businesses, employees and communities they support,” said SBA Administrator Jovita Carranza.  “Since EIDL assistance due to the pandemic first became available to small businesses located in every state and territory, SBA has worked to provide the greatest amount of emergency economic relief possible.  To meet the unprecedented need, the SBA has made numerous improvements to the application and loan closing process, including deploying new technology and automated tools.”

 

SBA’s EIDL program offers long-term, low interest assistance for a small business or non-profit.  These loans can provide vital economic support to help alleviate temporary loss of revenue.  EIDL assistance can be used to cover payroll and inventory, pay debt or fund other expenses.  Additionally, the EIDL Advance will provide up to $10,000 ($1,000 per employee) of emergency economic relief to businesses that are currently experiencing temporary difficulties, and these emergency grants do not have to be repaid.

 

SBA’s COVID-19 Economic Injury Disaster Loan (EIDL) and EIDL Advance

  • The SBA is offering low interest federal disaster loans for working capital to small businesses and non-profit organizations that are suffering substantial economic injury as a result of COVID-19 in all U.S. states, Washington D.C., and territories.
  • These loans may be used to pay debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact, and that are not already covered by a Paycheck Protection Program loan.  The interest rate is 3.75% for small businesses.  The interest rate for non-profits is 2.75%.
  • To keep payments affordable for small businesses, SBA offers loans with long repayment terms, up to a maximum of 30 years.  Plus, the first payment is deferred for one year.
  • In addition, small businesses and non-profits may request, as part of their loan application, an EIDL Advance of up to $10,000.  The EIDL Advance is designed to provide emergency economic relief to businesses that are currently experiencing a temporary loss of revenue.  This advance will not have to be repaid, and small businesses may receive an advance even if they are not approved for a loan.
  • SBA’s EIDL and EIDL Advance are just one piece of the expanded focus of the federal government’s coordinated response.
  • The SBA is also assisting small businesses and non-profits with access to the federal forgivable loan program, the Paycheck Protection Program, which is currently accepting applications until June 30, 2020.

 

For additional information, please visit the SBA disaster assistance website at SBA.gov/Disaster.

 

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  1. Jun 22, 2020 from 9:30am to 11:30am Updating SBA’s 5 assistance programs for businesses affected by COVID-19

in English and Spanish

 

Register in advance for this meeting:

https://us02web.zoom.us/meeting/register/tZMsce6spjMpHdZZdud18HCrHp8_fh-yL0-5 

 

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Upcoming webinars:

Thurs, June 18th 9:30am-11:30am “Doing Business with the Federal Government” https://us02web.zoom.us/meeting/register/tZEkdu6qqDwvGN3QmPeRqMejEDxyoWCWWcYW

Learn How and What the Federal Government buy, Certification for Set Aside, Marketing to the Government Agencies, Subcontracting, Resources and Assistance

● Why Sell to the Government; ● How Government Buy; ● What the Government Buy; ● Certification for Set Aside; ● Subcontracting; ● Marketing to the Government; ● Assistance and Resources.

 

□ Speakers:

Ms. Man-Li Lin, Economic Development Specialist, SBA

Vanessa Best, Precision Healthcare Consultants

 

 

  • Wed. June 17th from 3pm-5pm “Doing Business with he Federal Government” in Chinese

中文 6/17 (星期三紐約時間下午3點中文網課  "如何和聯邦政府作生意"

請登記

https://us02web.zoom.us/meeting/register/tZApce-sqzsiHtOhxT1zAPcyO8LkD27jfRP0

 

 

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