We understand the concerns of COVID-19, the threat that it poses and the many questions we all have. We would like to assist in providing resource information for businesses, your employees and communities that can help you during this time of uncertainty. We are working to gather a centralized page for your reference. Below are links to some useful resources for your business as well answer questions you may have regarding the virus and steps that you can take to help stop its spread, as well as various national, state, and community resources so that you can stay up-to-date with changes that are taking place. If you have additional questions, please email email@example.com.
The U.S. Small Business Administration announced extended deferment periods for all disaster loans until 2022.
The initial deferment period was extended through March 31, 2021. An additional 12-month deferment of principal interest payments will be automatically granted to these barrowers. Borrowers will resume their regular payment schedule with the payment immediately preceding March 31, 2022, unless the borrower voluntarily continues to make payments while on deferment. It is important to note that the interest will continue to accrue on the outstanding balance of the loan throughout the duration of the deferment.
The Small Business Administration (SBA) has launched a notification system for the forthcoming Shutter Venue Operators Grant (SVOG) portal, which is currently scheduled to open on Thursday, April 8.
A free informational webinar will be held Tuesday, March 30th at 1:30 P.M. CST to assist applicants with preparing the necessary information. Click here to register.
The program was established by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, and amended by the American Rescue Plan Act. The program includes over $16 billion in grants to shuttered venues, to be administered by SBA's Office of Disaster Assistance.
Eligible applicants may qualify for grants equal to 45% of their gross earned revenue, with the maximum amount available for a single grant award of $10 million. $2 billion is reserved for eligible applicants with up to 50 full-time employees. Eligible entities may be live venue operators or promoters, theatrical producers, live performing arts organization representatives, and more per the Economic Aid Act.
Please see the detailed information about eligibility and funding at the SBA's FAQ documents.
To be ready to seize the opportunity on April 8 eligible constituents should prepare the following:
More information can be found at: www.svograntportal.sba.gov
The USDA has announced the reopening of the CFAP program - with some tweaks - as part of the Pandemic Assistance for Producers program. For more information view the head out HERE. Most livestock owners and crop farmers will receive an automatic payment based on their previous CFAP applications and will not need to re-enroll in the program.