Please see the Small Business COVID-19 Relief Resource Links below, courtesy of the US Commercial Service.
-The SBA EIDL and EIDL Advance Portal has been re-opened!
-Main Street Lending Program is open for lenders to register
-PPP Key updates – time is getting short for PPP applications.
If you had interest but perhaps not sure if it was a good fit, you might want to review the latest updates:
-requirement to spend 75% of funds on payroll changed to 60%
-there is more time to use the loan (from 8 weeks to 24 weeks)
-more time to re-hire workers (deadline was June 30 now is Dec 31)
-don’t delay – to be eligible borrowers must get their loan application numbers by June 30! Clients should be talking to SBA and/or SBDC as soon as possible.
-Treasury Department Community Development Financial Institutions Fund
Mission: The CDFI Fund’s mission is to expand economic opportunity for underserved people and communities by supporting the growth and capacity of a national network of community development lenders, investors, and financial service providers. https://www.cdfifund.gov/about/Pages/default.aspx
- Posted by Joe DeSilvetri
- On June 24, 2020
- 0 Comments