Area businesses,
It seems we are all receiving more information than we can process currently. I wanted to send out a note and only mention one program.
At the moment, we feel the best opportunity for a business to get an emergency injection of funds (up to $10,000) would be through the
SBA’s Economic Injury Disaster Loans & Emergency Economic Injury Grants
. If you apply and are awarded, funds may be received within 3 days and do not have to be repaid.
These grants provide an emergency advance of up to $10,000 to small businesses and private non-profits harmed by COVID-19 within three days of applying for an SBA Economic Injury Disaster Loan (EIDL).
To access the advance, you first apply for an EIDL and then request the advance.
The advance does not need to be repaid under any circumstance
, and may be used to keep employees on payroll, to pay for sick leave, meet increased production costs due to supply chain disruptions, or pay business obligations, including debts, rent and mortgage payments.
If you have not already, please review and consider completing this application. You can look over this application and complete it on your own without the huge amount of information that is required by some of the other programs we are evaluating.
Area lenders, government entities and others are reviewing SBA program information as it comes out and are interested in helping businesses as well. Please contact your financial institutions as well.
Best regards,
Brian Moody
