10,000 SBA Covid-19 Economic Injury Disaster Grant Available To Small Businesses

Ruben Fields
March 31, 2020

Gehani told dentists the ADA is "here to help you understand" the best way to secure relief following the passing of the Coronavirus Aid, Relief and Economic Security Act, or CARES Act, which was signed into law March 27.

If you apply for an EIDL and the grant, you can still apply for a Paycheck Protection loan.

Applications will be accepted by qualified for-profit or non-profit small businesses that maintain a place of business in the Rapid City area.

Business counseling is available to help owners navigate challenging times. "We strongly encourage ME businesses to prepare now to take advantage of these loans". Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small businesses who maintain their payroll during this emergency.

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Last week the NJEDA announced a suite of new programs created to support businesses and workers facing economic hardship due to the outbreak of the novel coronavirus COVID-19.Earlier this month the State launched an online portal dedicated to answering business owners' questions related to the impact of the COVID-19 outbreak on businesses. "These loans will help them endure the pandemic and help mitigate its impact on Maine's economy". For businesses in the accommodation and food services sector (NAICS 72), the 500-employee rule is applied on a per physical location basis. The 500-employee threshold includes all employees: full-time, part-time, and any other status.

Borrowers are eligible to have their loans forgiven. A lender will not consider whether the borrower sought and was unable to obtain credit elsewhere.

Small corporations can get greater statistics about the U.S. Small Business Administration's disaster loan program in a webinar set for 2 p.M. Thursday, April 2.

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