Good Morning Partners, Clients and Friends,
PAYCHECK PROTECTION PROGRAM REOPENS MONDAY
The SBA will resume accepting Paycheck Protection Program applications from participating lenders on Monday, April 27, 2020 at 7:30 AM.
If you are seeking additional capital through the Paycheck Protection Program, we highly encourage you to review our
Federal Funding Preparation Guide
in advance of any application you may submit.
SBA'S ECONOMIC INJURY DISASTER LOAN STATUS
With the additional funding provided by the new COVID-19 relief package, SBA will resume processing EIDL Loan and Advance applications that are already in the queue on a first come, first-served basis.We will provide further information on the availability of the EIDL portal to receive new applications (including those from agricultural enterprises) as soon as possible.
LOCAL FUNDING OPTIONS
EDC DISASTER LOAN FUND
EDC is offering $5,000- $50,000 at 4.25% interest and a 48 month term through our Disaster Loan Fund to give a cash flow boost to businesses impacted by reduced sales, supply chain disruption or other challenges related to COVID-19. Email loans@edcollaborative.com for more information.
WOMEN’S ECONOMIC VENTURES (WEV) QUICK RESPONSE LOAN
WEV’S Quick Response Loan is designed to provide financial support to businesses experiencing economic hardship. Loans of up to $10,000, with a 4.5% fixed interest rate and 36 month repayment term are available to eligible businesses. Visit
WEV’s
website for more information.
