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Webinar with Senator Tim Kaine & Paycheck Protection Program Information

On Monday, April 6 at 1:00 p.m., Chamber members have the special opportunity to hear Senator Tim Kaine share
up-to-date information for businesses about the COVID-19 pandemic. The is a special briefing organized by the Arlington Chamber in partnership with the Virginia Association of Chamber of Commerce Executives (VACCE). The briefing will be moderated by the VACCE President and include a facilitated Q & A session. This event is free for Arlington Chamber members to participate, and is first come first served with only 500 spots across the Commonwealth available.
Paycheck Protection Program (PPP)

Paycheck Protection Program (PPP) is the part of the CARES Act that helps small businesses borrow funds for employee retention and select other operational expenses , with a 100% federal government guarantee and the possibility of some loan forgiveness if the business meets certain targets.

The United States Treasury Department has created a website with some basic information and a loan application form that you can begin to fill out. The Treasury states that small businesses and sole proprietorships can apply starting this Friday, April 3, and that independent contractors and self-employed individuals can apply starting next Friday, April 10.

The Small Business Administration’s existing programs, including the Economic Injury Disaster Loan (EIDL) program are also available. The criteria and terms of the EIDL are different from the PPP, and you are able to apply for both loans if using the funds for different purposes. EIDL applicants can also apply to the SBA for a $10,000 advance, which is forgivable under certain circumstances.

We recommend speaking with an attorney and an accountant, as appropriate, about the circumstances of your business.