FEDERAL SUPPORT

EDA - Revolving Loan Fund Program 

EDA provides Economic Adjustment Assistance grants to eligible recipients to capitalize or recapitalize lending programs that service businesses that cannot otherwise obtain traditional bank financing (and in limited situations to governmental entities for public infrastructure). These loans provide access to capital as gap financing to enable small businesses to grow and generate new employment opportunities with competitive wages and benefits. Financing also helps retain jobs that might otherwise be lost, create wealth, and support minority and women-owned business.

SBA Disaster Loans during COVID-19  

COVID-19 EIDL – Deadline Dec 16, 2020 If you are a small businesses, nonprofit organization of any size, or a U.S. agricultural business with 500 or fewer employees that have suffered substantial economic injury as a result of the Coronavirus. 

SBA Debt Relief – If you are a current borrower under SBA 7(a), 504 loan program or a microloan, you are eligible for debt relief and SBA will cover all loan payments for 6 months.  

Additional $600 per week in unemployment benefits, and an expansion covering part-time workers, gig workers, self-employed workers and contractors. 

Two weeks of paid sick leave for quarantined workers. 

Paid leave to care for sick family members and extended leave to care for children out of school. 

Distribution of $1.1 million in layoff aversion funds to local workforce boards. 

Please contact the organizations directly if you have specific questions about eligibility and availability.

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