To view that video and download additional resources;including the application please CLICK HERE
Economic Injury Disaster Loans
- What businesses are eligible to apply?
- SBA’s Economic Injury Disaster Loans (or working capital loans) are available to small businesses, small agricultural cooperatives, aquaculture businesses, and most private nonprofit organizations.
- Examples of eligible industries include, but are not limited to: hotels, sports vendors, owners of rental property, restaurants, retailers, travel agencies, wholesalers, and more.
- How much can I borrow?
- Eligible entities may qualify for loans up to $2 million.
- The interest rates for this disaster are 3.75% for small businesses and 2.75% for nonprofit organizations with terms up to 30 years.
An overview of the program and more detailed information can be found in this PDF presentation. as well as on our website.For a complete list of paper forms, and information on how and where to apply – please click here.
U.S. Department of Labor Publishes Guidance – Explaining Paid Sick Leave and Expanded FMLA under the Families First Coronavirus Response Act
March 24, 2020: U.S. Department of Labor’s Wage and Hour Division (WHD) announced its first round of published guidance to provide information to employees and employers about how each will be able to take advantage of the protections and relief offered by the Families First Coronavirus Response Act (FFCRA) when it takes effect on April 1, 2020.
FFCRA will help the United States combat and defeat COVID-19 by giving all American businesses with fewer than 500 employees funds to provide employees with paid leave, either for the employee’s own health needs or to care for family members. The legislation will ensure that workers are not forced to choose between their paychecks and the public health measures needed to combat the virus while at the same time reimbursing businesses.
The guidance – provided in a Fact Sheet for Employees, a Fact Sheet for Employers and a Questions and Answers document – addresses critical questions, such as how an employer must count the number of their employees to determine coverage; how small businesses can obtain an exemption; how to count hours for part-time employees; and how to calculate the wages employees are entitled to under this law.