This informational gap has created confusion and uncertainty for lenders and borrowers and has made it difficult for them to make management decisions. As a result, we recommended that SBA develop and implement a process to ensure timely communication with lenders. Participation in the Paycheck Protection Program is open to businesses, 501 nonprofits, and veterans’ organizations that have fewer than 500 employees or meet one of SBA’s industry-specific small business thresholds.

Lack of clear communication between SBA and lenders or small businesses and vulnerabilities to fraud are among the challenges EIDL and PPP have faced. Workers are not eligible for PUA if they can either telework with pay or are receiving paid sick days or paid leave. Raises (from 30% to 50% of taxable income) the limitation on interest that businesses are allowed to deduct from their 2019 and 2020 taxes.

Find the Pandemic Business Recovery Initiative Programs That Are Right for Your Business

$28.5 billion to 100,000 restaurants, food trucks, street food vendors, breweries, and other food service businesses through the Restaurant Revitalization Fund. 27 percent of these businesses were located in LMI areas and 15 percent were from rural communities. Increase loans to rural small businesses by 40 percent.The number of PPP loans made to rural small businesses was up 40 percent from 2020, from 1 million in 2020 to 1.4 million loans made in 2021. CA Permit & Regulatory https://www.bookstime.com/ AssistanceGO-Biz permit experts offer comprehensive permit and regulatory compliance assistance to all businesses in California by serving as the central source of permit guidance. For information about state permits and fees, vist the CalGold permits portal. CA Department of Industrial Relations offers guidance on workplace safety and health regulations during the COVID-19 global pandemic. The COVID-19 Prevention Emergency Temporary Standards are still in effect.

NATIONAL -A Better Balance – A free helpline that offers answers to questions about the law for workers facing issues at work related to sick, family, or medical leave. NATIONAL -DoorDash COVID-19 Financial Assistance Program – Financial assistance for eligible Dashers that are diagnosed with COVID-19 and have been active on the DoorDash platform for at least 60 days and have completed at least 30 deliveries in the last 30 days. NATIONAL – Fit Pro Relief Fund – A relief fund from Inspire 360 for fitness professionals that have been most impacted by COVID-19. GENYOUth For School’s Sake – Providing grants of up to $3,000 per school to supply much-needed resources for meal distribution and delivery. Loans Available for Nonprofits in the CARES Act – chart from National Council of Nonprofits providing details on loan options, eligibility criteria, terms, and application information.

Loan and line of credit relief

The Coalition helps small businesses and non-profit entities in the greater Boston area with one-on-one advice about access to emergency loans and other sources of relief. The Coalition will also provide you with free pro bono legal advice from an attorney and should respond to your request for help within 24 hours. The COVID-19 public health crisis and resulting economic crisis have created a variety of challenges for small, micro, and solo businesses in communities across the country.

• Are they diversified or are you relying on one source for your products?
• As a service to members, we will attempt to assist members who have limited English proficiency where possible.
• If a borrower requests assistance after September 30, 2021, relief may still be provided under our standard guidance found in the Special Relief Section of Chapter 18.
• If you are planning to refinance your home, closing times are estimated to take days.

All DMVs offer online transactions and processing by mail, but many are conducting in-office transactions by appointment only. Check with your local office to see whether they’re open for full service or if they have reduced hours/limited operations. Late fees will be waived once the plan is completed, even though your loan may still show past due in your NFCU account page online and may show assessment of late fees.

Free Legal Assistance for Small Businesses

The Shuttered Venue Operators Grant program was established by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, and amended by the American Rescue Plan Act. Employee Retention Creditshave been available to employers affected by COVID-19.

USDA’s guaranteed Business & Industry, Rural Energy for America Program programs may approve and make covered loans under the PPP. Guaranteed lenders must notify USDA Rural Development in writing of any covered loans made under the PPP. Written notification will meet the standard for concurrence until Sept. 30, 2020. USDA intends to consider applications in the order they are received.

Offices

A business with zero employees was eligible to receive CARES ACT funding. On March 18, 2020, the City of San Diego outlined an economic relief package that reduces fees, provides certainty and offers support to local employers. More than 4,000 applications were received, and grant recipients are expected to be announced in mid- to late-November. Incentives and programs are available to help launch, grow and expand your business, and provide support for homeowners and contractors to get work done. If you have federally owned student loans, you don’t need to contact your student loan servicer or take any action.

• Michigan small businesses with 250 employees or less can now apply for a Michigan Occupational Safety and Health Administration matching grant up to $5,000 to make improvements to their workplace safety and health.
• California Rebuilding Fundis a public-private loan program to support the smallest of California’s small businesses, especially those located in economically disadvantaged and historically underresourced areas of the state.
• Not require discounting of collateral for working capital loans, and Extend the maximum term for working capital loans to 10 years.
• Qualifying businesses include live venue operators or promoters, theatrical producers, live performing arts organization operators, museum operators, zoos and aquariums, motion picture theater operators, and talent representatives.

Be prepared to wait, and also check your companies website for online options. In 2020 and 2021, Thomas Pandemic Relief Loans submitted at least 10 PPP application and three EIDL applications for companies she controlled.

Oklahoma Broadband Provider Doubles Speed for Customers During Coronavirus

For properties with a Section 538 Loan Guarantee, the lender holds the reserves. The lender is required to protect the value of the asset, which includes proper use of reserves to protect the financial interest of the property. The lender has the discretion to use the reserves if it is in the best financial interest of the property (Handbook , Chapter 7 Section 7). Evictions of borrowers from properties financed with a USDA direct home loan. This list will certainly grow as new questions are asked and answers are given and even updated as circumstances dictate.