While the government and health workers are making their best efforts to help manage this epidemic, small businesses are encouraged to keep employees and customers healthy. IACC will do its part to support small businesses with guiding resources during these challenging times. Here are some resources that you may find helpful.
Please note, these are not legal advice, but public information gathered for your benefit.
The Main Street Lending Program is to support small and mid-sized businesses (<10k employees or <$2.5 billion revenue). The estimated start date of the program will be in mid-May. The MSL program will operate through 2 facilities:
Source: the two facilities under Section 13(3) of Federal Reserve Act from the link below:
- Economic Injury Disaster Loan (EIDL) Emergency Advance. This loan advance will provide up to $10,000 of economic relief to businesses that are currently experiencing temporary difficulties.
- The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
- COVID-19 ECONOMIC INJURY DISASTER LOAN APPLICATION. Federal Disaster Loans for Businesses, Private Non-profits, Homeowners and Renters.
- Relief for healthcare industry under the CARES Act Relief Fund from US Department of Health & Human Services.
- Business Loan Program Temporary Changes; Paycheck Protection Program – Additional Eligibility Criteria and Requirements for Certain Pledges of Loans.
- Corona Virus Relief Options.
- Use COVID-19 data projection to anticipate action and plan accordingly.
- How fast is the virus growing. State by state data.
- COVID-19 Map – John Hopkins University.
- Search COVID-19 data by city or zip code – The Weather Channel.
For questions, please contact the SBA disaster assistance customer service center at 1-800-659-2955 (TTY: 1-800-877-8339) or