Applications REOPENED for the SBA’s Economic Injury Disaster Loan (EIDL) and EIDL Advance Program
Yesterday, the Small Business Administration (SBA) announced that it had reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program portal, which had been closed since April 15, 2020. SBA’s EIDL program offers long-term, low interest assistance for a small business or non-profit. EIDL assistance can be used to cover payroll and inventory, pay debt or fund other expenses. Additionally, the EIDL Advance will provide up to $10,000 ($1,000 per employee) of emergency economic relief to businesses that are currently experiencing temporary difficulties, and these emergency grants do not have to be repaid.
June 30th Application Deadline for Paycheck Protection Program
The deadline to apply for the federal Paycheck Protection Program (PPP) is June 30, 2020. Businesses interested in applying for a PPP forgivable loan should note that June 30th is deadline for banks to apply to the Small Business Administration (SBA), and should therefore reach out to their banks to begin an application as soon as possible to ensure that adequate time for banks to gather application materials.
Free Paycheck Protection Program (PPP) Loan Forgiveness Webinar: The Newton-Needham Chamber is hosting a free webinar on PPP loan forgiveness on June 18th from 10:00-11:30 AM. The webinar will explore recent changes to the Small Business Administration’s Paycheck Protection Program as well as the program’s guidelines and forgiveness features. After the presentation you will have time for questions. Presented by lli Spahiu, Assistant District Director for Lender Relations Massachusetts District Office U.S. Small Business Administration. Register here.
June 18th Virtual Town Hall Meeting for Brookline Businesses and Nonprofits: Join us this Thursday, June 18th, at 9am via Zoom for a weekly virtual town hall meeting for the Brookline business and nonprofit community. Agenda available here. Economic Development and Public Health staff will provide updates and answer Q&A. Todd Kirrane, the Town’s Transportation Administrator, will also provide updates on several initiatives including the expansion of the Town’s extended streets initiative, the future of Delivery Only parking signs, and outdoor seating.
Zoom videoconference link: https://us02web.zoom.us/j/88644465341
Phone: +1 312 626 6799
Webinar ID: 886 4446 5341