The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employee retention criteria are met, and the funds are used for eligible expenses. The deadline to apply for a Paycheck Protection Program loan is August 8, 2020.
Did you know that SBA's Lender Match tool connects small businesses with Community Development Financial Institutions, Minority Depository Institutions, Certified Development Companies, and other lenders? If you're considering a Paycheck Protection Program loan, get matched with a participating lender today.
Supporting Entrepreneurs & Workers with Disabilities
By SBA Administrator Jovita Carranza
For the 80 kids at Milestones Day School in Massachusetts, going to school means more than receiving an education; it also means a safe place to receive therapy and develop skills for a future career.
Alex Smith-Michaels is the founder of Milestones – a school for students with disabilities. In many ways, Ms. Smith-Michaels is ideally suited for the role, as she has both autism and bipolar disorder, and has had to overcome the trauma she experienced in the educational and psychiatric systems as a result of her disabilities.
Thirty years ago, The Americans with Disabilities Act (ADA) was signed into law, enshrining the rights of more than 57 million Americans to have equal access and inclusion in society. While this advancement of equality has been monumental, entrepreneurs with disabilities still face unique barriers, including lack of funding and challenges establishing credit, as well as a significantly higher likelihood of going into business without support from family members and mentors.
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Small businesses are playing a big role during the COVID-19 pandemic, providing essential services to their communities. Food producers have been especially pivotal during this time, continuing to offer goods to consumers through retailers and restaurants – and directly to community members via farmers markets.
While farmers markets may look a little different this summer, these centers of commerce have largely continued to be staples of their communities. Farmers markets contribute about $9 billion to the U.S. economy every year, according to the U.S. Department of Agriculture (USDA). The Farmers Market Coalition (FMC) says that the number of farmers markets in the U.S. has grown from just under 2,000 in 1994 to more than 8,600 today.
Join the Second Lady of the United States, Mrs. Karen Pence, the U.S. Small Business Administration, and Hiring Our Heroes for the Military Spouse Entrepreneur Summit on August 19. This virtual event features remarks from distinguished guests, military spouse small business owner spotlights, and discussions about key resources that all military spouse entrepreneurs should leverage.
The SBA is hiring temporary employees to assist with disaster relief efforts during these unprecedented times. The positions include:
- Call Center Customer Service Representative
- Document Preparation/Legal Review/Loan Closings
- Loan Processing/Credit Analysis/Mortgage Underwriting
- Program Support
Join the SBA for a virtual town hall about COVID-19 recovery resources for Asian American and Pacific Islander (AAPI) entrepreneurs on August 3. The event will be hosted in the following eight languages:
English
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Mandarin
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Korean
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Japanese
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Vietnamese
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Hmong
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Hindi
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Chamorro
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The certification process for Women-Owned Small Businesses (WOSBs) and Economically Disadvantaged WOSBs (EDWOSBs) has changed as SBA implements Congress’ changes to the Women-Owned Small Business Federal Contracting Program (WOSB Federal Contracting Program), as put forth in the 2015 National Defense Authorization Act (NDAA). Join this webinar on August 6 to learn about the changes and the options available for obtaining a WOSB certification.
In April 2020 under the CARES Act and with the support of U.S. Small Business Administration (SBA), America's SBDC and the Association of Women’s Business Centers (AWBC) were awarded a grant to develop a new website that provides small businesses with access to a consolidation of COVID-19 related information and resources from multiple federal agencies. The grant also supports a new training platform for small business advisors.
Beware of Scams and Fraud Schemes
The Office of Inspector General recognizes that we are facing unprecedented times and is alerting the public about potential fraud schemes related to economic stimulus programs offered by the U.S. Small Business Administration in response to the Novel Coronavirus Pandemic (COVID-19). The Coronavirus Aid, Relief, and Economic Security (CARES) Act, the largest financial assistance bill to date, includes provisions to help small businesses. Fraudsters have already begun targeting small business owners during these economically difficult times. Be on the lookout for grant fraud, loan fraud, and phishing.
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Federal Coronavirus Resources
State, local, and federal agencies are working together to maintain the safety, security, and health of the American people. Check out coronavirus.gov for updates from the White House's Coronavirus (COVID-19) Task Force. Go to cdc.gov for detailed information about COVID-19 from the Centers for Disease Control and Prevention. |
Virtual Mentoring and Training
Offices around the country may be closed to the Coronavirus pandemic, but SCORE, Small Business Development Centers, Women’s Business Centers, Veterans Business Outreach Centers and other resource partners are providing free business mentoring and training by phone, email, and video.
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