Tag: SBA

SBA Economic Injury Disaster Loan (EIDL): Navigating Reconsideration, Increases, and Advance Grants

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Do you have questions regarding the SBA Economic Injury Disaster Loan (EIDL) application process, appeals and reconsideration, increases and Advance grants?

Join representatives from the SBA’s Seattle District Office for the latest information including tips and guidance for navigating the reconsideration process if your application is declined or withdrawn, requesting a loan increase (up to new $2 million cap), and applying for the EIDL Advance grants.

We will host a Q&A session as time allows – feel free to submit your questions in advance when registering. If you are unable to attend the live webinar, please register to receive an email link to the recording.

Small Business Resources for Preparedness, Relief, Recovery, and Resiliency.

The Small Business Administration (SBA) & Public Private Strategies Institute (PPSI) are providing educational opportunities for you to learn more about programs that will help your business get back on track. These sessions will take place every two weeks, starting next week and running through December 2021.

This is part of an effort to ensure that American small businesses know about the many resources to help their business grow and additional resources to help their businesses thrive!

Please join us for a webinar hosted by the U.S. Small Business Administration and Public Private Strategies Institute to:

-Learn more about COVID EIDL and how you can take advantage before December 31, 2021
-Discover tools and resources you can use to start and grow your business
-Have your questions answered by SBA Leadership & small business experts
-Learn how you can become a vaccine leader in your community
-Get an update regarding programs and recent policy announcements made by the Biden-Harris Administration

National Small Business Week Virtual Summit

Register here: https://pxlme.me/kvsbXY8B

 

Celebrating resilience and renewal

Meet other business owners and get expert advice at this free 3-day conference

 

About National Small Business Week

For more than 50 years, the U.S. Small Business Administration has celebrated National Small Business Week (NSBW), which recognizes the critical contributions of America’s entrepreneurs and small business owners. This year is one unlike the half-century that has come before.

We are facing unique challenges together. However, American small businesses continue to play a central role in building a strong country, prepared for any obstacles in the future.

More than half of Americans either own or work for a small business, and they create nearly two out of every three new jobs in the U.S. each year. As part of NSBW, the SBA takes the opportunity to highlight the impact of outstanding entrepreneurs, small business owners, and others who support entrepreneurship from all 50 states, Washington, D.C. and U.S. territories. Additionally, this year’s NSBW will recognize the small businesses who have navigated the coronavirus pandemic while supporting their employees and communities. There will be a number of presenters providing retooling and innovative practices for entrepreneurs as our nation’s small businesses look to pivot and recover towards a stronger economy.

Every day, they’re working to grow small businesses, create 21st-century jobs, drive innovation, and increase America’s global competitiveness.

Funding Still Available: SBA EIDL Program Update

Register here: https://pxlme.me/EIDLupdate2

 

We will provide simultaneous interpretation to assist non-English speakers. Indicate language preference when registering.

 

Small businesses and nonprofits still have time to apply for long term 30-year, low interest loans and small grants through the SBA’s Economic Injury Disaster Loan (EIDL) Program.

 

Join representatives from the U.S. Small Business Administration (SBA) as they provide updates and share everything you need to know about these EIDL programs. Translated versions of the EIDL application will also be available for notetaking during the webinar.

 

General EIDL Program Overview:

  • 30-year loans for up to $500,000 at a 3.75% fixed interest rate (2.75% for nonprofits) with no pre-payment penalty
  • Two grant programs, the $10,000 – Targeted EIDL Advance and the $5,000 -Supplemental EIDL Advance are earmarked for businesses in low-income communities. To be considered for these grants, an organization must apply for a loan. Organizations can be awarded grants even if they are denied a loan or decide not to accept it

 

Expected updates to the EIDL Program include:

  • Raising the maximum loan amount from $500,000 up to $2 million while also increasing the aggregate loan cap up to $10 million
  • A waiver of affiliation rules (that mirrors that of the Paycheck Protection Program)
  • Funds can now be used to pay down prior commercial debt and make monthly payments towards federal debt (including principal and interest payments)

 

We will host a Q&A session as time allows – feel free to submit your questions in advance when registering. If you are unable to attend the live webinar, please register to receive an email link to the recording.

 

Update on EIDL: Train the Trainer

Register here: https://pxlme.me/trainer2

The purpose of this webinar is to “train the trainer” in an effort to help as many businesses and nonprofits as possible access Economic Injury Disaster Loan and grant (EIDL) funds, particularly those that have been traditionally underserved and underfunded. A representative from the Small Business Administration (SBA) will orient organizations to the EIDL program so that they can provide information and assist their constituents.

This webinar will cover:

  • Important updates to the EIDL program
  • Commonly asked questions, and areas where applicants are having trouble
  • Information that applicants need to provide as part of the application process

EIDL applications must be submitted in English which can be a barrier for many applicants for whom English is a second language. Simultaneous interpretation for this webinar will be provided in Arabic, Chinese,  Korean, Russian, Somali, Spanish, and Vietnamese. Please indicate your language preference on the registration form.

New SBA PPP Forgiveness Portal Webinar

Register here: https://pxlme.me/PPPPortal2

Join us to learn more about the SBA’s New PPP Forgiveness Portal which was launched on Wednesday, August 4th. This portal allows businesses with Paycheck Protection Program (PPP) loans of $150,000 or less to submit simple forgiveness applications directly to SBA, as long as their specific lender participates in the portal. Over 600 banks have opted in, enabling over 2.17mm borrowers to apply through the portal — this represents 30% of loans $150,000 or less that have not yet submitted for forgiveness.

The webinar will review:

  • Who is eligible to use the SBA PPP Direct Forgiveness Portal
  • What information you will need
  • How to create a login and apply for forgiveness
  • Where to get help with your application

NOTE: all PPP borrowers are required to submit forgiveness applications within 10 months of the last day of your covered period in order to convert your loan to a grant that does not need to be paid back. For loans above $150,000, you will need to submit your forgiveness application directly to your bank lender.

We will host a Q&A session as time allows – feel free to submit your questions in advance when registering. If you are unable to attend the live webinar, please register to receive an email link to the recording.