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Federal opportunities for Small Business & Non-profit Support: A Crash Course on COVID-19 Response 1

April 9, 2020 @ 11:00 am - 12:00 pm

COVID-19 Response

The federal government has recently passed legislation responding to the COVID crisis, which includes two important programs for Small Businesses, including non-profits. These can be very helpful for those who are struggling to make ends meet – especially for early care and education providers and other child-serving organizations – while we grapple with this public health emergency. The Mary Black Foundation, United Way of the Piedmont and ICS are facilitating a webinar to discuss two of these programs, what they do, and how you can access them. We also expect to make this fairly interactive, so please bring your questions.


Paycheck Protection Program & Economic Injury Disaster Loan

The first program we’ll cover is the Paycheck Protection Program (PPP) – a forgivable loan, meaning that it can function much like a grant, to support small businesses with up to 2.5 months of payroll and certain other expenses (rent/mortgage, utilities). Funding for this is limited, and is given out on a first-come first-served basis.


The second is the Economic Injury Disaster Loan (EIDL). This loan is a longer-term loan designed to help keep business afloat despite Economic Injury from COVID. This is not like a grant, but more like a mortgage (30-year term with a low interest rate). It also allows for an “emergency advance” loan of up to $10,000 for businesses currently facing crisis-related difficulties.


What will we cover?

  • Who is eligible?
  • Where and when do I apply (we’ll walk you through)
  • How much can I borrow?
  • How does repayment work?…How much can be forgiven?


Institute for Child Success
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