The Federal Reserve is expanding the range of companies that will qualify for its soon-to-begin Main Street Lending Program, in which the Fed will lend directly to individual companies for the first time since the Great Depression.
The new law addresses flaws in the original PPP program created under the CARES Act, including:
- Reduces minimum amount of loan used for payroll from 75% to 60%
- Extends the time period for use of funds from 8 weeks to 24 weeks
- Pushes the deadline to rehire workers to Dec 31, 2020
- Eases rehire requirements
- Extends repayment terms for unforgiven portion of loan from 2 years to 5 years
'Safety First" is a comprehensive guide developed by the James Beard Foundation and the Food and Society Program at the Aspen Institute
Small businesses receiving a Paycheck Protection Plan loan will seek all or most of their PPP loan to be forgiven. Here's how to start thinking about that process.
Here's what small businesses and the Occupational Safety and Health Administration recommend when planning to reopen your business as safely as possible.
Up to 30,000 eligible small businesses in more than 30 countries where Facebook operates will be able to receive the grant. Sign up to receive information about the program and to be notified when applications open for the Denver Metro area.
It will be years before we fully understand the economic impact of the coronavirus, but one thing is painfully clear right now: Small businesses across the country are facing an existential threat.
The State of Colorado - OEDIT has established a Small Business Navigator Hotline and Email for businesses seeking general guidance, information on access to capital programs, workforce development concerns, and other areas.
Hotline: (303) 860-5881
Inc.'s solutions center offers expert advice on handling panicked customers, interrupted supply chains, webinars, Zoom meetings, hyper kids, and a work environment that changes by the hour.
You can apply online for all types of SBA disaster assistance loans. The online application is the fastest method to receive a decision about your loan eligibility.
The package includes a $367 billion program for small businesses to help them continue to make payroll. It would expand unemployment benefits and also make direct payments to most Americans
North Metro economic development specialists and experts from the SBA, SBDC and OEDIT joined forces to present a forum on tools, tips and advice for businesses trying to navigate the COVID-19 crisis.
The department of labor said they may be able to remove unemployment restrictions like job searching to speed up payments
Restaurateur Martha Hoover, who oversees 12 restaurants and more than 400 employees, on making decisions in a constantly changing environment