FUNDING/GRANT OPPORTUNITIES
Paycheck Protection Program (PPP) Loan Portals STILL OPEN
The Paycheck Protection Program (PPP) loan portal is still open to submit First and Second Draw loan applications to the SBA. For assistance please contact our office. Deadline to apply: March 31 or until funds are exhausted.
Updated PPP lender forms, guidance, and resources
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Temporary SBA Loan Changes:
..to provide small businesses with financial tools to better transition from recovery to resiliency.
Fees temporarily waived for the 504 Loan Program. All loan applications approved between 12/27/2020 and 9/30/2021 will have their fees waived until the funds are exhausted.
Raising the guaranty rate to 90% for standard 7(a) loans, CAPLines, PLP Loans and Community Advantage Loans approved between 12/27/2020 and 9/30/2021.
Raising the maximum loan amount for SBA Express loans approved on or before 9/30/2021 to $1 million. On 10/1/2021 that amount will be permanently decreased to $500,000. Additionally, following the same timetable, the guaranty rate for loans up to $350,000 will be increased from 50% to 75% and will permanently revert back to 50%. The guaranty rate for all loans over $350,000 will remain unchanged at 50%.
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Forgivable loans up to $3,000 for Virginia-based small businesses
This loan is intended to provide immediate financial assistance to meet payroll, preserve healthcare coverage for employees and save jobs! Deadline to apply: December 31, 2023.
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Shuttered Venue Operators Grant - OPENING SOON
Available grants will be equal to 45% of gross earned revenue, with a maximum single grant award of $10 million.