by loudounsbdcdev | Apr 2, 2020 | COVID Archives
The Small Business Association (SBA) has launched a tool for businesses to find lenders in their area. Click here to use the tool. Note: Lenders are not required to participate.
by loudounsbdcdev | Apr 2, 2020 | COVID Archives
Generally, a business can apply for loans under both the Paycheck Protection Program and the EIDL program but must use the EIDL for a purpose other than covering payroll costs. To determine whether to apply for a Paycheck Protection Program loan or EIDL, businesses...
by loudounsbdcdev | Apr 2, 2020 | COVID Archives
The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed...
by loudounsbdcdev | Mar 31, 2020 | COVID Archives
On March 30, 2020, Governor Ralph Northam issued a executive stay at home order due to the COVID-19 pandemic. The order remains in place through June 10, 2020. As part of the order, “essential” businesses remain open. This generally includes grocery stores,...
by loudounsbdcdev | Mar 25, 2020 | COVID Archives
Note: Currently VFA is suggesting small businesses use the SBA EIDL and PPP loans for COVID disaster assistance (at least at this time.) The Virginia Small Business Financing Authority (VSBFA) is the Commonwealth of Virginia’s business and economic development...