Posted on June 19, 2020
Small Business Administration Renews Disaster Loan Program
The Federal Small Business Administration recently announced the reopening of the Economic Injury Disaster Loan (EIDL) and EIDL Advance program portal to eligible applicants that experienced economic impacts due to the COVID-19 outbreak.
According to the SBA, the “EIDL program offers long-term, low interest assistance for a small business or non-profit. These loans can provide vital economic support to help alleviate temporary loss of revenue. EIDL assistance can be used to cover payroll and inventory, pay debt or fund other expenses. Additionally, the EIDL Advance will provide up to $10,000 ($1,000 per employee) of emergency economic relief to businesses that are currently experiencing temporary difficulties, and these emergency grants do not have to be repaid.”
Updated Guidance on Indoor and Outdoor Gatherings
Earlier this week, the governor issued Executive Order 7ZZ, which makes modifications to previous executive orders to allow for yesterday’s Phase 2 reopening efforts (click here to learn more about which sectors are able to expand operations as of Wednesday). The state has also released new guidance on indoor and outdoor gatherings to be implemented using the following timeline:
Effective June 17:
Effective July 3:
Effective mid-July (date to be determined):
As a reminder, the state maintains a page with the latest COVID-19 guidance. I encourage you to check the site regularly as it is frequently updated.