SBA No Longer Taking PPP and EIDL Applications The U.S. Small Business Administration (SBA) has run out of appropriated funding for both the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) program. “SBA is unable to accept new applications at this time for the PPP or the EIDL COVID-19-related assistance program (including EIDL Advances) based on available appropriations funding,” … Read Post
PPP Loans Open Today to Self-Employed Individuals and Independent Contractors Independent contractors and individuals who are self-employed can begin applying for the Paycheck Protection Program (PPP) today. Small businesses and sole proprietors began applying a week ago. PPP provides potentially forgivable loans in amounts to cover 2.5 months of payroll or $10 million (whichever is less). To apply, … Read Post
Denver Metro Chamber to Offer Unemployment Insurance Webinar Thursday Unemployment claims are on the rise and many Coloradans are at risk of being unemployed for some period of time as a result of COVID-19. Join us to learn what policy changes have been made to support our workforce on the federal and state levels, what resources are available … Read Post
SBA Releases Official Details of Paycheck Protection Program The U.S. Small Business Administration (SBA) released the official rule for the $349 billion Paycheck Protection Program (PPP), including the formula for calculating loan amounts and what the loan can cover. Small businesses and sole proprietors can begin applying for the federal loans through their lenders today. Independent contractors and … Read Post
Lenders Can Start Accepting Paycheck Protection Loan Applications from Small Businesses on Friday On Friday, small businesses and sole proprietors can begin working with their lenders to submit loan applications for the federal Paycheck Protection Program (PPP). Independent contractors and self-employers can begin submitting applications April 10. PPP is part of the federal CARES Act enacted last week. It provides potentially forgivable loans in … Read Post
Here at the Denver Metro Chamber, we are focused on supporting our business community as we tackle the economic trauma of COVID-19. Every day, we hear how our members are adapting in innovative ways to the new environment, including interruptions in service, closures, delays and remote working – just to name a few. We know many of you need more support, especially organizations with … Read Post
President Signs Stimulus Package with Aid for Businesses and Workers President Trump signed into law the largest U.S. stimulus package ever to help provide economic relief to businesses and workers affected by the COVID-19 outbreak. The following items are among the aid included in the $2 trillion Coronavirus Aid, Relief and Economic Security Act (CARES) Act: For small businesses (those with less … Read Post
