4/11/2020 - Small Business Administration (SBA) Offers Temporary Funding Opportunities for Small Businesses
With the tough times faced by the many as a result of the Covid-19 pandemic, we wanted to make sure that each of our small businesses are aware of the new temporary funding opportunities now available through the Small Business Administration (SBA). Some of the programs offer extremely low interest rate loans and at least one funding option, the Paycheck Protection Program, may be completely forgiven if 75% of the proceeds are used for payroll expenses. The following is a link to further description of the additional temporary programs presently being offered by the SBA: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options. You can also find more information by contacting the local SBDC office at firstname.lastname@example.org.
These funding opportunities are designed to rapidly infuse small businesses with much needed resources to help keep their workforce employed during the crisis. Please note that this opportunity may be exhausted quickly. Several of our local lenders have partnered with the SBA to process these funding requests. Please check with your bank to see if they are able to access these programs for you. If your bank is not yet partnered with them, you can also find information on the banking partners through the SBA.
Although our offices are closed to the public at this time we continue to work hard daily serving the residents and business owners of Sedalia. If there is any way we can be of assistance please do not hesitate to give us a call.