KEEPING YOU CONNECTED & INFORMED
WBO Events/COVID-19 Resources
COVID-19 Awareness Series
We kicked off the COVID-19 Awareness Series on Tuesday, April 7th, 2020 with "Overcoming. Thank you to all of our participants who shared information, advice and experiences today. This is a necessary forum and we encourage you to share with others to get everyone connected. We will continue to share information via webinar, e-blast communication and our website.
Join us for our next series session on Tuesday, April 21, 2020 at 10:00 AM for WBO-PGC’s second series session: “COVID-19 Awareness: Financial Relief Resources and Updates" to connect with experts and fellow women business owners to share the necessary resources, tools and advice necessary to overcome this crisis together. Register now for this free business community event to receive access information to the virtual meeting room.
Together we will not just survive, but we will THRIVE.
IMPORTANT COVID-19 RESOURCES
MD COVID Emergency Relief
Commerce is no longer accepting applications for the COVID-19 Relief Grant and Loan as of April 6, 2020 at 5:00 pm. All applications that have been submitted are currently being reviewed in the order they were received.
SBA COVID-19 Relief Programs
There are various Small Business Administration (SBA) options providing financial reprieve to small businesses during the COVID-19 pandemic including the following. Please click on the hyperlinked titles to find more information.
Reminder, if you are eligible and have not done so, please submit your PPP Loan Application to your lender ASAP. It is anticipated that the House of Representatives will approve the additional funding on Thursday, April 23rd. Encourage others who may be qualified to submit their PPP Loan applications too, now!
Paycheck Protection Program (PPP)
Designed as a direct incentive for small businesses to keep their workers on payroll. Loan will be forgiven if all employees are kept on the payroll for eight (8) weeks and the money is used for payroll (75%), rent, mortgage interest, or utilities. Must apply through any existing SBA 7(a) lender, or other federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating.
Economic Injury Disaster Loan Emergency Advance (EIDL)
Open to all U.S. small business owners in all U.S., D.C., and territories for an EIDL advance of up to $10,000 to businesses currently experiencing a temporary loss of revenue. This loan advance will not have to be repaid.
SBA Express Bridge Loans
Allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly.
SBA Debt Relief
• The SBA will automatically pay the principal, interest, and fees of current 7(a), 504, and microloans for a period of six months.
• The SBA will also automatically pay the principal, interest, and fees of new 7(a), 504, and microloans issued prior to September 27, 2020.