Following President Trump’s signing of the historic Coronavirus Aid, Relief, and Economic Security (CARES) Act, SBA Administrator Carranza and Treasury Secretary Mnuchin today announced that the SBA and Treasury Department have initiated a robust mobilization effort of banks and other lending institutions to provide small businesses with the capital they need. The CARES Act establishes a new $349 billion Paycheck Protection Program. The Program will provide much-needed relief to millions of small businesses so they can sustain their businesses and keep their workers employed. More information can be found below and on Treasury’s CARES Act website: https://home.treasury.gov/cares.
Assistance for American Workers and Families
In the weeks immediately after the passage of the CARES Act, Americans will see fast and direct relief in the form of Economic Impact Payments. For more information, CLICK HERE.
Assistance for Small Businesses
The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses.
Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.
Press Release: With $349 Billion in Emergency Small Business Capital Cleared, Treasury and SBA Begin Unprecedented Public-Private Mobilization Effort to Distribute Funds (HERE)
Press Release: Treasury Encourages Businesses Impacted by COVID-19 to Use Employee Retention Credit (HERE)
Tweet: SBA Administrator Jovita Carranza shares information for SBA Loans (HERE)
30 Days to Slow the Spread
Today President Trump announced the extension of the Coronavirus Guidelines for America for an additional 30 days through Friday, April 30th. The recommendations are simple to follow and will continue to have a resounding impact on public health. Please click here for more information: 30 Days to Slow the Spread (Español)
How to Help – If you or your organization are interested in helping the effort to combat the spread of COVID-19, FEMA has established a website (www.fema.gov/coronavirus/how-to-help) with more information. Examples for the private sector include:
To sell medical supplies or equipment to the federal government, please submit a price quote under the COVID-19 PPE and Medical Supplies Request for Quotation. Full details can be found in the solicitation (Notice ID 70FA2020R00000011).
- This solicitation requires registration with the System for Award Management (SAM) in order
to be considered for award, pursuant to applicable regulations and guidelines. Registration
information can be found at www.sam.gov. Registration must be “ACTIVE” at the time of