More Funds Available

We wanted to provide some updates courtesy of the Small Business Administration as well as Rebound Idaho. As we continue to experience instances of community spread in many parts of our state, it’s important that we ensure you are aware of financial assistance available to you.

The SBA began accepting new applications this morning at 7:00 am MDT in response to the Paycheck Protection Program Extension Act. The new deadline to apply for a PPP loan is Aug. 8, 2020.  

• Lender Match has been reverted to a CDFI and small lender finder for PPP. Do not use this if you are searching for an emergency disaster loan. You must apply through the SBA for an EIDL loan and advance. 
• Approximately $130 billion in PPP funds are available. If you have not yet taken advantage of the PPP program there are plenty of funds left and just a little over a month to apply.
• Loan reports by state for the EIDL and EIDL Advance have been posted (July 3). 
• PPP materials are available in 17 other languages 

Helpful links:

• All COVID-related resources: www.sba.gov/coronavirus
• For COVID-specific funding: www.sba.gov/coronavirusrelief
• PPP: www.sba.gov/paycheckprotection or www.sba.gov/ppp
• PPP lender finder: www.sba.gov/paycheckprotection/find 
• CDFIs/smaller lenders: www.sba.gov/lendermatch
• EIDL information: www.sba.gov/funding-programs/disaster-assistance/coronavirus-covid-19
  
• Shortcut to EIDL application: https://covid19relief.sba.gov/
• Subscribe to SBA e-newsletters: www.sba.gov/updates
• News releases: www.sba.gov/news
  
• COVID federal resources for small business (provided by SBDC, AWBC, SBA): https://covid-sb.org/

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Rebound Idaho Grants: Applications close July 17!

Businesses with less than 50 employees are eligible for up to $10,000. Grants will be awarded on a first-come, first-served basis until grants are fully expended or upon close of business on July 17, whichever occurs first.

For eligible Idaho-based small businesses that received certain federal pandemic-related emergency loans of less than $10,000, and for those which have received no federal assistance, this grant program can help.

HOW DO YOU APPLY?

The Idaho State Tax Commission will handle applications. All applicants must first establish a secure Taxpayer Access Point (TAP) account to protect their personal and business information on submitted applications. Small businesses interested in applying should start this process immediately.

Click here to begin the application process.