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Disaster Relief: Loans, Grants, Resources for Small Business Owners

  • 1.  Disaster Relief: Loans, Grants, Resources for Small Business Owners

    Posted 03-20-2020 16:30

    Federal Government: 

    The U.S. Small Business Administration (SBA) is offering up to $2 million in Economic Injury Disaster Loans for small businesses impacted by the coronavirus, in addition to a resource page detailing eligibility and how to apply. 

    State/Local Government: 

    Chicago: Mayor Lori Lightfoot revealed a $100 million Chicago Small Business Resiliency Loan Fund that will provide low-interest loans to the city's struggling small businesses.

    Denver: The city's business owners can apply for cash grants of up to $7,500 as part of Denver Economic Development and Opportunity's emergency relief program. Denver Mayor Michael Hancock also announced the creation of a $4 million small business relief fund.

    Los Angeles: The city's Small Business Emergency Microloan Program is offering loans ranging from $5,000 to $20,000 with 0-3% interest rates.

    Maine: Led by Governor Janet Mills, Maine is one of the first states to be approved for SBA loans. The state will allocate up to $2 million in aid for small businesses. 

    Massachusetts: Governor Charlie Baker announced a $10 million relief fund for Massachusetts businesses affected by the coronavirus. Funds of up to $75,000 are immediately available for companies with fewer than 50 full- and part-time employees.

    Michigan: The Michigan Economic Development Corp. received approval to implement a Michigan Small Business Relief Program that will allocate $10 million in small business grants and $10 million in small business loans to local business owners.

    New York City: The NYC Small Business Services is offering businesses with fewer than five employees grants to cover 40% of payroll costs for two months. Businesses with fewer than 100 employees and sales decreases of 25% or more will be eligible for zero-interest loans of up to $75,000.

    Sacramento: The city established a $1 million economic relief fund for businesses that provides 0% interest loans of up to $25,000 per business.

    San Francisco: Small businesses with fewer than five employees are eligible to receive up to $10,000 for staff salaries and rent.


    Wisconsin: The Wisconsin Economic Development Corp. launched Small Business 20/20-a $5 million grant program that will give companies with fewer than 20 employees up to $20,000.

    Private/Nonprofit Companies: 

    Amazon announced a $5 million Neighborhood Small Business Relief Fund to provide cash grants to local Seattle small businesses.

    JPMorgan pledged $50 million in aid to small businesses and nonprofits.

    full updated list here:
    https://www.forbes.com/sites/briannegarrett/2020/03/20/small-business-relief-tracker-funding-grants-and-resources-for-business-owners-grappling-with-coronavirus/



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    Tim Michaels
    310-567-4039
    pianotechtim@gmail.com
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  • 2.  RE: Disaster Relief: Loans, Grants, Resources for Small Business Owners

    Registered Piano Technician
    Posted 03-20-2020 17:00

    Thanks for sharing this Tim. I saw this a little while ago. While I understand why, I think this is one of the dumbest things the government could do right now. Offer people who have no income a way to dig themselves into a hole even deeper. Yeah, that's smart. 


    The grants and relief efforts are better options, in my opinion. Anyway, thanks for sharing some options.



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    Benjamin Sanchez, RPT
    Piano Technician / Artisan
    (805) 315-8050
    www.professional-piano-services.com
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  • 3.  RE: Disaster Relief: Loans, Grants, Resources for Small Business Owners

    Posted 03-20-2020 17:51
    Congress is working on converting the SBA loans into grants if used for payroll and other essential business expenses. Their deadline to iron out the details is at midnight tonight.

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    Tim Michaels
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  • 4.  RE: Disaster Relief: Loans, Grants, Resources for Small Business Owners

    Posted 03-20-2020 17:56
    Self employed individuals in California can be eligible for unemployment insurance through the EDD because of the coronavirus disaster.

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    Tim Michaels
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  • 5.  RE: Disaster Relief: Loans, Grants, Resources for Small Business Owners

    Registered Piano Technician
    Posted 03-20-2020 22:18
    Really? The Covid-19 pandemic has caused 99% of my appointments for the next several weeks to cancel. Please tell us more.

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    Geoff Sykes, RPT
    Los Angeles CA
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  • 6.  RE: Disaster Relief: Loans, Grants, Resources for Small Business Owners

    Posted 03-20-2020 22:36

    This article goes into more detail for California workers:
    http://www.capradio.org/articles/2020/03/19/independent-contractors-in-california-may-have-limited-options-to-apply-for-unemployment-due-to-coronavirus/

    Here's what the California EDD says:
    https://www.edd.ca.gov/about_edd/coronavirus-2019.htm

    Hopefully the federal government will open up a disaster unemployment program for people that fall through the cracks. 



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    Tim Michaels
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