COVID-19 Related Small Business Assistance
I am eager to resume my newsletter’s focus on workforce and board of director diversity. However, I think there is a more pressing need for information about how organizations can access resources to weather this COVID-19 storm. Please find some resources I hope will be helpful to your business during this economic downturn. Continue to take care and stay safe.
Available Federal Grant and Loan Products include:
The Paycheck Protection Loan (PPP) is open to businesses, Independent contractors and self-employers. This program provides potentially forgivable loans in amounts to cover 2.5 months of payroll or $10 million (whichever is less).
To apply for a PPP:
- Review the application and gather the necessary materials such as payroll tax filings, proof of lease payments, proof of mortgage payments, and proof of utility payments
- Get in contact with your accountant and/or bank that pays out your business’s payroll. Ask your lender if it is authorized to process your Paycheck Protection Program loan.
- If you are not connected to an authorized lender, you can search for an eligible lender here. (which currently shows headquartered bank locations)
For additional information:
- Webinar of the CARES Act Impact on Small business
- Colorado Small Business Development Center CARES Act & COVID related webinars
For more information on board governance and organizational diversity, follow along on Twitter or Instagram. Nikki McCord is the founder of McCord Consulting Group, the only choice for organizations looking to energize, innovate, and diversify their boards and organizations.