We know that many farmers market operators are trying to decide how to respond to COVID-19. VAFMA recommends that markets work with their local governments' recommended course of action. Farmers markets are essential to their [...]
The Virginia Department of Agriculture and Consumer Services (VDACS) is offering two upcoming online trainings to VAFMA members and non-members. March 16, 2020 from 11:00 am to 12:30 pm: VDACS Food Safety Program Overview [...]
Free Registration The Virginia Farmers Market Association invites all Farmers Market Managers and Vendors in the Coastal Region to Join us for our 2020 Season Kickoff meeting and training! This gathering is [...]
Blue Ridge Region Farmers Market Vendor Training The Virginia Farmers Market Association, LEAP for Local Food, Salem Farmers Market and Lynchburg Community Market are offering a regional farmers market vendor training March 14th [...]
As a market manager or vendor do you wonder about your liability at farmers markets? Next week Riko Metzroth of Farmers Insurance Financial Services will join us to discuss this important topic. Riko insures [...]
Economic Injury Disaster Loan (EIDL) - Section 7(b) of SBA
We encourage you to apply for this ASAP. It is ONLY available through the SBA website. We encourage you to print a paper application using the link below and upload the application to avoid website traffic issues.
If you apply for this loan, you can request an emergency grant of up to $10,000 which the SBA must provide within 3 business days of grant request. This grant will not have to be repaid even if you are not approved for the loan. If you apply for the loan before the grant is available, you will need to go back and request the grant but will not have to reapply. At this time, there is no guidance on how this is done, but we expect more information will be released. Terms: 3.75% interest, up to 30-year repayment, 12 months no payments. Credit score of applicant is the primary factor in approval. $10 billion is set aside for the grant program, and the grants are to be given out First Come First Served. The SBA will determine the amount of an EIDL Loan and the loan is available to pay for expenses that could have been met had the disaster not occurred, including payroll and other operating expenses. For any loan made under this program, no personal guarantee will be required on loans up to $200,000. It is important that this loan is applied for BEFORE the section 7(a) loan discussed below if you wish to participate in both programs. If you receive EIDL money and you intend to also apply for the Payroll Protection money of 7(a), please consult with your tax advisor to develop an efficient plan for the use of the loan proceeds. ... See MoreSee Less