VAFMA News
A resource available to businesses or 501(c)(3) nonprofits with less than 500 employees, including sole-proprietors, independent contractors, and other self-employed individuals.
PPP Loan Application and Information
t.e2ma.net
MEET SIMA WHY US COVID weekly digest (mailto:consulting@simafinancialgroup.com?subject=COVID%20Weekly%20Digest) RESOURCES The Department of Treasury has released the Paycheck Protection Program applic...If you missed the Blueberry Field Day, catch the recording!
During Pandemic, Annual Blueberry Walk Goes Virtual
vpm.org
Coronavirus has put a damper on the Virginia Cooperative Extension’s annual Blueberry Field Walk at VSU - but some good might come of it after all.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.
disasterloan.sba.gov/apply-for-disaster-loan/index.html
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.
disasterloan.sba.gov
The SBA provides low-interest disaster loans to help businesses and homeowners recover from declared disasters.Now, during the coronavirus crisis, some shoppers say that greenmarkets are more important than ever. They said they felt safer shopping outdoors than inside grocery stores...
Why Outdoor Farmers’ Markets Matter More Than Ever
www.nytimes.com
Some customers prefer greenmarkets to shopping inside during the coronavirus outbreak. Last week, rules were introduced to keep the markets safe.Hampton Roads Farmers Markets are open for business and in the news!
Shelves bare? Stop by a drive-thru farmers market in Norfolk
www.wtkr.com
Like many businesses, We Dig Tidewater LLC has had to adapt to current regulations to continue to conduct business.That's where drive-thru farmers markets come in.