MEETING CANCELLED
Due to the COVID19 Pandemic and the Governor’s Executive Stay at Home Order, the April IDA monthly Board meeting scheduled for Tuesday, April 14, 2020 has been CANCELLED.
Due to the COVID19 Pandemic and the Governor’s Executive Stay at Home Order, the April IDA monthly Board meeting scheduled for Tuesday, April 14, 2020 has been CANCELLED.
Release Date: Tuesday, March 17, 2020
Release Number: 20-26
Contact: Jennifer.Kelly@sba.gov, (202) 205-7036
WASHINGTON – Today, as part of the Trump Administration’s aggressive, whole-of-government efforts to combat the Coronavirus outbreak (COVID-19) and minimize economic disruption to the nation’s 30 million small businesses, U.S. Small Business Administration Administrator Jovita Carranza issued revised criteria for states or territories seeking an economic injury declaration related to Coronavirus (COVID-19).
The relaxed criteria will have two immediate impacts:
“We’re very encouraged that banks and financial institutions are responding to the President’s efforts to mobilize an unprecedented public-private response to the Coronavirus (COVID-19) outbreak. As a result, most small businesses that need credit during these uncertain times will be able to obtain it. However, our goal is to ensure that credit is available to any and all small businesses that need credit but are unable to access it on reasonable terms through traditional lending channels,” said Administrator Carranza. “To that end, the SBA is relaxing the criteria through which states or territories may formally request an economic injury declaration, effective immediately. Furthermore, once an economic injury declaration has been made in a state or territory, the new rules allow the affected small businesses within the state or territory to apply for a disaster assistance loan.”
SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance for each affected small business. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
For additional information, please visit the SBA disaster assistance website at SBA.gov/Disaster.
###
About the U.S. Small Business Administration
The
U.S. Small Business Administration makes the American dream of business
ownership a reality. As the only go-to resource and voice for small
businesses backed by the strength of the federal government, the SBA
empowers entrepreneurs and small business owners with the resources and
support they need to start, grow or expand their businesses, or recover
from a declared disaster. It delivers services through an extensive
network of SBA field offices and partnerships with public and private
organizations. To learn more, visit www.sba.gov.
On Tuesday, January 14, 2020, Governor Ralph Northam was the keynote speaker at the Ribbon Cutting for Echo Communications, LLC which is located at 300 North Main Street, Lawrenceville, VA (Old Bank of America Building). Pictured below with the governor are members of the Brunswick County Board of Supervisors, Gloria Mene-Weather Woods, IDA Chairman Brunswick, Vice Chair Morris D aylor County IDA, Mayor Scott Martin, Business Director for IDA Mike Dotti CJ Dean, Town Manager, Lawrenceville Town Council, and Kristin Muzzy Echo World, Carl Townsend CEO Echo World Communications.