Small Business Assistance Resources (June 2020): On June 6, the President signed legislation providing more flexibility and relief for small businesses including extending the covered period for loan forgiveness from 8 weeks after the date of loan disbursement to 24 weeks and lowering the requirements that 75% of a borrower’s loan proceeds must be used for payroll costs to 60%.
Small businesses must apply with a lender to be eligible for funding by June 30, 2020. SBA has approximately $100 billion available for relief.
Attached is a list of Small Business Assistance Resources that includes Paycheck Protection Program overview and rules, as well as useful links for borrowers and lenders, along with information related to the Economic Injury Disaster Loans & Advance Program.
Small Business Assistance Resources (June 2020)–pph
Economic Injury Disaster Loans & Advance Program: SBA’s Economic Injury Disaster Loans and Advance Program has reopened its portal to all eligible small businesses and non-profits impacted by COVID-19 pandemic. The reopened portal can be found here.
Read Executive Order No. 147 that implements today’s announcement.
Read Frequently Asked Questions about today’s executive Order and mandatory face coverings.
View the slide presentation from today’s briefing.
Growing evidence shows that cloth face coverings, when worn consistently, can decrease the spread of COVID-19, especially among people who are not yet showing symptoms of the virus. Until now, face coverings had been strongly recommended. Under today’s executive order, people must wear face coverings when in public places where physical distancing is not possible.
In addition, certain businesses must have employees and customers wear face coverings, including retail businesses, restaurants, personal care and grooming; employees of child care centers and camps; state government agencies under the Governor’s Cabinet; workers and riders of transportation; and workers in construction/trades, manufacturing, agriculture, meat processing and healthcare and long-term care settings.
Based on the metrics laid out in April by Governor Cooper and Secretary Cohen, North Carolina is evaluating a combination of the data from the following categories that shows the indicators moving in the wrong direction, causing officials to implement today’s pause in Phase 2.
Trajectory in COVID-Like Illness (CLI) Surveillance Over 14 Days
Trajectory of Lab-Confirmed Cases Over 14 Days
Trajectory in Percent of Tests Returning Positive Over 14 Days
Trajectory in Hospitalizations Over 14 Days
In addition to these metrics, the state continues building capacity to be able to adequately respond to an increase in virus spread. These areas include:
Personal Protective Equipment