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X-ORIGINAL-URL:https://mycommunityloanfund.org/
X-WR-CALNAME:Community Loan Fund of the Capital Region
X-WR-CALDESC:A community development financial institution
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DTSTART;TZID=America/New_York:20211020T120000
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CREATED:20211016
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SUMMARY:COVID EIDL changes and rules with NY SBDC’s Kate Baker
DESCRIPTION:In response to COVID-19, small business owners, including agricultural businesses, and nonprofit organizations in all U.S. states, Washington D.C., and territories can apply for the COVID-19 Economic Injury Disaster Loan (EIDL).\nLearn more about recent changes to the program and whether they impact your business at this upcoming workshop, led by Kate Baker from the Small Business Development Center.\nRegister\nAs of September 8, 2021, new COVID EIDL policy changes have taken effect that entail the below updates to the program:\n\nMaximum loan cap increased from $500,000 to $2 million\nUse of funds was expanded to include payment and pre-payment of business non-federal debt incurred at any time (past or future) and payment of federal debt\nExtend the deferment period to 24 months from origination for all loans (existing loans with a less than 24-month deferment will be adjusted)\nAffiliation requirements simplified to an affiliate is a business that you control or in which you have 50% of more ownership\nDeveloped additional path to meet program size standards for businesses assigned a NAICS code beginning with 61, 71, 72, 213, 3121, 315, 448, 451, 481, 485, 487, 511, 512, 515, 532, or 812\nExclusivity Period: From September 8, 2021, to October 8, 2021, the above policy changes will be applicable to applications for <$500K while applications for >$500K will not be approved and therefore receive the policy changes until October 8, 2021\n\n \n
URL:https://mycommunityloanfund.org/events/covid-eidl-changes-and-rules-with-ny-sbdcs-kate-baker/
CATEGORIES:Event,Workshop
ATTACH;FMTTYPE=image/png:https://mycommunityloanfund.org/wp-content/uploads/2021/10/changes-to-Eidl.png
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