Dear Early Educators,
As you may have heard in the news, Congress is about to pass another bill to provide financial support to small businesses, including nonprofit and for-profit child care centers impacted by the COVID-19 pandemic! The bill could be signed into law as early as this Friday April 24th.
We want to draw your attention to the Small Business Administration (SBA) Economic Injury Disaster Loan (EIDL), which provides a grant up to $10,000 and a loan based on the size of the organization. The application is a simple, four-page application that you can access through the SBA website. You do not need to work with a bank, and they ask only a few basic questions about your center’s finances.
Attached to this email is a hard copy of the online application (so you’ll know how to prepare) and a short summary of how the loan works, how to apply, and the financial information you need to gather for the application.
Once the bill is signed by the President, SBA will open up the portal for accepting applications. We do not know yet when that will happen, but it could be as early as Friday or this weekend. The portal will stay open as long as there are funds available to meet demand, but it is expected that it may be no longer than 72 hours!
BE READY TO APPLY!!
- Take a look at the attachments below ASAP to determine if you would like to apply.
- If so, gather the information that is requested so that you can be ready to fill out your application AS SOON AS the portal opens.
- We will send out another note when it opens, but you can also check the SBA website yourself.
- When it opens, go ahead and apply if you feel comfortable.
A PARTNER TO HELP YOU THROUGH THE PROCESS:
If you need help filling out the application, our partners at Communities Unlimited, which is based in Fayetteville and has staff located around the state, are offering FREE technical assistance over the phone. They are open Monday through Friday, 8:00 a.m. to 8:00 p.m. and Saturday from (9:00 a.m. to 1:00 p.m.) You can call 479-443-2700 to schedule an appointment.