• Lisa Fagan

SBA Loans, Rental Assistance, Help for Veterans


Image: SBA Facebook Image posted 4/9/21


SBA is currently offering Paycheck Protection Program (PPP) loans until May 31, 2021 https://www.sba.gov/funding-programs/loans/covid-19-relief-options/paycheck-protection-program

The Paycheck Protection Program (PPP) is a loan designed to provide a direct incentive for small businesses to keep their workers on payroll. Borrowers may be eligible for PPP loan forgiveness. COVID-19 Emergency Rental Assistance Program Phase II The COVID-19 Emergency Rental Assistance Program Phase II will provide approximately $353 million in rental assistance to low- and moderate-income households that have had a substantial reduction in income or incurred significant costs as a result of the pandemic, including those who are homeless or at risk of homelessness. Households may be eligible for up to 12 months of rental assistance to help pay for rent arrears incurred after March 13, 2020, and future rent to the extent that funds are available. The application period will remain open until the $353 million has been awarded. Landlords may apply on behalf of tenants, with the tenant’s permission. Participants will be selected on a rolling basis from the overall pool of applicants through a randomized process based on eligibility and lottery criteria. The New Jersey Department of Community Affairs is providing the centralized application intake, eligibility review, and payment of assistance, which will be made directly to participants’ landlords. DCA has authorized Nan McKay & Associates to help administer the program and to communicate with applicants and landlords. Additional information about the program, available in multiple languages, can be found online at https://www.nj.gov/dca/cverap2.shtml on the DCA website. To apply visit: https://njdca.onlinepha.com. SBA HELP FOR VETERANS https://www.sba.gov/article/2021/mar/19/sba-announces-veterans-business-outreach-center-funding-opportunity Private organizations, colleges and universities, private sector firms, nonprofit organizations and state, local or tribal governmental agencies across Pennsylvania, Delaware, Washington, D.C., Maryland, Northern California, and Nevada are eligible to apply for funding from the U.S. Small Business Administration to provide training and counseling to aspiring and existing veteran small business owners as a Veterans Business Outreach Center (VBOC). The grant awardees will provide training to service members and military spouses through the Boots to Business entrepreneurship training program, which is part of the Department of Defense’s Transition Assistance Program. Additionally, applicants will provide counseling, technical and financial skill development, comprehensive business assessments, and mentoring services to veterans, transitioning and active-duty service members, Reserve, National Guard, and military spouses interested in starting or growing a small business.

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