CHATHAM, NJ - Small businesses face a daunting climate as the new coronavirus, or COVID-19, pandemic impacts their ability to keep their workforce employed and their revenues flowing but there is help available.
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In response to the challenge, the Women’s Center for Entrepreneurship Corp. in Chatham, has a slate of free webinars in April to help businesses navigate federal and state funding and other loan options.
“Help is on the way in the form of Small Business Emergency Grants & Loans” said Women Center for Entrepreneurship Executive Director Rana Shanawani. Experts from the center have ‘one-stop shop’ details on what’s available, how to apply, and documentation to have available.
Federal Funding Opportunities--U.S. Small Business Administration (SBA):
Economic Injury Disaster Loan: up to $2m for small businesses @3.75% interest, can be paid over 30 years.
Paycheck Protection Program: loans of up to $10m to cover payroll costs, and up to 25% for operations. Loans may be forgiven if conditions are met.
State of NJ: Economic Development Authority
Small Business Emergency Assistance Loan—up to $100K for businesses earning less than $5M in annual revenue. Flexible terms.
Center experts are available to explain each of these loans and grants in greater detail, and address questions from small business. The Center is also holding frequent live webinars in April on funding and management topics.
For more information or to donate, visit www.wcecnj.org or call (973) 507-9700.
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