UPDATES, INFORMATION, AND RESOURCES FOR SMALL BUSINESSES
A description of the small business provisions in the stimulus:
Paycheck Protection Program
This temporary emergency assistance through the U.S. Small Business Administration (SBA) and the Department of Treasury can be used in coordination with other COVID-financing assistance established in the bill or any other existing SBA loan program.
The bill requires the SBA Administrator to set a cap on how much a bank can earn to process loan applications and prioritize underserved borrowers, including those in rural communities, minorities, women and veterans.
The bill provides $562 million to ensure that SBA has the resources to provide Economic Injury Disaster Loans (EIDL) to businesses that need financial support.
$17 billion in funding for a provision to provide immediate relief to small businesses with standard SBA 7(a), 504, or microloans.
The stimulus also includes a permanent fix that allows SBA to waive fees for veterans and their spouses in the 7(a) Express Loan Program, regardless of the President’s budget. Under current law, SBA may only waive fees on 7(a) Express loans to veterans when the President’s budget does not project a cost above zero for the overall 7(a) loan program.
The measure allows agencies to modify the terms of a contract to reimburse small business contractors for the cost of providing paid leave, including sick leave, to employees or subcontractors unable to perform work on-site due to a facility closure and cannot telework.
Below is a list of resources we will continue to update and send out:
Washington, DC Resources
National Business Resources
We will continue to update you as more resources come available.
Welcome to the Washington, DC
Women's Business Center
The Washington, DC Women's Business Center (DC WBC) is a business development organization that serves women entrepreneurs in the Washington, DC Capitol Region. The DC WBC provides training and consultation to assist in the growth of women-owned businesses. We also provide technical assistance to women-owned businesses interested in federal and local government procurement opportunities. Schedule an appointment today! We look forward to helping you grow your business.
The DC WBC is operated by the National Community Reinvestment Coalition (NCRC) and funded in part by the U.S. Small Business Administration (SBA).
The DC WBC is here to guide you in the planning and start up of your business. We offer classes and one-on-one consultation to help women become budding entrepreneurs.
Are you an existing woman-owned business that wants to grow? The DC WBC can help you reach new markets in federal and local governments and assist you in managing the growth of your business.
The DC WBC provides training and consulting to assist in the start-up and growth of women-owned businesses.
• Seminars and Workshop
• Business Opportunities
• Networking Events
• Request One-on-One Consultation