City Of Millbrae: FAQ: Rent Relief For Small Businesses

Millbrae CA

28 July, 2021

1:56 PM

Description

Press release from the City of Millbrae: 07/28/2021 8:21 AM As we continue to struggle from the economic effects of the COVID-19 pandemic, the U.S. Small Business Administration (SBA) continues to encourage small business owners to take advantage of financial relief programs that can help with rent and other bills. Below are some of the most frequently asked questions from those seeking to access these programs. What is the federal government doing to help businesses? This past year, several programs have been implemented to help businesses pay their mortgages and rent. While some of those programs have expired, two programs currently available include the U.S. Small Business Administration's (SBA) Economic Injury Disaster Loan and Restaurant Revitalization Fund. What is the SBA's COVID-19 Economic Injury Disaster Loan? The SBA's COVID-19 Economic Injury Disaster Loan (EIDL) is a long-term, direct loan that helps small businesses and most private non-profit organizations meet their financial obligations and operating expenses that could have been met had COVID-19 not occurred. EIDL proceeds can be used to cover a wide array of working capital needs and normal operating expenses, such as continuation of health care benefits, rent, utilities, and fixed debt payments. Who can apply for help? Applicants must be physically located in the United States or designated territory and suffered working capital losses due to the Coronavirus pandemic. Eligible applicants include:  This press release was produced by the City of Millbrae. The views expressed here are the author's own.