Emergency Funding for Businesses

Emergency Injury Disaster Loan-  Businesses can apply today at https://covid19relief.sba.gov/#/ 

Here is a video tutorial with step by step instructions: https://www.mssbdc.org/resources/business_resilience_information

Who can apply?

  • If you are a business under 500 employees
  • NAICS Sector Code 72-Food & Accommodations(Given Preference)
  • Have a Good Credit History
  • Physically Located in County of the disaster

What Can Funds Be Used For?

  • Working Capital
  • Debts
  • Payroll
  • Accounts Payable
  • Rent
  • Utilities
  • Other Bills
  • Does not cover costs for Expansion

Up to $2 million at 3.75% interest for businesses with terms of up to 30 years.  If you are applying for over $25,000 you must have collateral. Business owners can also apply for an up to $10,000 cash advance grant through this loan program.

Here is your checklist to get all materials needed together in order to apply:  http://itawambams.com/wp-content/uploads/2020/03/SBA-Disaster-Checklist.pdf

Paycheck Protection Program for Small Businesses- 

The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses.

Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.

PPP — Overview

 PPP Application

Please contact Vaunita Martin at 1-662-210-1505 or by email at vmartin@itawambams.com with questions or concerns.

Back to Business Grants for Small Business-

On May 20, 2020, Governor Tate Reeves signed SB2772 into law, establishing the Back to Business Mississippi Grant Program. The grants will be used to help businesses in Mississippi with 50 or fewer employees recover from the economic impact of COVID-19, including operating expenses and salaries.

BacktoBusiness-Walk-Through

Apply at:  https://www.backtobusinessms.org/