Our nation's small businesses are facing an unprecedented economic disruption due to the Coronavirus (COVID-19) pandemic.
On Friday, March 27, 2020, the President of the United States signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which contains $376 billion in relief for American workers and small businesses.
"Some of the funding for these programs will be distributed on a first-come, first-serve basis," City Manager Alan Nygaard said. "So speak to your financial institution sooner rather than later in order to take advantage of these funding programs.”
The U.S. Small Business Association is offering these temporary funding opportunities:
• SBA Debt Relief
• SBA Express Bridge Loans
• Paycheck Protection Program (PPP)
- This program is available to small businesses now through SBA lenders and will be available to sole proprietors, contractors and the self- employed starting April 10, 2020.
- We recommend that you contact your lending institution to apply for this program, instead of submitting your application online.
~ Here’s a list of some SBA Lenders in Lewiston:
• Banner Bank - 1005 Bryden Avenue, Lewiston, ID 83501
• Umpqua Bank - 2250 Thain Grade, Lewiston, ID 83501
• Washington Trust Bank - 1518 21st Street, Lewiston, ID 83501
• Zions Bank - 2997 Thain Grade, Lewiston, ID 83501
• P1FCU - 1015 Warner Avenue, Lewiston, ID 83501
• Twin River Bank - 1507 G Street, Lewiston, ID 83501
• Economic Injury Disaster Loan (EIDL)
- Available via SBA.gov - Your SBA Lender may have information.
- You can apply for both PPP or EIDL providing you do not duplicate payroll or other expenses.
You can also get FREE business counseling to help you throughout this process.
The National Restaurant Association Educational Foundation has established a Restaurant Employee Relief Fund to help restaurant industry employees experiencing extraordinary hardship in the wake of the COVID-19, including a decrease in wages or loss of employment; apply online.