$10 Billion for CDFIs to Participate in PPP

Vermont District Office  - June 2, 2020

u s small business administration

$10 Billion for CDFIs to Participate in PPP

The U.S. Small Business Administration, in consultation with the U.S. Treasury Department, announced that it is setting aside $10 billion of Round 2 funding for the Paycheck Protection Program to be lent exclusively by Community Development Financial Institutions. 

CDFIs work to expand economic opportunity in low-income communities by providing access to financial products and services for local residents and businesses.  These dedicated funds will further ensure that the PPP reaches all communities in need of relief during the COVID-19 pandemic – a key priority for President Trump.

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Hurricane Prep Webinar June 9

National Oceanic and Atmospheric Administration experts predict an above-normal 2020 Atlantic Hurricane Season, which began June 1. Join the Small Business Administration and resource partners at 2 p.m. June 9 for a webinar about prepping, responding and recovering from a hurricane.

The webinar will cover the following topics:

  • Developing a greater awareness of risks
  • Business continuity planning
  • Having adequate insurance coverage
  • SBA disaster assistance

To register, click here.

Online Veteran-Owned Small Business Entrepreneurial Training Program

The U.S. Small Business Administration announced the first online Veteran Entrepreneurial Training and Resource Network Streetwise MBA program to provide virtual training for veteran small business owners and their immediate families beginning in August 2020.

Thanks to the funding of $100,000 from President Donald Trump’s donated salary, this will be the second cohort of the Veteran Owned Small Business Growth Training Pilot Program, following the successful completion of the first cohort in Portsmouth, New Hampshire in March 2020.

The award-winning VETRN Streetwise MBA program, powered by Interise, was created exclusively for veterans to provide them with the skills, resources, mentoring, and networking necessary to grow their own small business. The program is free and open to veterans and family members of established small businesses in all New England States, New York, and New Jersey. To date, 57 VETRN participants have graduated from the program.

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