Region IV Development (RiVDA) is here to assist Small Businesses and those that are being affected by the Coronavirus. As we move through these unprecedented times, Small Businesses are facing many uncertainties. Many of the comments shared with us this week have been heart breaking. Most of you may know most of the information below, but we want you to know that we are here to assist in any way possible. Below is just a couple of examples how RIVDA can assist Small Businesses during these difficult times.
As you or Small Businesses you know have questions, please do not hesitate to reach out to us. We know we do not have all of the answers, but we will work tirelessly to assist or connect you with resources.
To learn more about the Support Local Gems Initiative, you can read the SLG Initiative statement here.
SBA has announced that the EIDL Loan Application is Now Open For All
To further meet the needs of U.S. small businesses and non-profits, the U.S. Small Business Administration reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program portal to all eligible applicants experiencing economic impacts due to COVID-19 today.
“The SBA is strongly committed to working around the clock, providing dedicated emergency assistance to the small businesses and non-profits that are facing economic disruption due to the COVID-19 impact. With the reopening of the EIDL assistance and EIDL Advance application portal to all new applicants, additional small businesses and non-profits will be able to receive these long-term, low interest loans and emergency grants – reducing the economic impacts for their businesses, employees and communities they support,” said SBA Administrator Jovita Carranza. “Since EIDL assistance due to the pandemic first became available to small businesses located in every state and territory, SBA has worked to provide the greatest amount of emergency economic relief possible. To meet the unprecedented need, the SBA has made numerous improvements to the application and loan closing process, including deploying new technology and automated tools.”
EDA CARES Act Recovery Assistance
US Economic Development Administration: CARES Act Recovery Assistance
Idaho Rebound Cash Grants for Small Businesses
Idaho Rebound Cash Grants for Small Businesses
Idaho small businesses are the lifeblood of our communities and the backbone of our state’s economy. However, the ongoing COVID-19 outbreak has forced widespread closures of small businesses across the Gem State, threatening livelihoods, acute job losses, and imperiling the future of local establishments across our state. The U.S. Treasury guidance allows the state to use Coronavirus Relief Fund (CRF) dollars for expenditures “related to the provision of grants to small businesses to reimburse the costs of business interruption caused by required closure.”
Loan Deferment on SBA Loans and RIVDA Internal Loans
Loan Deferment is available on SBA Loan and RIVDA Internal Loans.
SBA Disaster Loan Application Assistance
www.sba.gov/disaster
Apply directly through SBA
WE CAN/WILL ASSIST
Items Needed:
- SBA Form 5
- IRS Form 4506-T
- Most recent Federal Income Tax Returns
- Schedule of Liabilities (SBA Form 2202)
- Personal Financial Statement (SBA Form 413)
RIVDA Internal Loans
- Working Capital
- Inventory
- Real Estate
- Equipment
- Etc.
SBA 504 Loans | Current Rate: 2.88%
- Real Estate
- Equipment
Loan Partnership and Connections
- Small Business Development Center
- Women’s Business Center
- Local and State Government Agencies
