CARES Act Child Care Funding Grant

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• Specifically for open eligible Child Care Programs

• Child Care And Development Block Grant (CCDBG)

• Provider Letter

• Application Packet
  
• FAQ
  
• Application

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SBA Economic Injury Disaster Loan (EIDL)

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• ReOpen for Eligible Businesses Press Release
  • As of 6/15/2020EIDL
• Virginia SBDC Network COVID-19 Assistance
• US Small Business Administration Website
• SBA Economic Injury Disaster Loan (EIDL) Program
• SBA Clarification for Faith-Based Oranizations

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Paycheck Protection Program (PPP)

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• PPP Funds still available
  • Closes: 6/30/2020
• PPP Fact Sheet​​​​​​​
• PPP Memo
• PPP Borrower Application
• Virginia 7A SBA Lenders​ List
• PPP Flexibilitly Act
  • As of 6/5/2020
  • New anad Revised Guidance for PPP Forgiveness
  • PPP Changes Chart
• New EZ and Revised Full Forgiveness Applications News Release
  • As of 6/17/2020
  • Revised Full Forgiveness Application
  • New EZ Forgiveness Application for eligible borrowers
    • Fewer calculations
    • Less documenttion
    • Applies to eligible borrowers that:
      • Are self-employed w/no employees; OR
      • Did not reduce the salaries or employee wages more than 25%, and did not reduce employee number or hours; OR
      • Experienced reductions in business activity as a result of health directives related to COVID-19, and did not reduce employee salaries or wages more than 25%.

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Other Loans

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VSBFA Child Care Financing Program

• Loans up to $150,000 for centers and $10,000 for Family Day Homes: Information (Brochure)
• Available to licensed/religious exempt centers and licensed/voluntarily registered family day homes
• Funds must be spent on tangible business items
• Interest rates reduced to 0%, 6 months deferment
• Application fee is waived​

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Recent Updates

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PPP Flexibilitly Act

• As of 6/5/2020
• New anad Revised Guidance for PPP Forgiveness
• PPP Changes Chart

PPP - New Forgiveness Application

• As of 6/17/2020
• New EZ and Revised Full Forgiveness Applications News Release
• Revised Full Forgiveness Application
• New EZ Forgiveness Application for eligible borrowers
  • Fewer calculations
  • Less documenttion
  • Applies to eligible borrowers that:
    • Are self-employed w/no employees; OR
    • Did not reduce the salaries or employee wages more than 25%, and did not reduce employee number or hours; OR
    • Experienced reductions in business activity as a result of health directives related to COVID-19, and did not reduce employee salaries or wages more than 25%.

PPP Funds still available

• Closes: 6/30/2020
• See PPP section below for more information

EIDL is available again

• As of 6/15/2020
• EIDL ReOpen for Eligible Businesses Press Release

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Other Grants

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United Way Grant Opportunity Wellbeing Bridge

• The purpose of the RFP is to support agencies with adapting and responding to the health and well-being of people who are impacted by the COVID-19 pandemic
• Request for Proposal

LISC Small Business Relief Grant

• Specifically for small businesses and enterprises affected by COVID-19 to cover paying rent and utilities, meeting payroll, paying outstanding debt to vendors, upgrading technology infrastructure and other immediate operational costs.
• Priority given to qualified businesses in. underserved communitites, including entrepreneurs of color, women and veteran owned businesses that often lack access to flexible, affordable capital.
• More Information

US Chamber of Commerce Foundation

• Resource Site
• $5,000 Grants to Small Employers

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Tips for Applying for Loans

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Be prepared to apply for the next round of stimulus loans by gathering these documents now. Each lender will differ in their requirements but these are the most common.

• Tax Returns
• Business Bank Account Statement
  • Use a separate Business Bank Account
  • Set up a Business Bank Account if you don't already have one
  • Establish a banking relationship
• Payroll Cost Reports (Payroll Company)
• Balance Sheet
• Profit & Loss Report
• EIN (Form SS4)
• W9
• VA W9

How to Apply for Forgivable SBA Loans (FDH)

Webinar by Tom Copeland

Geared for Family Child Care Providers

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