Below is the SBA Newsletter-Great Info etc.
CARES ACT – Phase 2
On Sunday, December 27 the Consolidated Appropriations Act 2021 (H.R. 133) was signed into law and includes the Coronavirus Response and Relief Supplemental Appropriations Act 2021. This much anticipated legislation will provide additional relief to small businesses through the Paycheck Protection Program, the Economic Injury Disaster Loan Advances, and a new grant opportunity for live venues as a part of the Save Our Stages Act.
These new or reauthorized programs will provide much needed relief to the hardest hit small businesses across the country, even certain businesses that have already participated in these programs. The team at SBA are standing ready to deliver these resources, but it will take a little more time to issue the new rules required and update the processes.
As soon as official guidance is available, SBA District Offices around the country will get the information out as quickly as possible through webinars and bulletins such as the one you are reading now.
For up to-date information click on these links below:
COVID-19 Economic Injury Disaster Loan Application Deadline extended through Dec. 31, 2021
The deadline to apply for the Economic Injury Disaster Loan (EIDL) program for the COVID-19 Pandemic disaster declaration is extended to Dec. 31, 2021. The deadline extension comes as a result of the recent bipartisan COVID-19 relief bill passed by Congress and enacted by President Trump on Dec. 27, 2020.
EIDL loan applications will continue to be accepted through December 2021, pending the availability of funds. Loans are offered at very affordable terms, with a 3.75% interest rate for small businesses and 2.75% interest rate for nonprofit organizations, a 30-year maturity, and an automatic deferment of one year before monthly payments begin. Every eligible small business and nonprofit are encouraged to apply to get the resources they need.
To date, the SBA has approved $197 billion in low-interest loans which provides working capital funds to small businesses, non-profits and agricultural businesses make it through this challenging time. Apply Here
SBA Launches Ascent
A Digital On-Line Learning Platform for Women-Owned Businesses
Please join U.S. Small Business Administration Administrator Jovita Carranza on Thursday, January 7 at 12:00 p.m. Central Time for a live webinar to announce the launch of Ascent.
Ascent is female entrepreneurs will be able to utilize this platform that brings a modern, e-learning experience specifically targeted for women business owners.learning platform geared to help women-owned small businesses grow and scale their existing business. With Ascent,
Click the link to register for the launch event SBA Administrator Carranza on January 7th! https://www.eventbrite.com/ASCENT
State Trade Expansion Program (STEP)
The State Trade Expansion Program (STEP) grant is designed to help Connecticut’s small business community thrive in the global marketplace by increasing the value of small business exports, increasing the number of businesses that export and increasing the number of businesses exploring significant new trade opportunities. This program is open to businesses that operate a registered business in Connecticut to manufacture, assemble and/or distribute a product, or provide an exportable service;
STEP financial support helps US small businesses to:
- Learn how to export
- Participate in foreign trade missions and trade shows
- Obtain services to support foreign market entry
- Develop websites to attract foreign buyers, and
- Design international marketing products or campaigns.
For more info on eligibility and/or to apply: https://portal.ct.gov/DECD/STEP
11th Annual Export Expo – Thursday, January 14 & 15, 2021
Massachusetts Export Expo — the state’s largest and most important export event of the year that brings together resources, training, and information for the local exporting community!
The Massachusetts Export Center’s Export Expo provides a forum for exporters to connect with the wide range of export resources available in Massachusetts/New England while learning about issues that impact their day-to-day export operations. This year’s Export Expo will be a virtual event that will include an exhibit area featuring government, non-profit and private sector service providers serving the export community.
The Massachusetts Export Expo will also feature a lineup of workshops, panel discussions and special addresses on a wide variety of export-related topics. With a special focus on the challenges and imminent developments in our global trade environment, including the impact of both the presidential election and the global pandemic on trade policy and operations. Hot-button issues such as two-way trade with China and Hong Kong, free trade and tariff policy, enhanced export controls and foreign investment restrictions, shifts needed to conduct business in a global pandemic and more will be addressed, with a focus on helping companies to navigate a dynamic and increasingly complex global trade environment. To register: https://exportregistration
Export goods to increase your profits, reduce market dependence, and stabilize seasonal sales. Connect with Small Business Administration resources and partners to get help exporting.
For info on Exporting in Connecticut, please contact our SBA Export Finance Manager, Joseph Raycraft, at 860.573.9150 or email: firstname.lastname@example.org
Joan Kanlian, Director, U.S. Department of Commerce (Westchester); Acting Director, US Department of Commerce (Middletown) Tel: 914-682-6712 or email: Joan.Kanlian@trade.gov
Melissa Grosso, Senior International Trade Specialist U.S. Department of Commerce/International Trade Administration Tel: 860.638.6955 or email: Melissa.Grosso@trade.gov
January is National Mentoring Month
A SCORE mentor is an advisor who helps individuals and small businesses reach their goals. Mentors provide free business advice and education to aspiring entrepreneurs and existing business owners. Every year, SCORE volunteers help thousands of entrepreneurs start small businesses and achieve new levels of success. Volunteering is a way for you to give back, network with business experts, and share your knowledge.
Volunteering at SCORE means you are joining a community of more than 10,000 diverse volunteers who are all committed to helping small business owners succeed. In Connecticut we have six SCORE Chapters totaling over 300+ mentors. Whether you have owned your own small business, worked in a Fortune 500 company, attend college, are retired and have a sincere commitment for helping small businesses, there is a place for you as a SCORE volunteer. To learn more about SCORE or to become a volunteer, click here: https://www.score.org/volunteer.
Seeking a loan for your small business? Connect with SBA-approved lenders using SBA’s Lender Match. How it works:
- Describe Your Needs
- Get Matched in 2 Days
- Talk to lenders
- Apply for a loan
Before you start talking to lenders, have a look at our abbreviated checklist to see if you’re ready for an traditional SBA loan.
Starting a New Business?
Get a powerful customized checklist that will guide you through starting a new business in Connecticut using local FREE resources to guide you throughout your journey.
The U.S. Small Business Administration and the State of Connecticut have resources at your disposal. We are your one stop for doing business in Connecticut.
SBA Connecticut District Office
280 Trumbull St. 2nd flr.,