Resources Available to Small Businesses
The City of Fairburn’s Department of Economic Development is seeking information from businesses in the City regarding the challenges faced as a result of the COVID-19 Pandemic. The City is trying to understand better the ability or inability of businesses to withstand what could be several more months of suppressed revenue. The information you provide will help the City to develop programs, incentives, and other resources that will better assist small businesses during this difficult time. The survey will be available until May 15, 2020. The survey contains ten(10) simple questions that should take about two (2) minutes to complete. If you have questions or need additional information, please contact Kalanos Johnson, Director of Economic Development, at email@example.com or 770-964-2244, ext. 126.
SBA is providing resources such as the SBA Express Bridge Loans, Economic Injury Disaster Loans, and Paycheck Protection Program.
The Paycheck Protection Program: What You Need to Know and How to Apply – Ashley Bell, White House Policy Advisor
SBA Disaster Emergency Relief: Through the federal Small Business Administration (SBA)
1. If you can show that you have employees and in need right now, you can be eligible to receive funding in 72 hours - $10,000
2. Economic Impact Disaster Loan (EIDL) – Up to $2 million (3.75% for profits/2.75% for nonprofits). Amortized for over 30 years. It can be approved in 2 weeks.
Paycheck Protection Program Loans: Through a local bank
Two important dates to remember:
1) April 3rd – Small business owners/Sole Proprietors can apply for a Paycheck Protection Program (PPP) Loan
2) April 10th- Independent contractors and self-employed individuals can apply for a Paycheck Protection Program (PPP) Loan
* If business owners can maintain their employees/payroll through June 30th, the loan can become forgivable.