|
|
|
|
IMPORTANT:
DC Small Business Recovery Microgrants -- applications now open
|
If you need assistance with your application, please contact
Kristen Barden
(202-997-0783) or
Brian Barrie
(202-536-9515).
Technical questions about the application should be directed to
dmped.grants@dc.gov
.
Mayor Bowser and the Council of the District of Columbia are investing $25 million in the COVID-19 Recovery Effort and the
DC Small Business Recovery Microgrants Program
, which will be housed in the Office of the Deputy Mayor for Planning and Economic Development.
Pursuant to the “COVID-19 Response Emergency Amendment Act of 2020” effective March 17, 2020 (D.C. Act 23-247), the DC Small Business Recovery Microgrants Program will offer grants to small, local businesses, individual contractors, self-employed individuals, and nonprofits to meet their short-term financial needs. The grant can cover employee wages and benefits (including fringe benefits associated with employment, such as health insurance), accounts payable, fixed costs, inventory, rent, and utilities.
**Application closes at 6pm on Tuesday, March 31st**
Click here for more information and to apply
For more details,
click here
for previous issues of this newsletter
|
|
|
|
|
|
|
|
|
|
Ward 1 Small Business Town Hall on Friday
|
Ward 1 Councilmember Brianne Nadeau will be joined by District Bridges and the Adams Morgan Partnership BID to give businesses an update on how to access help in response to COVID-19 and to listen to concerns of our Ward 1 businesses.
Friday, March 27th, 9:30 AM - 10:30 AM
To Dial-In Call: 1-650-479-3208
Access Code: 478 884 715
To Join Via Video
Click Here
Please submit questions to the Committee Director, Benjamin Davis at
BDavis@dccouncil.us
by noon on Thursday, March 26th if you do not wish to ask them live.
|
|
|
|
|
|
|
|
|
|
Highlights of the Federal CARES Act that provides assistance and protections for small businesses and employees
|
Notes provided by CNHED
Small Business Loans
-
Loan forgiveness possible for up to 8 weeks of expenditures at the start of the loan
-
$240 million for small business development centers and women’s business centers for technical assistance to small businesses
-
$25 million for resource partner associations to provide online information and training,
-
$10 million for minority business centers for technical assistance for businesses,
-
$10 billion for emergency EIDL grants (the new SBA disaster loans) and expand eligibility to include NGOs, Tribal businesses, cooperatives, sole proprietors, and independent contractors with no personal guarantee required for a loan below $200,000,
-
17 billion for loan subsidies,
-
Directs $25 million for the SBA to offer resources and services in the 10 most commonly spoken languages, other than English.
Unemployment Insurance
-
Temporary program will provide payment to those not usually eligible for unemployment benefits, including those self-employed, independent contractors, and those with limited work history, and others who are unable to work as a direct result of the crisis,
-
Additional $600 per week payment to each recipient of unemployment insurance or Pandemic Unemployment Assistance for up to four months,
-
Additional 13 weeks of unemployment benefits for those who remain unemployed after weeks of state unemployment benefits are no longer available, including people with reduced hours,
-
$1,200 ($2,400 married) rebate for households earning under $75,000 (or $!50,000 married), eligible for an additional $500 per child.
Businesses and employment
-
Refundable payroll tax credit for 50 percent of wages paid by employers to employees during the COVID-19 crisis. The credit is available to employers whose (1) operations were fully or partially suspended, due to a COVID-19-related shut-down order, or (2) gross receipts declined by more than 50 percent when compared to the same quarter in the prior year.
-
Temporarily reduce the Community Bank Leverage Ratio (CBLR) for qualifying community banks from 9 percent to 8 percent, and provide for a reasonable grace period if a community bank’s CBLR falls below the prescribed level. The interim rule expires at the earlier of December 31, 2020, or the date on which the national emergency declaration related to coronavirus is terminated.
-
Prohibits foreclosures on all federally-backed mortgage loans for a 60-day period beginning on March 18, 2020. Provides up to 180 days of forbearance for borrowers of a federally-backed mortgage loan who have experienced a financial hardship related to the COVID-19 emergency. Applicable mortgages included those purchased by Fannie Mae and Freddie Mac, insured by HUD, VA, or USDA, or directly made by USDA.
-
For 120 days beginning on the date of enactment, landlords are prohibited from initiating legal action to recover possession of a rental unit or to charge fees, penalties, or other charges to the tenant related to such nonpayment of rent where the landlord’s mortgage on that property is insured, guaranteed, supplemented, protected, or assisted in any way by HUD, Fannie Mae, Freddie Mac, the rural housing voucher program, or the Violence Against Women Act of 1994.
-
Provides $150 billion to States, Territories, and Tribal governments to use for expenditures incurred due to the public health emergency with respect to COVID-19 in the face of revenue declines, allocated by population proportions, with a minimum of $1.25 billion for states with relatively small populations.
|
|
|
|
|
|
|
|
|
|
National Small Business Town Hall on March 27
|
Join
Inc.
and the
U.S. Chamber of Commerce
for a complimentary virtual event.
The Senate passed a historic stimulus package on Wednesday night. The House of Representatives is expected to pass it this week. But at 880 pages and $2 trillion at stake, what does this bill mean for your small business? What do you need to know to help your business thrive, reassure your employees, and give you some of the certainty needed to lead?
Inc. and the U.S. Chamber of Commerce will answer those questions in a virtual National Small Business Town Hall tomorrow, Friday, March 27, at noon Eastern time. We’ll have Kimberly Weisul, Inc. editor-at-large, hosting a fireside chat with Neil Bradley, the executive vice president and chief policy officer at the U.S. Chamber of Commerce. They’ll discuss exactly what this bill could mean to you, including:
-
Where it provides opportunities;
-
Where it creates headaches; and
-
How you can use it to support your business.
Click here to register
.
Friday, March 27, 12:00 PM to 1:00 PM EST
Where: Virtually on Microsoft Teams Live Events, details will be sent in your confirmation email.
Space is limited and advance registration is required. Please RSVP at the link above by tomorrow morning to ensure your participation.
|
|
|
|
|
|
|
|
|
|
These provisions of the federal COVID-19 legislation support and supplement state unemployment programs
|
The CARES Act (Coronavirus Aid, Relief and Economic Security Act) is the latest round of federal relief packages to address the COVID-19 pandemic. Following on the Families First Coronavirus Response Act, which provided sick leave and expanded FMLA for those affected by COVID-19, the CARES Act was passed by the Senate late in the evening on Wednesday, March 25, and is expected to be passed by the House of Representatives on Friday, March 27. The President has indicated that he will sign it upon receiving it on Monday.
Click here to read the whole article
|
|
|
|
|
|
|
|
|
|
The District Government needs information about the impact of Covid-19 on your business
|
The DC Government wants to know how your business is affected, what your status is, and what assistance the District can provide you at this time. The District developed a
COVID-19 Business Inquiry Form
that will allow local businesses to share their status and help the District put you in contact with the resources you need to expedite your recovery.
Click here to complete the form
|
|
|
|
|
|
|
|
|
|
Important Resources for Small Businesses from CNHED
|
These are additional resources to help you apply for small grants or loans.
Capitol City Community Development Corporation
4645 Nannie Helen Burroughs Ave., NE
www.capitolcitycdc.org
(202) 800-7966
DC Small Business Development Center Network,
Howard University School of Business
2600 6th Street, NW, Room 128
www.dcsbdc.org
(202) 806-1550
DC Women’s Business Center
740 15th Street, NW, 4th Floor
www.dcwbc.org
(202) 393-8307
Development Corp. of Columbia Heights
3419 14th Street, NW
www.dcch.org
(202) 483-4986
Dreaming Out Loud
80 M Street, SE, c/o We Work
(202) 800-2612
Greater Washington Hispanic Chamber of Commerce
910 17th Street, NW
www.gwhcc.org
(202) 728-0352
The HIVE 2.0
1231-B Good Hope Rd, SE
www.thedchive.com
(202) 733-6810
Latino Economic Development Center
1401 Columbia Road, NW, Unit C-1
www.ledcmetro.org
(202) 540-7400
Life Asset
2448A 18th Street, NW
contactus@lifeasset.org
www.lifeasset.org
(202) 709-0652
SB Works
2316 Rhode Island Ave., NE
www.sbworksdc.org
(202) 803-5400
Small Business Resource Center, Department of Consumer & Regulatory Affairs
1325 21st Street, SW
www.dcrasbrc.ecenterdirect.com
(202) 442-4538
Washington Area Community Investment Fund
2012 Rhode Island Ave., NE
www.wacif.org
(202) 529-5505
|
|
|
|
|
|
|
|
|
|
"Buy Restaurant Bonds" campaign encourages customers to support restaurants by gift card purchases
|
The Adams Morgan Partnership is trying to help restaurants and bars that have forced to close or severely limit their services by encouraging customers to purchase gift cards for future dining. We are trying to make a splash with this campaign -- modeled after the
Buy War Bonds
campaigns of WWI and WWII -- to help draw attention to our 100+ restaurants and employees that are facing an uncertain future. Please join in via your own social media accounts using the hashtag
#BuyRestaurantBonds
Please tag us in your social media posts about the operating status of your business so we can pass the information along.
|
|
|
|
|
POST YOUR EVENT ON OUR WEBSITE FOR FREE
If your business has an upcoming event happening in Adams Morgan, you can
submit it to our website here
. Submissions are moderated to ensure they are relevant to the Adams Morgan community.
|
SPONSORSHIP OPPORTUNITIES
Sponsor one of our community events! Partner with our community while reaching some of the city's most desirable demographics. For details, contact
Kristen Barden
at
202-997-0783.
|
|
|
|
|
|
©
Adams Morgan Partnership
|
|
|
|
|
|
