Business News & Updates
SBA’s EIDL Loan Updates
Businesses impacted by COVID-19 that apply for the SBA’s EIDL loan are eligible for a $10k forgivable advance. IMPORTANT: If you have already applied for the EIDL prior to March 30th, you will need to reapply through the new application to be eligible for the forgivable advance. Businesses may still be eligible even if their original application was denied. The application can be found here: www.SBA.gov/Disaster. Businesses are encouraged to apply as soon as possible. Guide to EIDL Loan and Application Information from SBA.
Guidance for Determining Essential vs. Non-essential Business
For guidance on the new order regarding essential vs Non-essential, including a list of businesses, organizations and facilities which may remain open, please read the interpretive guidance here, here, and here. If “essential” or “non-essential” status is still unclear, please use this as guidance.
FAQ for New CARES Act Unemployment Insurance Changes
If you are unsure how the new CARES Act effects your unemployment insurance eligibility or benefits, Maryland Department of Labor’s has provided answers to frequently asked questions. For the general unemployment FAQ from the Department of labor please, click here.
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