Business News & Updates
U.S. Department of Treasury Releases Information on Paycheck Protection Program (PPP)
Businesses who are anticipating applying to the SBA Paycheck Protection Program (PPP) should begin preparing now. Application submission begins on April 3 for small business and sole proprietors, and April 10 for independent contractors and self-employed individuals.
The PPP provides up to $10 million in forgivable loans to assist businesses in keeping their employees. Even if your business has already reduced employment, you are still eligible based on employment levels prior to February 15.
To Prepare:
- Read the PPP information sheet from the US Treasury carefully
- Contact your current SBA partner bank and let them know you are interested in participating. If you do not currently bank with an SBA partner bank, you can find the statewide and county specific SBA banks by clicking here
- Download the SAMPLE form and be prepared to provide the information provided therein.
- Stay connected with the SBA and US Treasury’s social media accounts, and be prepared for the official application to be released.
While waiting to submit your PPP application, consider the SBA’s Economic Injury Disaster Loan (with a forgivable $10k advance) as an additional resource. Learn more by visiting our information portal.
Restaurant & Food Industry News
Howard County Launches “HoCo Food Go” Delivery and Carry Out Resource
Today, Howard County Executive Calvin Ball launched an innovative new map for Howard County restaurants and bars to list their delivery and carryout options. The resource, “HoCo Food Go” is available online and via mobile device and allows customers to see an overview of restaurants, including their website, phone, hours and location. To date, 94 restaurants provided information for inclusion. If you would like your restaurant listed, please be sure to complete this online form.
National Restaurant Association Education Foundation (NRAEF) Launches Restaurant Employee Relief Fund
Restaurant workers can apply for a grant paid for by the NRAEF fund starting Thursday, April 2, and will receive a one-time $500 check within three weeks to use toward housing, medical bills, student loans, groceries, and other expenses. These grants will be administered on a “first-come, first-serve basis.”
Saval Foodservice Curbside Pickup Now Available
Saval Foodservice has opened up its Warehouse to the public for people to purchase food and have Curbside Pickup at 6740 Dorsey Road in Elkridge, MD. Saval Foodservice has the following categories of food available online: steaks, breads, frozen vegetables, seafood, chicken, entrees, ground beef, cheese, pasta, water, milk, and household essentials. Go to www.mysaval.store to order your food and pick up Monday through Friday 9:00 am - 4:00 pm.
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