To determine which of the following federal and state programs might work well for your business, or whether you qualify, please see the CEDF website at: www.CEDF.com and click the red banner at the top of the screen. If you have any questions or need any guidance, please reach out to the SBA District office at: email@example.com.
Business Bridge LoanThe Business Bridge Loan program is closed and is not anticipated to reopen. See the notice here: https://portal.ct.gov/DECD/Content/Coronavirus-Business-Recovery/CT-Recovery-Bridge-Loan-Program
SBA Disaster Relief LoanIf you have a partial application or have not completed it yet, start over with the new application and form. If you need to follow-up or have any questions, please contact the service center at: 1-800-659-2955. Information online is here: https://www.sba.gov/page/disaster-loan-applications
Paycheck Protection ProgramThis is part of the CARES Act. Applications will open Friday, 4/3/2020, and the application window closes 6/30/2020. You can find information about it here: https://home.treasury.gov/system/files/136/PPP–Fact-Sheet.pdf You can also visit: www.SBA.gov/CT and scroll to ‘More Resources’.
The highlights of the PPP are:
- 0.5% interest rate
- First payment deferred for 6 months
- 100% guarantee by the SBA
- No collateral, no personal guarantee, no borrower or lender fees
- Maturity rate of 2 years
CT Massage Therapy License RenewalsAll license renewals, including massage therapy, are suspended until six months after the civil preparedness emergency is declared to be over. Licenses not renewed will not expire during this timeframe.
For the complete text of the Order by the Department of Public Health, click here: https://portal.ct.gov/-/media/Coronavirus/20200330-DPH-order-on-License-Renewals.pdf?la=en
Thanks to Nikki Arel, AMTA-CT GR Chair for compiling this information.