SBA is actively accepting applications for the Restaurant Revitalization Fund

The SBA is currently accepting applications for the Restaurant Revitalization Fund (RRF). In fact, more than 186,000 applications have been submitted in the first couple days

While all qualified businesses are allowed — and encouraged — to apply now, under the law the SBA will prioritize RRF applications from small business concerns owned and controlled by women, veterans, and socially and economically disadvantaged individuals for the first 21 days of the program. Following the 21-day period, all eligible applications will be funded on a first-come, first-served basis.

For more information about eligibility, how to apply, and other details — including program information in more than 30 languages — visit the SBA website or call the support hotline at 1-844-279-8898.

4/23 3p: U.S. Rep. Pramila Jayapal CARES Act Workshop

Magnolia Chamber of Commerce 4/20

Congresswoman Pramila Jayapal CARES Act Workshop, Thursday, April 23, 2020 3:00pm-4:00pm PDT

Pre-Register for Zoom meeting.

(You will submit your name and email address at this link along with any questions or comments.  Once you register, you will receive an email with a link to join by device as well as phone numbers if you prefer to join by phone.)

U.S. Congresswoman Pramila Jayapal, who represents Magnolia and the 7th Congressional district, reports that she has received many constituent calls about existing CARES Act relief programs.  During the workshop this coming Thursday, the Congresswoman will take your feedback and answer your questions about these programs, and what to anticipate in the next phase in the economic relief effort should look like. 

Congress is expected to vote as early as this coming Wednesday, April 22nd,  to infuse an additional $300 billion into the Paycheck Protection Program. She will discuss her specific proposal for a Paycheck Guarantee Act that proposes the most direct and streamlined relief to small businesses and the workers they employ. Learn more during the briefing; it is anticipated that the final bill voted on this week will include some of the measures offered by Congresswoman Jayapal.

National Small Business Town Hall – Friday April 24th at 9am

Magnolia Chamber of Commerce 4/20

Small Business Relief – Paycheck Protection Program expected to benefit. Join National Small Business Town Hall on Friday, April 24th at 9:00 am (PT)

The U.S, House could meet as soon as this Wednesday morning, April 22, to consider an expected deal to provide about $300 billion of additional money to the Paycheck Protection Program, a part of the Cares Act. The Trump Administration reports that they are hopeful that an agreement with Democratic congressional leaders will be reached early this week.

In anticipation of Congressional action to reinvest in protecting small business from the impacts of the COVID-19 response, our members may want to access a virtual workshop offered by the U.S. Chamber of Commerce. On Friday, April 24 at noon ET (9:00 am, PT), Inc. and the U.S. Chamber will team up again for a fifth virtual National Small Business Town Hall to help small business owners alike navigate the programs that are available to them. Learn more on how to RSVP by clicking here.

Private Companies Grants & Loans

Magnolia Chamber – 4/9/20

There are a growing number of private sector companies, stepping up and offering specific loans, grants, and relief funds and information to assist small businesses:

Wefunder has funded ~$130M in hundreds of small businesses from over 400,000 investors. If your business has customers who care, Wefunder can help. Or, if there’s a small business you care about, nominate them for funding. In March, as the stock market has fallen, investments have doubled on Wefunder. People want to support the businesses they care about. Wefunder allows for investments (or loans) as small as $100 into the businesses that investors support. Typically, half of the funds come from a company’s own customer base, with the other half from the Wefunder investor-base. Wefunder says they then do the work of collecting funds and send you one wire when it’s over.

This site is full of information, tips, and inspiration to help guide small businesses through the crisis. As part of the company’s commitment to supporting small businesses, they are creating Salesforce Care Small Business Grants. They have announced that they will soon be offering $10,000 grants to U.S. small businesses to provide capital to help them weather this crisis. International small business support will be announced soon. Learn more about Salesforce Care Small Business Grants.

Hello Alice
Team Alice has launched a central resource hub for small business information and support during the COVID-19 pandemic. Funding, technology, and informational resources have, and are being created and shared daily. Hello Alice aims to ensure small business owners have the opportunities at their disposal to keep the business operating during this turbulent time. 

PayPal Working Capital
PayPal Working Capital is available to select businesses that already process payments through PayPal. If your business qualifies, the lender reviews your PayPal sales history to customize a special offer.

James Beard Foundation Food and Beverage Industry Relief Fund
To help bring swift economic relief to these essential businesses, the Foundation is launching a fund that will be gathering support from corporate, foundation, and individual donors to provide micro-grants to independent food and beverage businesses in need