Resources for Eventing Businesses and Non-Profits Impacted by COVID-19

How COVID-19 and new federal laws will affect the ATM industry

How COVID-19 and new federal laws will affect the ATM industry

DEO is now surveying businesses throughout the state of Florida who have been impacted by COVID-19.

The United States Small Business Administration (SBA) is looking to help integrators and other small business owners during this tough economic time by making it easier to apply for low-interest loans. "We're all grateful to President Trump and the SBA for responding rapidly to the problems faced by small businesses in Alabama". SBA customer service representatives will be available to answer questions about SBA's Economic Injury Disaster Loan program and explain the application process.

The state of Minnesota is offering emergency loans of up to $35,000 to businesses struggling to survive the shutdown brought on by the spread of the novel coronavirus.

"SBA is strongly committed to providing the most effective and customer-focused response possible to assist Wisconsin small businesses with federal disaster loans", said SBA Administrator Jovita Carranza.

The 7 (a) loan program is the SBA's primary program for providing financial assistance to small businesses. The legislation would also delegate more authority to lenders on eligibility determinations without requiring them to go through all of the usual SBA channels. The USEA headquarters is working to provide information regarding disaster assistance that may be available for those eventing businesses and non-profits.

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Export Working Capital program enables small businesses to fulfill export orders and finance worldwide sales by providing revolving lines of credit or transaction-based financing of up to $5 million.

Express Loan Program: Provides loans up to $350,000 for no more than seven years with an option to revolve and has a turnaround time of 36 hours for approval or denial of a completed applications. "We'll figure out what the necessities are for the next 60 days that we can help complement in that we will [provide] a short-term loan ... and then on day 91 after the SBA loan is closed on and you get the proceeds from that, you'll pay back our Onondaga County loan".

Gov. Tim Walz, by executive order, made $30 million available for the program, which could end up helping as many as 5,000 businesses.

The low interest loans will cover economic losses from January 31st through December of this year. But the agency asks those seeking more than $25,000 to put up collateral, preferably real estate. Authorized uses of loan proceeds include working capital, supplies, machinery and equipment, and fixtures (not real estate).

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