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COVID-19 News for Small Businesses

The COVID-19 pandemic has changed the way we do business. We will provide you with updated information as we receive it to help you weather this new and challenging time.

Coronavirus Aid, Relief, and Economic Security (CARES) Act – This umbrella program provides assistance to individuals through stimulus payments and to small business through the programs below.

Paycheck Protection Program (PPP) – Businesses with employees are eligible for an SBA-backed low interest loan to pay employee wages, make mortgage or rent payments, pay utilities and more. The loan may be forgiven if used for approved expenses. For details and to apply, see SBA Coronavirus Options.

Economic Injury Disaster Loan Emergency Advance (EIDL) – This Small Business Administration program offers a loan advance of up to $10,000 to businesses experiencing a temporary loss of revenue because of COVID-19. The loan does not have to be repaid.

Idaho Rebounds Grants for Small BusinessesGrants of up to $10,000 will be available starting May 11 to qualifying small businesses domiciled in Idaho. Businesses must have established a withholding account with the Idaho State Tax Commission prior to January 1, 2020. Businesses with 50 or fewer employees who did not receive funding through a Federal program may be eligible. Single member businesses, such as sole proprietors or LLCs, and those who work as independent contractors do not qualify.

Pandemic Unemployment Assistance for Self-employed – Those who are self-employed or work as independent contractors may be eligible for assistance through this program.

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