Coming soon! SBA will launch the Community Navigator Pilot Program, a $100 million grant program enacted through the American Rescue Plan Act, which will provide counseling, networking and the assistance needed during this time of economic recovery to the nation’s smallest businesses. The program will target small businesses owned by socially and economically disadvantaged individuals, as well as women and veterans.
The SBA will engage with states, local governments, SBA resource partners, Community Financial Institutions (CFIs), and other organizations in directed outreach efforts. These partners and people in the community are key to this pilot program as they will serve as a two-way information stream, enabling enterprising business owners to receive the help needed from the SBA.
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In case you missed it! Eligible eating establishments have until May 24, 8:00 p.m. ET to submit applications to the Restaurant Revitalization Fund.
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SBA is currently offering PPP loans originated only by participating community financial institutions including Certified Development Companies (CDCs), SBA Microlenders, Community Development Financial Institutions (CDFIs), and Minority Depository Institutions (MDIs) until May 31, 2021 or until remaining funds are exhausted. Please note that not all community financial institutions are participating in PPP.
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Update: SBA recently posted FAQs about funds returned by banks for Targeted EIDL Advance and Supplemental Targeted Advance. When a bank returns Targeted EIDL Advance or Supplemental Targeted Advance funds to SBA, the funds cannot be immediately re-disbursed. SBA is working to mitigate this issue.
Read the FAQs
SBA is currently accepting applications for the Shuttered Venue Operators Grant. To submit an application, visit sba.gov/svogrant.
Join SBA for an online panel discussion with Asian American and Native Hawaiian/Pacific Islander-owned small businesses on May 27 as they share their small business stories and how they utilized SBA’s economic aid to pivot during the pandemic.
You will also learn about the SBA resources available to help entrepreneurs compete in the marketplace: launch or expand businesses; receive counseling; funding opportunities; and help to recover or rebuild from disasters.
Register
May is World Trade Month and the SBA has teamed up with partnering organizations to offer webinars all month to help small business owners gain valuable insights on strategies for international sales success. All webinars begin at 2:00 p.m. EDT.
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May 25 | Business Beyond Borders: Commemorating World Trade Month | Register here
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May 27 | Logistics of Growing Global eCommerce | Register here
With 30 named storms, the 2020 Atlantic hurricane season was one of the most active and costliest on record. The 2021 Hurricane season starts on June 1 but it’s never too early to prepare. Damage from a hurricane can be costly for small businesses and can pose hazards for you and your employees. Fortunately, there are ways that you can fortify your business against a hurricane to minimize losses and reduce risks for workers.
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Be Inspired: Small Business Success Story
During Asian American and Native Hawaiian/Pacific Islander Heritage Month, we’re highlighting inspiring people like Alice Kao who are making a big impact on the economy and their communities.
Alice Kao discovered a passion for indoor climbing while living and working in London during a difficult time in her life. To share the healing and self-discovery that climbing brought her, Kao and her business partners launched Sender One after she returned to the United States. The first facility opened in Orange County, California but the company grew quickly to two locations with dozens of employees and millions of dollars in sales.
Learn more
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Webinar: Mental Health Parity Compliance Assistance
May 27 | 2:00 p.m. ET
If you are an employer with a group health plan who is trying to comply with the Mental Health Parity and Addiction Equity Act, or a plan service provider with questions, the U.S. Department of Labor’s Employee Benefits Security Administration is holding a free webcast to help you understand the law on May 27. The webcast will cover the recently enacted changes to the law made by the Consolidated Appropriations Act, 2021, new FAQs and other guidance and tools available to help you.
Register
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The SBA recently launched the Shuttered Venue Operators Grant and Restaurant Revitalization Fund. Bad actors may take this opportunity to impersonate lenders or government officials in emails, robocalls, social media accounts and phony websites. Their goal is to attract victims and commit fraud, scams and schemes. The result is financial or personally identifiable information (PII) loss for the victims.
As a reminder, the SBA directly communicates from email addresses ending in @sba.gov. The SBA also communicates via email updates/notifications using an email marketing platform, (the same one you are receiving this newsletter from). Those emails end in @updates.sba.gov.
If you applied for the Shuttered Venue Operators Grant and emailed the SVOG Support Center, you may receive an email back from a zendesk.com account. This is an authorized SBA contractor.
If you are being contacted by someone claiming to be from the SBA who is not using an official SBA email address, you should suspect fraud. To report potential fraud, visit sba.gov/covidfraudalert.
Federal Coronavirus Resources
State, local, and federal agencies are working together to maintain the safety, security, and health of the American people. Check out coronavirus.gov for updates from the White House's COVID-19 Task Force. Go to cdc.gov for detailed information about COVID-19 from the Centers for Disease Control and Prevention. Visit covid-sb.org, the official federal resource website for U.S. small businesses affected by COVID-19.
Learn more about the federal government's response
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Virtual Mentoring and Training
Offices around the country may be closed due to the pandemic, but SCORE, Small Business Development Centers, Women’s Business Centers, Veterans Business Outreach Centers and other resource partners are providing free business mentoring and training by phone, email, and video.
Find an SBA resource partner near you
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