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In this Must Know…
- Unemployment Insurance Help for the Self-Employed
- PPP Updates from SBA
- AEO to Manage $10 million Grant Fund
- Correction: An error in one of the charts in last week’s blog post on increased demand for member services has been corrected.
- This week’s Goodie highlights are two government grant opportunities you won’t want to miss.
Unemployment Insurance Help for the Self-Employed
Since April 28, self-employed workers have been eligible to apply for the Pandemic Unemployment Assistance (PUA), but they aren’t doing so in any number.
CAMEO is partnering with Zitrin Family Foundation, Legal Aid At Work, and the Renaissance Center to help self-employed workers in California through a legal clinic that will check eligibility and walk people through the application process.
Please help us spread the word and refer your clients who may need the help. You can access our toolkit for cut and paste emails and social media posts. We ask that you send out at least one solo email to your client list and post on social media. If you would like to do more and want to partner, contact Heidi for more details.
PPP Updates from SBA
Based on the PPP Flexibility Act of 2020, the maturity of all loans approved on or after June 5, 2020 will be for 5 years. Loans approved and/or funded prior to that date with the 2-year maturity may be extended by the lender and borrower mutually agreeing to a 5 year maturity.
To ensure you get processing fees:
- Submit your PPP 1502 report to SBA in accordance with the SBA Procedural Notice.
- Ensure your ACH information is correctly reflected in the FTA Lender Portal.
AEO to Manage $10 Million Grant Fund
AEO announced their new PayPal Empowerment Grants for Black Businesses Program, a $10 million initiative that will provide direct support to Black business owners impacted by COVID-19 or civil unrest, to cover expenses related to stabilizing and reopening their businesses.
The program will award up to $10,000 to more than 1,000 black-owned businesses.
The Goodies
Funding Opportunities
- HHS’ CED Program supports business start-up and expansion activities that improve their communities. Applications are due July 3, 2020.
- The CDHCD announced the NOFA for the Community Development Block Grant Coronavirus Response Round 1. Applications are due August 31, 2020.
New Research
- McKinsey published a report on COVID-19’s effect on minority small businesses in the United States.
- According to SBA’s 2020 Small Business Profile, 97.8% of California’s businesses have fewer than 20 employees.
Other Goodies
Jobs: Small Business Majority, Cutting Edge Capital, and California Reinvestment Coalition announced new jobs recently. See who else is hiring!