- Community Development
Last Updated 4-16-2020.
- Funds for the Paycheck Protection Program (PPP) have nearly been exhausted. Due to the overwhelming need for support, the SBA has processed 14 years worth of loans in 14 days. Currently, there are no additional appropriations, though it is possible that Congress will approve additional dollars for this program. Here is what we know:
Community Ventures is not processing applications for the Paycheck Protection Program. We are still providing technical assistance to clients who may have questions regarding this or other assistance, but applications need to be made through your bank or credit union. If you have questions, please reach out to your Business Development Specialist or to our Support Team at email@example.com.
Community Ventures is working to support the communities across Kentucky as we all work through the impact of the Coronavirus pandemic. Our commitment to our mission has never been stronger. As priorities shift, we solidify our commitment to helping Kentucky families struggling to manage the fallout.
As the federal government, state government, and private enterprises develop ways to support people through this crisis, we will provide information, access to resources, and answers to your question, as best as we can.
READ BELOW TO LEARN MORE ABOUT THE EIDL PROGRAM. REMEMBER, THE APPLICATION WINDOW FOR THIS LOAN HAS CLOSED, BUT MAY RE-OPEN IF MORE FUNDS ARE ALLOCATED.
SBA Economic Injury Disaster Loans (EIDL)
The U.S. Small Business Administration is offering low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).
SBA Economic Injury Disaster Loans are available to small businesses and private, non-profit organizations in designated areas of a state or territory to help alleviate economic injury caused by the Coronavirus (COVID-19).
SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance and can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
As part of the CARES Act’s provision of assistance to businesses applying for an Economic Injury Disaster Loan (EIDL), small businesses and non-profits may also apply for a $10,000 Advance. This Advance may be available even if your application is denied or is still pending.
If you wish to apply for the Advance on your EIDL, please visit www.SBA.gov/Disaster as soon as possible to fill out a new, streamlined application. In order to qualify for the Advance, you need to submit this new application even if you previously submitted an EIDL application. Applying for the Advance will not impact the status or slow your existing application.
NOTE: Please be aware of the potential for scams, fraud and abuse, related to the economic recovery from the COVID-19 outbreak. If you have questions or concerns about information you have received about the Paycheck Protection Program, the Economic Injury Disaster Loan, or any other support services available, you can contact us at (859) 231-0054 or email Lew Whalen at firstname.lastname@example.org. We will help to get your questions answered from verified sources.
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