The Tar Heel Newsletter October 2021
Learn more about recently made changes to Covid EIDL
Increasing the COVID EIDL Cap. The SBA will lift the COVID EIDL cap from $500,000 to $2 million. Loan funds can be used for any normal operating expenses and working capital, including payroll, purchasing equipment, and paying debt.
Implementation of a Deferred Payment Period. The SBA will ensure small business owners will not have to begin COVID EIDL repayment until two years after loan origination so that they can get through the pandemic without having to worry about making ends meet.
Establishment of a 30-Day Exclusivity Window. To ensure Main Street businesses have additional time to access these funds, the SBA will implement a 30-day exclusivity window of approving and disbursing funds for loans of $500,000 or less. Approval and disbursement of loans over $500,000 will begin after the 30-day period.
Expansion of Eligible Use of Funds. COVID EIDL funds will now be eligible to prepay commercial debt and make payments on federal business debt.
Simplification of affiliation requirements. To ease the COVID EIDL application process for small businesses, the SBA has established more simplified affiliation requirements to model those of the Restaurant Revitalization Fund.
COVID EIDL Applicants: Join SBA's COVID EIDL Application Completion Office Hours for information about the application process and get your questions answered to apply for COVID EIDL funds. For more information about COVID EIDL, visit the SBA website.
Wednesday, October 6 at 12:30 – 1:30 PM ET Join here
Wednesday, October 13 at 12:30 – 1:30 PM ET Join here
Eligible small businesses, nonprofits, and agricultural businesses can learn more about and apply by visiting www.sba.gov/eidl. The last day that applications may be received is December 31, 2021, pending the availability of funds. All applicants should file their applications as soon as possible. Make Locally, Sell Globally October is Manufacturing Month Looking to grow your business and increase profits by selling globally? Join us throughout October to hear insights from exporting and manufacturing experts. This month-long Manufacturing webinar series will run every Thursday in October. •Early stage Manufacturers Oct 7: Explore federal resources available to support the idea phase, commercialization, and global growth journey of early stage manufacturers. •Financing/Credit Insurance Oct 14: Listen in on a discussion of finance challenges and solutions for manufacturers. Learn from the experts! •Supply Chain Oct 21: The Manufacturing Extension Partnership ( MEP) will facilitate a discussion on supply chain solutions for SME manufacturers. Learn how your company improve operations, reduce costs, and mitigate risk through effective supply chain management! •Celebrando el Mes de la Manufactura Oct 28: This Spanish language webinar will feature Hispanic owned manufacturers sharing their export success stories and an overview of Federal export promotion resources Register now for individual sessions or the entire series. Note: All webinars will be offered Thursdays at 2:00 PM EDT Click Here To Register National Disability Employment Awareness Month Hiring disabled individuals can help businesses meet their talent needs while strengthening their competitive edge. By hiring individuals with disabilities, businesses can:
Expand their pool of talent
Create a culture of diversity
Meet their workforce needs
Foster creative business solutions
Generate goodwill among customers
A disability is considered a physical or mental impairment that substantially limits one or more major life activity. Individuals with disabilities often need workplace accommodations—a modification or adjustment to a job, the work environment, or the way things are usually done during the hiring process. By investing in recruiting, hiring, and retaining talent, including people with disabilities, businesses can give themselves a competitive edge and demonstrate their commitment to inclusion. To learn more visit: Hire employees with disabilities (sba.gov) October is National Women's Small Business Month The Office of Women’s Business Ownership (OWBO) helps women entrepreneurs through programs coordinated by SBA district offices. Programs include business training, counseling, federal contracts, and access to credit and capital. The OWBO oversees Women’s Business Centers (WBCs). These centers seek to level the playing field for all women entrepreneurs, who still face unique obstacles in the business world. Businesses receiving assistance from WBCs see a significantly better success rate than those without similar support. Find your nearest center. Funding for women-owned small businesses The 8(a) Business Development program helps small, disadvantaged businesses compete in the marketplace. Check with WBCs and local assistance resources for guidance, and our Lender Match tool for finding capital. Women-owned small businesses can also take advantage of SBA loan programs. Our partners offer advice and counseling to help choose the right path for your company. Women-Owned Small Businesses (WOSB) Federal Contracting program This program helps women-owned small businesses compete for federal contracts. Understand the eligibility requirements before applying. SBA also works with federal agencies to increase contracting opportunities and achieve the government’s five percent contracting goal for women-owned small businesses. Keep an eye out for matchmaking events targeting both the federal and private procurement. 7(j) Management & Technical Assistance Training Marketing to the Government Buyer SBA has partnered with Florida State Minority Supplier Development Council to bring to you this 7(j) management and technical assistance training. There are more than 17,000 federal government contracting officers that buy goods and services. At this workshop, you will learn how to effectively market to the federal government, find business opportunities and stand out from the competition. Thursday, October 14, 2021 from 10:00AM - 11:30 AM ET Click the link to register below. Register Here 6 Actionable Marketing Strategies to Get More Customers to Your Business SBA has partnered with Florida State Minority Supplier Development Council to bring to you this 7(j) management and technical assistance training. Business owners work hard to do “all the things” right to create a profitable business. Many times we spend countless hours and precious money on marketing without generating the leads and sales we desire. At the end of this workshop, you will have clarity on which actions to take to market your business successfully. You will also receive a strategy template so you leave with step-by-step actions to attract more profitable customers to your business and accomplish your custom marketing goals. Thursday, October 28, 2021 10:00AM-11:30AM ET Click the link to register below. Register Here Government Contracting Workshops SBA is partnering with The Catalyst Center for Business and Entrepreneurship to provide workshops throughout the month of October. Please note on the table below that registration is required to attend the workshops. OCTOBER 2021 Workshop Name Date **All times are 3:00 to 5:00 pm CST unless noted Workshop Leader(s) Registration Link No Fees for any workshops Government Procurement Process10/5/2021BMSS - Becky Ramsey Government Procurement Process (ecenterdirect.com) Cash Flow for Gov Con10/7/2021Parabilis - Teresa Moon Working Capital Funding Options for GovCons (ecenterdirect.com) Government Contracting 10110/12/2021Leigh, Kevin, Joy, KathleenGovernment Contracting 101 (ecenterdirect.com) Small Business Certifications, FAR 19 & things you didn’t know10/14/2021Engenix - Joe Eversole & Leigh & DavianSmall Business Certifications and FAR 19 - things you didn't know (ecenterdirect.com) Key Performance Indicators10/19/2021Anglin Reichmann – Meg HamptonKey Performance Indicators (KPIs) (ecenterdirect.com) The Forgotten Factor - Judgment10/21/2021White Space Innovations – Charles PlottThe Forgotten Factor – Judgement (ecenterdirect.com) NASA HBCU/HUBZone Special Event10/26/2021Event Find agenda at Registration link 7th Annual HBCU/MSI Partnerships Meeting in Collaboration with NSF EPSCoR Tickets, Tue, Oct 26, 2021 at 9:00 AM | Eventbrite Human Resource Basics for Government Contractors10/28/2021Rocket City HR – Sheila Boyd Anglin Reichmann – Meg HamptonHuman Resources Basics for GovCon (ecenterdirect.com) SBA Account Login and Registration Portals Wondering how to access your SBA account login for loans, grants, or contracting? This webpage has details of how to do that for your Paycheck Protection Program, Economic Injury Disaster Loans, 7a and 504 loans, Shuttered Venues Operators Grant, and more. It can help existing borrowers and contractors monitor their loan status, find the pages to set up and manage online payments, and more. Click Here Helpful Links Disaster (EIDL loans or advances/grants): DisasterCustomerService@sba.gov or (800) 659-2955. SBA PPP Webpage To report waste, fraud, or abuse: OIG hotline (800) 767-0385 or OIGHotline@sba.gov Follow us on Twitter! @SBA_NC SBA North Carolina District Office 6302 Fairview Road, Suite 300 Charlotte, NC 28210 Phone: (704) 344-6563 sba.gov/nc Follow us @ SBA_NC