{"id":694,"date":"2021-10-21T11:35:55","date_gmt":"2021-10-21T11:35:55","guid":{"rendered":"https:\/\/www.mysetaside.com\/newsevents\/?p=694"},"modified":"2021-10-21T11:36:00","modified_gmt":"2021-10-21T11:36:00","slug":"sba-rhode-island-district-office-weekly-news-updates","status":"publish","type":"post","link":"https:\/\/www.mysetaside.com\/news-and-events\/sba-rhode-island-district-office-weekly-news-updates\/","title":{"rendered":"SBA Rhode Island District Office Weekly News & Updates"},"content":{"rendered":"\n
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\nOctober 15, 2021 <\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/a>\n\n\n\n
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\nRhode Island District Office  –  October 15, 2021<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/td>\n<\/tr>\n

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\nFrom the Director\u2019s Desk
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\"Mark
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\nSince March of 2020, the SBA has been at the forefront of our nation\u2019s economic recovery effort.  That was when SBA\u2019s Office of Disaster Assistance began accepting COVID Economic Injury Disaster Loan (EIDL) applications. Over these last 18 months, the SBA approved\n over 11,128 COVID-EIDL loans for $747 Million dollars in Rhode Island.  This program has been instrumental in the long-term recovery of businesses across Rhode Island and beyond.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\nIf your business is still struggling, you certainly aren\u2019t alone. Although many closed sectors of our economy have reopened, and our nation\u2019s people have begun to adjust to the \u201cnew normal\u201d, it still is not \u201cbusiness as usual\u201d quite yet.  Especially with the\n emergence of the Delta variant, the struggle is far from over. Small businesses across the country continue to need financial relief to get to the other side of this crisis. And the SBA is <\/em>still here to help. <\/p>\n

\nSBA\u2019s COVID EIDL program could be a good option for your business.  Recently the SBA announced changes to this program that makes it even more flexible to meet your needs.  Although these loans are not forgivable, with a 3.75% fixed interest rate, terms of\n up to 30 years, and deferred payments, these loans could help with your recovery. Think about it this way, if your business is granted a $10,000 COVID EIDL loan, after the deferment period, your monthly payment will only be approximately $46 a month.<\/p>\n

\nSincerely,<\/p>\n\n\n\n
\"Mark<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\nMark S. Hayward
\nDistrict Director<\/p>\n

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\nThe recent changes made to COVID EIDL include:<\/h2>\n