REAP News

Rural location should not prevent business from receiving help

While states are beginning to reopen in the midst of the coronavirus pandemic, businesses are still hurting.

They will be for some time.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act passed by Congress in March was a good first step in helping businesses overcome economic challenges. 

Center offers Express Loans up to $10,000, Small Business Administration payment relief

You can count on our relentless commitment to you and your business during this unpredictable time.

I want to let you know about our Express Loans. Qualifying loans may be eligible for up to six months of payment assistance from the Small Business Administration under the Small Business Debt Relief Program of the CARES Act. These Express Loans are available to new and returning borrowers.

You can start an application at: cfra.org/onlineapplication

Groups call on Congress to treat rural, urban businesses equally

As lawmakers consider legislation to address the economic fallout of the coronavirus pandemic, a group of 65 small business lenders, including the Center for Rural Affairs, across 32 states are calling on Congress to treat rural and urban businesses equally when it comes to providing relief. 

In a letter to Congress, the group is requesting that any new legislation to address the coronavirus pandemic include six months of principal, interest, and fee payment relief for Rural Microentrepreneur Assistance Program borrowers, similar to that already granted to businesses who borrow through Small Business Administration.

Small businesses: PPP funds are exhausted, now what?

As of Thursday, April 16, the U.S. Small Business Administration (SBA) announced that the Paycheck Protection Program (PPP) had reached the maximum loan limit authorized by Congress, just 14 days after small businesses were first able to apply.

The program was created as part of the CARES Act, signed into law on March 27, 2020, which included $377 billion in relief to small businesses, with $350 billion of that allocated to the PPP.

Congress is debating a proposal to add $250 billion to the program. Action could come as soon as next week.

Staff spotlight: Jessica dives into new role as Women’s Business Center director

From workshops and one-on-one training to networking events across the state to personal coaching and business assistance, the Center for Rural Affairs’ Rural Enterprise Assistance Project (REAP) Women’s Business Center goes above and beyond to provide these free services to all Nebraskans.

Recently hired to take on the role of Women’s Business Center director, Jessica Campos jumped at the chance to work with the Center to help entrepreneurs and small business owners begin and expand successful businesses.

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