Designer Dialogue Recap
Title: Designer Dialogue Recap
On Thursday, April 23rd, DESIGNxRI held the first Designer Dialogue titled COVID-19 Business Impact and Relief Opportunities. Special guest Doris Blanchard, Assistant Director SuppyRI with Rhode Island Commerce joined us to provide an update on resources and access to capital information available to small businesses during COVID-19. She also answered several questions from participants helping them to better navigate this complex process.
- A review of the resources available at commerceri.com, including disaster loan options, tech help, lender recommendations, business guidelines during crisis,
- Outline of the SBA Economic Injury Disaster Loans (EIDL) - Learn more here.
- Outline of the SBA Paycheck Protection Program (PPP) - Learn more here.
- While the initial CARES Act had expended all funds, passage of the next round of stimulus funding is expected any day including $310 billion more in loans for the PPP. Doris advised participants that still need to apply to call their bank to ask if they are participating, make sure 2018 and 2019 taxes have been filed and to gather all necessary documents so they are ready to go when it becomes available. If you don’t qualify for PPP, ask your bank about a line of credit.
- SBA Express Bridge Loans provide access to up to $25,000 quickly while waiting for decision and disbursement on EIDL.
- SBA Debt Relief automatically pays the principal, interest and fees of new and current 7(a), 504 and microloans as well as deferment through December 31, 2020 of disaster loans in “regular servicing” status on March 1, 2020.
- Microenterprise Stabilization Grant Program, LISC/Verizon and LISC/Sam’s Club grants now available, more information here.
- Regular unemployment insurance is available as well as Pandemic Unemployment Assistance for independent contractors, gig workers, self-employed or small business owners. Unemployment insurance is also available if your place of employment is still open but you are unable to work because of COVID-19.
To view a copy of the presentation click here.
To watch the webinar click here.
Designer Dialogues are a series of free zoom meetings programmed by DESIGNxRI offering a chance for members of the Rhode Island design community to come together and hear important updates, share, discuss and work through challenges.