Basic Training

COVID-19 Resources

Thursday, May 7, 2020, from the SBA: The SBA Express maximum loan temporarily increased to $1,000,000, expiring December 31, 2020. Also, Upfront Guaranty Fee Relief for SBA Express loans to Veteran-Owned Small Businesses: Section 1102(d) of the CARES Act amends Section 7(a)(31)(G) of the Small Business Act (15 U.S.C. 636(a)(31)(G)) by removing the exception provision in paragraph 7(a)(31)(G)(ii) for guarantee fee waivers for veteran-owned businesses. As a result of this change to the Small Business Act, for all SBA Express loans to veteran-owned small businesses approved on or after March 27, 2020, the upfront guaranty fee will permanently be zero.

Monday, May 4, 2020, from the SBA: The SBA Administrator, Jovita Carranza, announced today that agricultural businesses are now eligible for SBA’s Economic Injury Disaster Loan (EIDL) and EIDL Advance programs. SBA’s EIDL portal will reopen today as a result of funding authorized by Congress through the Paycheck Protection Program and Healthcare Enhancement Act. The legislation, signed into law by the President one week ago, provided additional funding for farmers and ranchers and certain other agricultural businesses affected by the Coronavirus (COVID-19) pandemic. “For more than 30 years, SBA has been prohibited by law from providing disaster assistance to agricultural businesses; however, as a result of the unprecedented legislation enacted by President Trump, American farmers, ranchers and other agricultural businesses will now have access to emergency working capital,” said Administrator Carranza. “These low-interest, long-term loans will help keep agricultural businesses viable while bringing stability to the nation’s vitally important food supply chains.” Agricultural businesses include businesses engaged in the legal production of food and fiber, ranching, and raising of livestock, aquaculture, and all other farming and agricultural related industries (as defined by section 18(b) of the Small Business Act (15 U.S.C. 647(b)). Eligible agricultural businesses must have 500 or fewer employees. The SBA will begin accepting new EIDL applications on a limited basis only, in order to provide unprecedented relief to U.S. agricultural businesses. For agricultural businesses that submitted an EIDL loan application through the streamlined application portal prior to the legislative change, SBA will move forward and process these applications without the need for re-applying. All other EIDL loan applications that were submitted before the portal stopped accepting new applications on April 15 will be processed on a first-in, first-out basis.

Wednesday, April 29, 2020, from the SBA: To ensure access to the PPP loan program for the smallest lenders and their small business customers, starting at 4 p.m. today EDT through 11:59 p.m. EDT, SBA systems will only accept loans from lending institutions with asset sizes less than $1 billion dollars.  Please note, lending institutions with asset sizes less than $1 billion will still be able to submit PPP loans outside of this time frame. Please also note that lenders with asset sizes greater than $1 billion will be able to submit loans outside of today’s 4pm -11:59pm EDT reserved processing time. This reserved processing time applies today April 29, 2020. SBA and Treasury will evaluate whether to create a similar reserved time again in the future. SBA and Treasury continue to monitor loan system performance and will continue to provide frequent updates to the lending community.

Monday, April 27, 2020 from the SBA: At 10:30 EDT, the SBA began accepting PPP Loan applications from approved lenders on behalf of any eligible borrower. All eligible borrowers who need these funds should work with an approved lender to apply. The PPP lender assistance hotline is 833-572-0502. New EIDL Loan applications are not currently being accepted. If you have already submitted an application for an SBA Economic Injury Disaster Loan (EIDL) as a result of the Coronavirus Pandemic and your Application Number starts with a three (3), your request will be processed in the order it was received and you will be contacted once a decision has been reached. You can update or correct information submitted at the time a Loan Officer contacts you to process your application. The SBA will resume processing EIDL Loan and Advance applications that are already in the queue on a first come, first-served basis. If you have additional questions or require further assistance, please call SBA’s Disaster Customer Service Center at 1-800-659-2955 or, for the deaf and hard-of-hearing 1-800-877-8339 (Monday through Friday from 8:00 am to 8:00 pm, Saturday and Sunday from 8:00 am to 8:00 pm Eastern Time) or email us at: disastercustomerservice@sba.gov. SBA Debt Relief Options: The SBA will automatically pay the principal, interest, and fees of current 7(a), 504, and microloans for a period of six months. The SBA will also automatically pay the principal, interest, and fees of new 7(a), 504, and microloans issued prior to September 27, 2020. For current SBA Serviced Disaster (Home and Business) Loans: If your disaster loan was in “regular servicing” status on March 1, 2020, the SBA is providing automatic deferments through December 31, 2020. Interest will continue to accrue on the loan. The deferment will NOT cancel any established Preauthorized Debit (PAD) or recurring payments on your loan. Borrower must cancel any automated payments. Borrowers may continue remitting payments during the deferment period, if they so choose.

Private, Non-Government Resources NEW

SBA South Florida’s Virtual Office Hours (drop-in at will); all times listed are EDT

Tuesday – Friday 
9am – 11am
Join Microsoft Teams Meeting
202-765-1264; Conference ID – 472 600 155

Tuesday – Friday 
1pm – 3pm
Join Microsoft Teams Meeting
202-765-1264; Conference ID – 207 474 436

Small Business Forum, Tuesday, June 2, 2020, 10:00 A.M. – 1100 A.M.: The IRS Small Business/Self Employed Division (SB/SE) is pleased to announce an opportunity for the small business community to talk with Darren Guillot Deputy Commissioner, SB/SE Collection and Operations Support. IRS, in partnership with the US Chamber of Commerce and the National Federation of Independent Business, will host a Small Business Forum to share information. IRS is committed to delivering the programs and services that educate and assist small business and self-employed taxpayers in understanding and complying with the tax laws. We value dialogue with small business organizations and other government agencies and look forward to meeting with you, our partners. The call in number is 888-331-8226; access code is: 4051278.

National Women’s Business Council: Visit HERE to view upcoming topics for Webinar Wednesdays, webinars to support women entrepreneurs in starting and growing your business.

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Military Basic Training was intended to give you the skill sets you would need to survive in a military environment. This section will help you prepare to survive in the private sector business environment, providing FREE training and resource guides in the most common skillsets needed to start and grow your own successful business.

Like any business, intel and resources will evolve over time, so check back for updated materials and new topics. If you don’t see what you need, call us at 800-542-7232. We are honored to serve you!

Boots to Business: Intro to Entrepreneurship (B2B)

Boots to Business (B2B) is an entrepreneurial education and training program offered by the U.S. Small Business Administration (SBA) as part of the Department of Defense’s Transition Assistance Program (TAP). The VBOC encourages TAP-eligible and active duty personnel, military spouses, veterans and civilians with base access to attend this free 2-day introduction to entrepreneurship training class covering topics you need to consider before and as you start your business.

Boots to Business is organized by the Fleet & Family Support Center on Naval installations, the Airman & Family Readiness Center on Air Force bases, the Soldier-For-Life Transition Assistance Program on Army installations, through the Marine Corps’ Transition Readiness program, and the Coast Guard’s Health Service-Work Life Office. For a calendar of classes by type and/or by state, check out https://sbavets.force.com/s/. Under “Class Type,” select Boots to Business for training on military installations or Reboot for Veterans and their dependents that have already made the transition back to civilian life.

For more information on the Boots to Business program and SBA’s Office of Veteran Business Development, visit https://www.sba.gov/offices/headquarters/ovbd/resources/160511

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