MBDA Business Center CARES Act Program
The Minority Business Development Agency (MBDA) announced the MBDA Business Center CARES Act Program in response to the COVID-19 pandemic with the aim to provide aid, relief, and economic security through education, training, and advising small and minority business enterprises in their recovery from the effects of the COVID-19 crisis.
Responding at once, the California Asian Pacific Chamber of Commerce (CAPCC), operator for the Sacramento MBDA Export Center, opened its Triage Center with the purpose to aid MBEs in preventing, preparing, and responding to the COVID-19 pandemic. The Triage Center is diligently aiding MBEs through three phases over the course of the next year: Triage, Recovery, and Rise.
MBE training, education, and consultation topics, provided by Subject Matter Experts (SMEs) and the California Asian Pacific Chamber of Commerce, may include:
Identification of funding provided for unique circumstances resulting from COVID-19
Pivoting Your Business to Adapt to the New Normal
August 24, 2020, at 11:00 AM PST
To prepare for the post-pandemic economy, businesses need to start planning and adapting today. The session will cover how to:
- Leverage your skills and expertise to pivot to new revenue streams
- Prepare for revenue shortfalls and consider revenue opportunities
- Project and develop a future business plan and budget
How Disaster Loans Will Impact Your Business Tax Strategy & Planning
September 9, 2020, at 11:00 AM PST
Receiving a PPP/EIDL loan will have implications for your business taxes and planning. This session will cover the following:
- Impact of the PPP/EIDL loans to your tax liabilities and decisions
- Employee Retention Credits
- Changes to retirement planning
Small Business Resources
EIDL Loan Advance
EIDL is designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue. EIDL proceeds can be used to cover a wide array of working capital and normal operating expenses, such as continuation of health care benefits, rent, utilities, and fixed debt payments.
SBA Express Bridge Loans
Express Bridge Loan Pilot Program allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loans or used to bridge the gap while applying for a direct SBA Economic Injury Disaster loan.
SBA Debt Relief
The SBA will pay 6 months of principal, interest, and any associated fees that borrowers owe for all current 7(a), 504, and Microloans in regular servicing status as well as new 7(a), 504, and Microloans disbursed prior to September 27, 2020.
Need Medical Supplies or PPE Equipment?
The Sacramento MBDA Center looks to support businesses in connecting Medical Supplies & PPE buyers with screened suppliers of masks, gloves, hand sanitizer, face shields, and more. Click the button to access a directory of suppliers.