CCEDC releases Paycheck Protection Program information

According to an April 3 news release by the Calhoun County Economic Development Corporation, new assistance for businesses and those who are self-employed affected by COVID-19 is now available through the CARES Act.

President Donald Trump signed the CARES Act into law on March 27.

The Paycheck Protection Program is a forgivable loan through the Small Business Administration for any small business with less than 500 employees (including sole proprietors, self-employed persons and independent contractors), and qualifying non-profit and veterans’ organizations affected by COVID-19.

Details and other information is available at https://home.treasury.gov/system/files/136/PPP--Fact-Sheet.pdf

You can also find information on the SBA’s website at https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/pa...

To apply, contact a local participating bank, which includes United Bank of Iowa, Heartland Bank and Iowa Savings Bank in Calhoun County. Applications are currently open for small businesses and sole proprietorships, and open up on April 10 for independent contractors and self-employed.

If you have questions or need help with your business documents for the loan, contact NCI Small Business Development Center on Facebook at www.facebook.com/ncisbdc/, by phone at (515) 576-6242 or e-mail kimberlyt@ncisbdc.com. Their services are at no cost.