RAPID RESPONSE TACTICAL RESOURCE GUIDE
PREPARED BY
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RAPID REPONSE GUIDE
APRIL 2020
CONNECTING TO VALUABLE RESOURCES Due to the global health crisis, we are adjusting the way we do business to adhere to the need for social distancing. However, we remain committed to our members and we will temporarily adopt a virtual model of program delivery to support our community of women. The crisis is challenging, however, this is a critical time to keep informed and connected to potential resources that will support your business and help you survive the crisis. If you are in an information overload, join the club. You have probably opened your email and received hundreds of annoucements related to the Pandemic. The WEOP Rapid Response Guide will keep you connected with resources, strategies and valuable suggestions. We welcome your feedback, suggestions and encouarge you to share resources with our community of women. Please reach out to us at hello@weopwomen.com
RESOURCES FOR GRANTS & LOANS ACCESS TO CAPITAL FOR ENTREPRENEURS (ACE) If you have an ACE loan, you will have access to an Emergency Loan Product which provides working capital microloans for current ACE small business clients. If you have a current ACE loan, please contact ACE for additional information: ace.org Amazon announces a $5 million reflief fund, visit: smallbusinessrelieffund.com A Common Thread - Vogue Fashion Fund for Covid-19, visit: CDFA.com FACEBOOK announces a $100 million dollar grant program, visit: facebook.com.business.boost/grants
INVEST ATLANTA Invest Atlanta announces Business Continuity Loan Fund (BCLF)� with $1.5 million of funding from the City of Atlanta. The fund will offer small businesses zero-interest loans to address a lack of working capital and cash flows as a result of reduced consumer demand, the ability to fulfill product or service orders and other economic conditions caused by the COVID-19 economic disruption. Visit the following site: https://www.investatlanta.com/businesscontinuity-loan-fund Google anounces a $800 million dollar grant program for businesses with active ad accounts, visit, google.com
GRANTS: TRUIST FINANCIAL CORPORATION BB & T Bank now Truist: Truist Financial Corporation announced a commitment of $2 million each to LiftFund and Natural Capital Investment Fund, which are Community Development Financial Institutions (CDFIs), to support small businesses affected by the COVID-19 pandemic. visit: liftfund.org *Refer to page #3 of this guide and read about the CDFI programs in your community to identify CDFI programs in your community. Sara Blakely announces a $5 million dollar fund for entrepreneurs,visit the following site: www.spanx.com/the-red-backpack-fund
SMALL BUSINESS ADMINISTRATION (SBA) LOANS If your business has been affected by the coronavirus, you may qualify for disaster relief through new funding from the Small Business Administration (SBA). The SBA loan programs are designed to provide temporary working capital and paycheck protection. The SBA offers the following loan programs: Paycheck Protection, EIDL Emergency grants and a mid-size loan program. Programs are available for non profits and for profit entities. Visit the following site for requirements and detailed information: sba.gov
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COMMUNITY DEVELOPMENT FINANANCIAL INSTITUTIONS Supporting Economic Growth and job creation
Do your reasearch and track federal dollars in your community
You should make yourself aware of additional federal resources allocated in your community.
There are federal programs that support underserved communities. The funds are administered through the Community Development Financial Institutions (CDFI's). CDFI's play an important role in generating economic growth. The funds are available to mission driven financial institutions supporting economically disadvantaged communities. Designated CDFI funds support non profit housing organizations, funds for micro loans, Native American initiatives and business loans that provide capital. For detailed inofmration and to locate a CDFI in your community, visit the following website: www.cdfifund.gov You can locate a list of certified CDFI's and review a searchable database to locate annual award information.
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STRATEGIES COMITTEE ON SMALL BUSINESS The Committee on Small Business (White House) maintains an online site that will keep you updated on current policies, legislation and other vital information that is important for your business. The committe on Small Business Chair person is Nydia M. Velazquez. The site is designed to provide you with important and updated information on activities of the Small Business Committee, visit the following site: smallbusiness.house.gov
BE PROACTIVE AND STAY CONNECTED TO THE LATEST NEWS SMART MOVES We have a special obligation to keep our families and loved ones safe. For this reason, we need to adhere to all of the recommendations from the Centers for Disease Control (CDC). If you have to leave your home, it would make sense for your to track your movements. Keep a log of your activity which includes where you go, the time and who you may come in contact with. This information may be critical if you contract the virus.
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LET'S STAY CONNECTED
"Let's stay connected and continue to share valuable information with our circle of women. Please join weopwomen.com
We never imagined a world where we were isolated from others, especially our loved ones. We can only hope that there is light at end of the tunnel. I now reminisce about the times when we had the opportunity to gather, share, laugh and enjoy each other. I never imagined that it would be taken away so quickly. This is a challenging time for all of us, and it is important for us to use the time wisely. Yes, there will be an economic impact for all of us,
which is why it is so important for us to stay connected. Let's do what it takes to support each other, especially small business owners. We welcome you to our community of women and encourage you to share information, resources that will be beneficial to others in our "Rapid Response Resource "Guide." You can reach out to us at the following address: hello@weopwomen.com
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