Stimulus Package Information for Small Businesses

The Carlisle Area Chamber of Commerce is working hard to get information on the latest stimulus package to local businesses as soon as final details are confirmed by the Small Business Administration. This is expected to occur in about a week.

In the meantime, here are programs you can participate in to learn more about what you may need to get additional support:

SBA Emergency Loan Webinar Program
As guidance continues to come out regarding PPP and loan forgiveness, the PASBDC has scheduled a weekly SBA Emergency Loan Webinar series Beginning January 14. 
PPP 2nd round series flyer 2021Member Financial Institutions and Accounting Firms
A number of member financial institutions and accounting firms will be hosting programming over the next few weeks.  Please contact your primary lender and CPA to see what they might be doing – if they are offering PPP loans this round, how to take advantage of the tax incentives, etc. 

Financial Institutions -

Accounting Firms -

Pandemic Relief Resources
The US Chamber has updated their guide documents to assist you in navigating these programs. Several webinars walking through the provisions of the bill are also available.

Updated Guide to Emergency Loans
Pandemic Webinar Recordings 
Upcoming Webinar: On January 19, there will be a third webinar to provide further updates on the PPP, EIDL, and other aid programs.

State of American Business Speech: On Tuesday, January 12 at 12:00 PM, the US Chamber of Commerce will hold the 22nd annual State of American Business event exploring how a united business community can rally a divided nation around a widespread economic recovery, restore good governance, and rebuild the economy for the future.

The Next PPP Round
The next round of the Paycheck Protection Program won’t start for a few days--but if you’re planning to apply for a forgivable loan, you need to start preparing right away.
It’s especially true for any small businesses left out in the cold during the program’s runtime last year, including scores of minority-led businesses. The reasons for the short shrift were manifold, including the lack of prior banking relationships, stronger tendencies for informal employee compensation structures, and lower employee headcounts. This time around, you have the benefit of hindsight--and you can take full advantage.

For example: If you tried to get a PPP loan previously but failed to find a lender to take you on, you may want to start searching right away for a fintech company or community lender. Fintech lenders were a lifeline during the first round of PPP, especially for small businesses that didn’t previously have significant relationships with banks. And in this next round of relief, Congress has set aside $15 billion of the program’s available $284 billion for lending by insured depository institutions, credit unions, and farm credit system institutions with consolidated assets of less than $10 billion.

Read this story to learn the six most crucial lessons from the last PPP round that’ll help you secure a loan the second time around.

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