New Relief Efforts for Local Business
Fauquier County announced today that it is adding a new grant program to complement the Emergency Relief Micro Loans already in place to support local businesses during the COVID-19 crisis. Funded by the Fauquier County Economic Development Authority, the new grants can provide up to $2,500 to Micro and Small Businesses anywhere in the County to help them hold on, adapt and survive the current economic downturn.
Miles Friedman
Fauquier County Emergency Micro Loans Available Now
The Fauquier Micro Loan Program has been revamped to serve as an emergency loan program for small businesses in the County in response to the COVID-19 crisis. This fund is now targeted to putting needed resources into the hands of our entrepreneurs swiftly and with a minimum of red tape. It can accommodate adaptive actions that help firms remain solvent and could also supplement the ongoing costs of doing business until other resources become available.
Miles Friedman
Alternative Funding: Beyond the SBA
Here are some alternative funding/assistance sources for small business owners, as shared by the Program Director of the Bank of America Institute for Women's Entrepreneurship at Cornell. Please feel free to share this information with anyone who may find it helpful.
Michelle Coe
EIDL Loans, EIDL Grant, and other Options
We care about you during the unprecedented challenges of the COVID-19 crisis. We are monitoring the legislative changes and analyzing them with respect to their impact on you and your organizations. The SBA is working on guidelines to administer these new programs. As soon as we have more information we will share.
Christine Kriz
Updated 3/31/2020: Coronavirus Aid, Relief, and Economic Security (CARES) Act
Amelia J. Stansell
SBA Economic Injury Disaster Loan Assistance - Can it Really Help Me?
Late Wednesday it was announced that the Virginia Governor had requested emergency disaster funding from the SBA. "Great," you say, "but what does this mean to me?" It means you may qualify for a low interest loan to help your business stay open. This will mean you can pay your employees, rent or mortgage, vendors and keep the lights on through this time. The funds may cover up to six months of expenses to help until things get back to “normal”.
Amelia J. Stansell
Power of Reset
“Reset” has been a big theme of 2019 so far—resetting involves setting back to an initial state—sometimes the baseline of zero, other times simply an adjustment after getting far away from normal. The stock market is also hitting a reset point in 2019. After the worst December performance since 1931, the stock market has rebounded nicely so far this year.
Sarah Yakel
Covered in Mud
Most of our portfolios were covered in mud after a brutal end to 2018. All things stocks took a major hit, and the S&P suffered its worst December since 1929 (!). Negative attention-grabbing headlines are becoming more frequent. The one I’ve seen (and been asked about) most recently is something along the lines of, ‘Likelihood of Recession on the Rise.” That’s actually a true statement, but if you look at the chart below from Federal Reserve Bank of New York, you will see the bigger picture.
Nathan Gilbert
