COVID-19 Resources

 

 

To protect the health and well-being of our team, effective March 20th, SMSDC will work remotely.

WE ARE OPEN FOR VIRTUAL BUSINESS. Our hours are Monday – Friday 8:30-5:00p.m. CST

  • For NEW Certifications, please contact Alana, alana@smsdc.org. Or call 512.386.8766, Option 1, mobile # 512.297.6478.
  • For Recertifications, please contact Gabrielle, gabrielle@smsdc.org. Or call 512.386.8766, Option 2, mobile # 512.694.0522.
  • For Corporate Services, Marketing and Communications, please contact Mayra, mayra@smsdc.org. Or call 512.386.8766, Option 3, mobile # 915.433.0612.
  • For Operations, please contact Carol, carol@smsdc.org. Or call 512.386.8766, Option 4, mobile # 512.796.5517
  • For the SMSDC President & CEO, please call 512.386.8766, Option 5.

For the latest in the current health crisis, please visit: https://www.coronavirus.gov/

Coronavirus Guidelines for America
https://www.whitehouse.gov/briefings-statements/coronavirus-guidelines-america/

July 17, 2020

The SBA is Accepting New Economic Injury Disaster Loan (EIDL) and EIDL Advance Applications

EIDL Overview:
1. Low-interest loan at 3.75% for for-profit entities; non-profit organizations are eligible at 2.75%;
2. Term for EIDL is up to 30 years and there is a one-year deferral from date of loan approval
3. Loan eligibility is up to $2 million;
4. EIDL Advance is $1,000/employee up to $10,000. EIDL Advance does not have to be repaid and will be deposited directly by the Treasury Department; and
5. All EIDL funding is direct from SBA, does not require third party approval.
6. If an applicant has previously applied and their loan number starts with a “2”, they are encouraged to re-apply.

EIDL Advance: Small business owners in all U.S. states, Washington D.C., and territories are able to apply for an Economic Injury Disaster Loan Advance of up to $10,000. This advance is designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue. This loan advance will not have to be repaid. Recipients do not have to be approved for an EIDL loan in order to receive the advance, but the amount of the loan advance will be deducted from total loan eligibility.

Applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis. Businesses are encouraged to apply immediately to ensure timely processing of applications and access to funding. Read more.

 

NMSDC Secures Partnership to Connect MBEs with PPP Funding
The National Minority Supplier Development Council, Inc. (NMSDC) has partnered with the Business Consortium Fund (BCF) and Midwest BankCentre to assist certified Minority Business Enterprises (MBEs)  in accessing funding through the SBA’s Paycheck Protection Program (PPP). If you are a minority business still in need of PPP funding, visit www.bcfcapital.com/ppp-disclosure for details and to begin your application process.

 

SBA Paycheck Protection Program (PPP) – THERE’S STILL TIME NEW DEADLINE AUGUST 8, 2020 Applications continue to be accepted by SBA Lenders including commercial and community banks, FinTech companies and CDFIs. Go here for a list of approved lenders, to apply for PPP, and to read more. Questions regarding the status of your PPP application can be submitted to your lender directly. If you have applied call SBA’s 24/7 Customer Service Center at 800-659-2955 to check the status of your loan number. Click here to sign up to receive email updates from the SBA.

 

Paycheck Protection Program Flexibility Act
There are changes to the PPP to make it easier for you to receive the loan forgiveness that is so important. These changes have been made under the Paycheck Protection Program Flexibility Act (PPPFA). A few of the major changes:

  • The covered period is now 24 weeks, up from the previous 8 weeks. You may opt to keep the 8 weeks as your covered period.
  • You may now use up to 40% of the PPP funds on non-payroll expenses, although those expenses are still limited to utilities and mortgage interest.
  • The amount of the funds that must be used on payroll has been reduced to 60%, and not the 75%.
  • For any portion of the loan fund that is not forgiven, you now have up to five (5) years to repay, and not the original two (2) years.
  • Read more
  • Click here for the loan forgiveness application.

 

July 14, 2020

City of San Antonio Launches COVID-19 Recovery Grant Program for Small Businesses and Nonprofits

In partnership with the non-profit organization LiftFund, the City of San Antonio is utilizing funding provided from the Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act, to provide financial assistance in form of grants to small businesses and nonprofit organizations impacted financially by COVID-19.

Applications are NOW OPEN and close on Monday, July 27, 2020 at 5 pm CST with $24.7 million available. LiftFund will administer the grants, and all completed applications will be reviewed for basic eligibility.  CLICK HERE TO LEARN MORE

 

June 22, 2020
“Austin, A City of Us” campaign

The campaign, created by Roy Spence of Spence Communications, features “Touch the Sky” by Austin-based Grammy-nominated group Black Pumas and encourages Austinites to be united in the commitment to wear a face mask to protect all of Austin from another spike of COVID-19.  Click here to learn more.

 

June 1, 2020
From the National Office to all Certified MBEs:

NMSDC secures partnership to connect MBEs with PPP Funding. Collaboration between NMSDC Business Consortium Fund and Midwest BankCenter will help Minority-Owned Business Enterprises Navigate SBA Funding Application Process.

June 1, 2020
“MBE Tips From the Trenches During COVID -19” from the National Minority Business Enterprise Input Committee (MBEIC)

Access Publication Here

 

May 18, 2020
Paycheck Protection Program Loan Forgiveness Application

If you recently received the Paycheck Protection Program (PPP) loan, you may now apply for loan forgiveness. Please review the PPP Forgiveness Application published by the SBA and Department of Treasury over the weekend. The enclosed document includes the forms and instructions needed to apply for forgiveness of the PPP loan.
If you have additional questions, you may contact your local SBA office or your current PPP lender.
 

May 14, 2020
Prepare your Small Business and Employees for the Effects of COVID-19

https://www.cdc.gov/coronavirus/2019-ncov/community/guidance-small-business.html

 

May 7, 2020
MBE Capital Partners – Paycheck Protection Loans

Apply Now for a Paycheck Protection Program (PPP) Loan for Coronavirus Relief

The US Government has responded to the COVID-19 pandemic with the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), which includes a new SBA 7(a) Loan Program designed to help franchisees and other small businesses in this time of crisis.

http://mbeppp.com

 

April 24, 2020 URGENT – SBA Alert!   From the NMBEIC Leadership Team

ACTION NEEDED TODAY!
Support Minority Business Enterprises (MBEs) and Minority Lending Institutions for the Payroll Protection Program (PPP)

 

NMSDC Virtual Town Hall Series – Managing in a National Emergency

To stay in touch and to share some useful information, NMSDC has opened an ongoing, network-wide conversation about how businesses are responding to the crisis, through a series of live virtual Town Halls.

Each Town Hall solicits and answers critical questions about how businesses navigate in these difficult days.

  • How are you coping?
  • What can corporate customers do to answer the needs of MBEs?
  • What support do federal, state, and local governments need to offer minority businesses?
  • How are CPOs mitigating risks in their supply chains?
  • Are they working with minority suppliers to reduce impact on their businesses?
  • What strategies are corporations following to limit the risk to minority suppliers?

Visit https://nmsdc.org/townhall/ to sign up for the next Webinar and to visit the recordings of the past Town Hall’s you may have missed.

 

City of El Paso Live Streaming of Bid Openings

In response to the social distancing and public gathering limitations, effective April 8, 2020, Purchasing & Strategic Sourcing will be streaming live each “Bid Opening”.  The day and time for opening bids will remain, Wednesday at 2:00 pm., but will now be broadcast live. This measure will help mitigate traffic into City Hall while improving the experience of our business community.

The hyper link for viewing is https://livestream.com/cityofelpaso1/events/9067994

 

GUIDANCE AND RESOURCES AVAILABLE FROM THE US CHAMBER OF COMMERCE

We will update and add to the links below as new guidance and resources become available

SBA Disaster Recovery Assistance WEBINAR
Tuesday, Wednesday, Thursday at 2 p.m. (MST) Join Skype Meeting

Texas small businesses can now apply for SBA Economic Injury Disaster Loans (EIDL) to help with the COVID-19 crisis. The SBA El Paso District Office will provide the latest information from SBA to help small businesses with their economic recovery.

We will give information on how to apply and where you can get additional help with preparing and applying for an SBA Economic Injury Disaster Loan. Webinars will be held Tuesday, Wednesday and Thursday at 2 p.m. Mountain time.  The information presented on all webinars will be the same, Tuesday and Thursday webinars will be in English, Wednesday webinars will be in Spanish.

Please join at the date and time best for you.  Email lee.vega@sba.gov for more information or call 915-494-7464

Join Skype Meeting
Join by phone- Toll number: +1 (469) 225-3127, 246215135# (Dial-in Number)     Conference ID: 246215135

 

 

Visit the following links for the latest health & business information regarding COVID-19:

New Mexicohttps://gonm.biz/about-us/covid-19-response
http://www.nmsbdc.org/

Oklahomahttps://coronavirus.health.ok.gov
https://horn.house.gov/news/documentsingle.aspx?DocumentID=195

Important information for small businesses in Oklahoma from the Black Chamber of Commerce, Oklahoma City:
https://myemail.constantcontact.com/COVID-19-Update.html?soid=1102513894017&aid=UcK7lZ8c1w4

Texashttps://gov.texas.gov/business/page/coronavirus

Free Tools, Resources and Financial Help for Business Owners Hit by COVID-19

A growing number of companies are offering their online tools, classes and resources at no cost in response to the impact on small business owners from the coronavirus. Below is a list that Inc. is curating and continuously updating.

NMSDC COVID-19: National Office Plan

Our number one priority is to ensure the health, well-being, and safety of the NMSDC staff as concern grows about the spread of the COVID-19 virus.

Effective Friday, March 13, until further notice, the National Office staff will be working remotely. We will be conducting business as usual; however, the office will not be open to guests for in-person meetings.

We want to reassure you that our work will continue, but the staff will be doing that work remotely to serve your needs and keep the mission of NMSDC moving forward. Advanced technology and communication allow us to make this transition, for the good of all concerned.

To continue reading the letter from NMSDC President & CEO, click here.