Details Emerge on Federal Support Small
Businesses Through Paycheck Protection Program
The Paycheck Protection Program provides small businesses with
funds to pay up to 8 weeks of payroll costs including benefits.
Funds can also be used to pay interest on mortgages, rent, and
Funds are provided in the form of loans that will be fully forgiven
when used for payroll costs, interest on mortgages, rent, and
utilities (due to likely high subscription, at least 75% of the
forgiven amount must have been used for payroll). Loan payments
will also be deferred for six months. No collateral or personal
guarantees are required. Neither the government nor lenders will
charge small businesses any fees.
Employees on the Payroll—or Rehire Quickly
Forgiveness is based on the employer maintaining or quickly
rehiring employees and maintaining salary levels. Forgiveness will
be reduced if full-time headcount declines, or if salaries and
Small businesses with 500 or fewer employees—including nonprofits,
veterans organizations, tribal concerns, self-employed individuals,
sole proprietorships, and independent contractors— are eligible.
Businesses with more than 500 employees are eligible in certain
Starting April 3, 2020, small businesses and sole proprietorships
can apply. Starting April 10, 2020, independent contractors and
self-employed individuals can apply. We encourage you to apply as
quickly as you can because there is a funding cap.
You can apply through any existing SBA 7(a) lender or through any
federally insured depository institution, federally insured credit
union, and Farm Credit System institution that is participating.
Other regulated lenders will be available to make these loans once
they are approved and enrolled in the program. You should consult
with your local lender as to whether it is participating. All loans
will have the same terms regardless of lender or borrower. A list
of participating lenders as well as additional information and full
terms can be found at www.sba.gov.
The Paycheck Protection Program is implemented by the Small
Business Administration with support from the Department of the
Treasury. Lenders should also visit www.sba.gov or www.coronavirus.gov for more information.
For the first time, ward-level data was released and is reported
below. For a number of reasons, public health officials caution
residents from drawing strong conclusions based on this data.
With ongoing community
transmission, contact tracing is focused on positive cases
associated with healthcare workers (including first responders),
senior care facilities, correctional and detention centers,
childcare facilities, and facilities serving individuals who are
experiencing homelessness. Guidance has been published for
healthcare providers, employers and the public to provide
information on what to do if you have been diagnosed with or are a
contact of someone who has COVID-19.
District residents are encouraged to STAY AT HOME and take the
following actions to help prevent the spread of COVID-19:
Stay home when you are sick
Avoid close contact with people who are
Wash hands with soap and water for at least
20 seconds. An alcohol-based hand sanitizer can be used if
soap and water are not available
Avoid touching eyes, nose and mouth with
Cover your cough or sneeze with a tissue,
then throw the tissue in the trash
Clean and disinfect frequently touched
objects and surfaces
If you have to leave home for an essential
purpose, practice social distancing and stay six feet apart
It is Census Day!
Today, April 1, is Census Day! Get your
self-response in while you are at home social distancing. Even if
you don't have the letter from the census, you can still
self-respond via phone at 844-330-2020 or online at http://2020Census.gov
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