Monday, March 29, 2021

SBA Raises EIDL Loan Limit to $500,000
& Defers EIDL Payments to 2022

The U.S. Small Business Administration (SBA) is increasing the maximum amount small businesses and non-profit organizations can borrow through its COVID-19 Economic Injury Disaster Loan (EIDL) program. Starting the week of April 6, 2021, the SBA is raising the loan limit for the COVID-19 EIDL program from 6-months of economic injury with a maximum loan amount of $150,000 to up to 24-months of economic injury with a maximum loan amount of $500,000.

“More than 3.7 million businesses employing more than 20 million people have found financial relief through SBA’s Economic Injury Disaster Loans, which provide low-interest emergency working capital to help save their businesses. However, the pandemic has lasted longer than expected, and they need larger loans. Many have called on SBA to remove the $150,000 cap. We are here to help our small businesses and that is why I’m proud to more than triple the amount of funding they can access,” said SBA Administrator Isabella Casillas Guzman.

Businesses that receive a loan subject to the current limits do not need to submit a request for an increase at this time.  SBA will reach out directly via email and provide more details about how businesses can request an increase closer to the April 6 implementation date. Any new loan applications and any loans in process when the new loan limits are implemented will automatically be considered for loans covering 24 months of economic injury up to a maximum of $500,000.

This new relief builds on SBA’s previous March 12, 2021 announcement that the agency would extend deferment periods for all disaster loans, including COVID-19 EIDLs, until 2022 to offer more time for businesses to build back. In order to shift all EIDL payments to 2022, SBA will extend the first payment due date for disaster loans made in 2020 to 24-months from the date of the note and to 18-months from the date of the note for all loans made in the calendar year 2021.

Questions about SBA COVID-19 EIDL and disaster loan payments can be emailed to DisasterCustomerService@sba.gov or directed to SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard of hearing).

Prior to the Shuttered Venue Operators Grant (SVOG) applications opening on April 8, the SBA will host a national informational webinar to highlight the application process for potential eligible entities from 2:30 to 4 p.m. ET on Tuesday, March 30. The SBA will make every effort to address the question categories on the webinar and future FAQs, but cannot provide specific, individual answers.

Tuesday, March 30 • 2:30 p.m. • Register Here

Business Leaders: Share Your Thoughts!
What is your business struggling with?

Participants will be entered to win one of three $100 Amazon gift cards.

 
The Greater Fort Lauderdale Alliance (GFLA) has been compiling data from decision makers throughout Broward County for the last nine years. They want to hear your feedback about our county's business environment, including your biggest opportunities and challenges, and how you are meeting them.
 
The survey results will provide a real assessment of the current economic climate and what you see coming in the next year. GFLA will compare the results to previous years and share the findings.

All responses are kept confidential and tabulated by the independent accounting firm Kaufman Rossin. Participants will be entered to win one of three $100 Amazon gift cards.

Take the 10th Annual Survey Here

LauderDeals Is Back... and Better Than Ever

LauderDeals are special savings for visitors and residents on hotels, spas, dining, and things to do during the summer and beyond. Updated and expanded from last year, LauderDeals invites you to promote your seasonal offers with Visit Lauderdale. There is no registration fee to participate and no gift certificates are required.

Categories include:

• Hotel Deals (June through September)
• Things To Do (June through September)
• DineOut Lauderdale (August and September)
• Spa Days (August and September)
• And year-round promos like FLorida Resident, Military & First Responder, Cruise Deals, Travel Advisor Perks and more

When you participate, benefits include:

• Advertising campaign drives consumers to the LauderDeals web pages where your free deals listing is displayed.
• Public relations campaign focused on generating high impact stories in major media outlets.
• Targeted social media campaign.
• Inclusion in consumer e-newsletter to CVB opted-in database.
• Dedicated listing on sunny.org.
• Direct link to your website.

What is the deadline to sign up? 

• Hotel Deals and Things to Do Deals: Sign up by April 16
• Dine Out Lauderdale and Spa Days: Sign up by June 25

How can your business participate in LauderDeals?

1. View the presentation here
2. Watch the informational webinar here
3. Submit your LauderDeals here

Your LauderDeals will help make Greater Fort Lauderdale the preferred choice, offering unrivaled value and enticing visitors like never before!

Due to the anticipated increase in visitors to Hollywood Beach and pedestrian traffic on the Hollywood Beach Broadwalk during the Spring Break season, the City of Hollywood has modified the Temporary Café Zone. Effective immediately, the distance between the Café Zone area for tables, chairs, etc. and the bike lane will increase to TEN FEET.

We appreciate your cooperation and compliance with these safety measures to protect visitors to the Hollywood Beach Broadwalk and patrons of Hollywood Beach businesses.

In an effort to assist Hollywood businesses heavily impacted by COVID-19 safety measures, the City of Hollywood designated a Temporary Café Zone along the Hollywood Beach Broadwalk. This Temporary Café Zone provides businesses, that comply with all program requirements, the opportunity to expand their dining areas onto the Broadwalk to allow for additional seating while keeping 6 feet between parties. The Hollywood Beach Broadwalk Temporary Café Zone operates from Thursdays at 2:00 p.m. to Sundays at 11:00 p.m.

Additional COVID-19 Resources For Hollywood Businesses Are Available Here