News & Updates

April 2, 2020

Prepare Now by Applying for Federal Financial Relief

FOR IMMEDIATE RELEASE
                                     
Wednesday, April 1, 2020
Governor Ivey urges Alabama Small Business Owners
To Prepare Now by Applying for Federal Financial Relief
MONTGOMERY – Governor Kay Ivey on Wednesday urges Alabama Small Business Owners to respond to the COVID-19 (Coronavirus) pandemic by taking steps to ensure their business will withstand the troubling economy.
Final guidelines for how the federal government will distribute financial relief to Alabama’s small businesses will be released very soon. In the meantime, Small Business Owners need to contact their local banker, accountant, financial advisor or credit union today to get the latest details about who is eligible, what documents are needed and how best to apply for funding relief caused by the coronavirus.
“This coronavirus has disrupted life as we know it, including the critical economic role played by Alabama small businesses,” said Governor Kay Ivey. “Only a few short weeks ago, our economy was the strongest it had been in the past 100 years due to the hard work and entrepreneurship of Alabama Small Business Owners. We need our businesses up and running and back at full employment as soon as possible.  I urge business owners to act today and be prepared to apply for assistance designed specifically to get them in front of the line when relief checks are written.”
Attached is information from the SBA that will provide more information.
The U.S. Treasury Department’s website provides specific information regarding the resources being made available related to Coronavirus relief, including initial guidance.
Under the section entitled Assistance for Small Businesses, there are four links entitled:
• Top-Line Overview of Program
• Lender Information
• Borrower Information
• Application for Borrowers
This is preliminary information and additional guidance is expected.


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