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DC grant program opens to entrepreneurs, independent contractors and nonprofits hurting because of COVID-19

March 24, 2020 by FHC Leave a Comment

Maybe you work as an independent contractor. Or, you run a small business out of your home. Perhaps you’re an employer, too. If you’ve lost business to COVID-19, you might be eligible for a DC grant program or a low-interest federal loan.

DC Public Health Emergency Small Business Grant Program

Am I Eligible? You are a DC business enterprise that is both local and small; a non-profit entity, or an independent contractor or self-employed individual ineligible for unemployment insurance. At least 25% revenue loss due to COVID-19.

Suggested Documents: 2017 & 2018 Tax returns (personal returns accepted if business returns unavailable); 2019 Profit & Loss Statement; Schedule of Liabilities

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How Do I Apply? Visit coronavirus.dc.gov/recovery-business.

US Small Business Administration Disaster Loans

Am I Eligible? The SBA offers disaster assistance in the form of low-interest loans to businesses, renters, and homeowners located in regions affectedly declared disasters.

How Much? Up to $2 million loans with repayment beginning 12 months after loan is approved.

How Do I Apply? Visit: sba.gov/funding-programs/disaster-assistance or call 1-800-659-2955.

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