TVEC Member Information
TVEC Announces $15,000 in Bill Payment Assistance Grants
For Individuals - COVID-19 Resources
For Business Owners - COVID-19 Resources
A U.S. Small Business Administration loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis.
This loan advance will provide up to $10,000 of economic relief to businesses that are currently experiencing temporary difficulties.
The U.S. Small Business Administration will automatically pay the principal, interest, and fees of current 7(a), 504, and microloans for a period of six months. The SBA will also automatically pay the principal, interest, and fees of new 7(a), 504, and microloans issued prior to September 27, 2020.
The Act, signed by President Trump on March 18, 2020, provides small and midsize employers refundable tax credits that reimburse them, dollar-for-dollar, for the cost of providing paid sick and family leave wages to their employees for leave related to COVID-19.
The Treasury Department and the Internal Revenue Service launched the Employee Retention Credit, designed to encourage businesses to keep employers on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19.