With the tough times faced by many as a result of the Covid-19 pandemic, the city of Sedalia wants to make sure that each of its small businesses is aware of the new temporary funding opportunities now available through the Small Business Administration (SBA).
A news release says some of the programs offer extremely low-interest-rate loans; and at least one funding option- the Paycheck Protection Program- may be completely forgiven if 75 percent of the proceeds are used for payroll expenses.
These funding opportunities are designed to rapidly infuse small businesses with much-needed resources to help keep their workforce employed during the crisis.
Small businesses are encouraged to note this opportunity may be exhausted quickly. Several of the city’s local lenders have partnered with the SBA to process these funding requests. You are encouraged to check with your bank to see if it is able to access these programs for you. If your bank is not yet partnered with the SBA, you also can find information on the banking partners through the SBA.
Here is a link to further description of the additional temporary programs presently being offered by the SBA: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options. You also can find more information by contacting the local SBDC office at kasbury1@sfccmo.edu.
Although the city’s offices are closed to the public at this time, the city continues to work hard daily serving the residents and business owners of Sedalia. If there is any way, the city can be of assistance, you are encouraged to call city hall.