Gov. Ivey provides direction for small business owners

Published 10:31 am Wednesday, April 1, 2020

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Alabama small business owners should consider federal financial relief.

Today, Governor Kay Ivey urged Alabama small business owners to respond to the COVID-19 (Coronavirus) pandemic by taking necessary steps to ensure business will withstand the troubling economy.

 “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.”

Final guidelines for how the federal government will distribute financial relief to Alabama’s small businesses will be released in the coming days.

In the meantime, Ivey encourages small business owners to contact a local banker, accountant, financial advisor or credit union 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.

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.