USMCA, PPP Trump Administration Accomplishments Bring Small Businesses Real Relief: SBA Administrator Carranza

Small businesses are receiving much-needed economic relief thanks to two extraordinary Trump administration accomplishments: the Paycheck Protection Program (PPP) and the United States-Mexico-Canada-Agreement (USMCA). This week, the highly anticipated USMCA goes into effect. The trade deal will increase demand for US-made goods and services, adding to the more than 230,000 jobs currently supported by North American trade. That’s great news for farmers, manufacturing firms, and small businesses.

As the daughter of first-generation Mexican Americans born in a working-class community in Chicago, I know firsthand how important opportunity is in promoting upward mobility and achieving the American Dream.

Creating new opportunities is the central goal behind President Trump’s new executive order establishing the White House Hispanic Prosperity Initiative — a coalition designed to help Hispanic Americans reach their dreams through innovative educational and career pathways.

The Paycheck Protection Program resumed accepting applications July 6, 2020, at 9:00 AM EDT in response to President Trump signing the program's extension legislation. The new deadline to apply for a Paycheck Protection Program loan is August 8, 2020.

Starting on July 15, 2020, the certification process for Women-Owned Small Businesses (WOSBs) and Economically Disadvantaged WOSBs (EDWOSBs) will begin to change as SBA implements Congress’ changes to the Women-Owned Small Business Federal Contracting Program (WOSB Federal Contracting Program), as put forth in the 2015 National Defense Authorization Act (NDAA). Join this webinar on July 21 to learn about the changes and the options available for obtaining a WOSB certification.

The SBA is hiring temporary employees to assist with disaster relief efforts during these unprecedented times. The positions include:

The HUBZone program fuels the growth of small businesses in historically underutilized business zones (HUBZones) by providing certification for preferential access to federal contracts. Changes are coming to the program which will make it easier for qualified businesses to participate.

Join this webinar on July 14 to increase your awareness and understanding about basic fiduciary responsibilities when operating a retirement or health benefit plan for small and medium sized employers. This webinar, part of a three part series, will help employers and service providers understand how the fiduciary responsibility provisions of the Employee Retirement Income Security Act (ERISA) apply to employer-sponsored retirement and health plans and provide information on how to avoid common problems in managing a plan.

We understand that the COVID-19 pandemic is disrupting your business. We hope to learn how businesses like yours are adapting to the circumstances and how this may or may not be connected to broader weather-related stressors your business may face.

Both your perspective and time are exceptionally precious, especially during these uncertain times. Our efforts will be greatly enhanced if you can spend a few minutes filling out this survey. The purpose of this survey is to understand what support businesses like yours need and to communicate those to those who may be able to provide assistance. We’d like to learn about practices taken that have helped reduce the impact of COVID-19, especially in the face of future hazard events.

The Office of Inspector General recognizes that we are facing unprecedented times and is alerting the public about potential fraud schemes related to economic stimulus programs offered by the U.S. Small Business Administration in response to the Novel Coronavirus Pandemic (COVID-19). The Coronavirus Aid, Relief, and Economic Security (CARES) Act, the largest financial assistance bill to date, includes provisions to help small businesses. Fraudsters have already begun targeting small business owners during these economically difficult times.  Be on the lookout for grant fraud, loan fraud, and phishing.

State, local, and federal agencies are working together to maintain the safety, security, and health of the American people. Check out coronavirus.gov for updates from the White House's Coronavirus (COVID-19) Task Force. Go to cdc.gov for detailed information about COVID-19 from the Centers for Disease Control and Prevention.

Offices around the country may be closed to the Coronavirus pandemic, but SCORE, Small Business Development Centers, Women’s Business Centers, and Veterans Business Outreach Centers and other resource partners are providing free business mentoring and training by phone, email, and video.