January 4th Press Release from Mayor Bowser On Accessing PPP

January 4, 2021

Greetings Small Business Community:

My Administration, with guidance from the Department of Small and Local Business Development (DSLBD), wants to ensure that you—our local businesses—are prepared to take advantage of the much needed extra COVID-19 stimulus funding. Of the $284 billion for the Paycheck Protection Program (PPP), $12 billion will disbursed through Community Development Financial Institutions (CDFI) which will play an important role in supporting the District’s small business community.

As a first step, we strongly encourage you to reach out to your lender and let them know if you are considering applying for loans supported by this new COVID stimulus. If you do not have a preferred lender, the Small Business Administration (SBA) has a list of approved CDFIs and small lenders which is available by visiting: https://www.sba.gov/funding-programs/loans/lender-match.

The SBA is the best source for information about funding options and COVID-related business resources. These funding options and resources can be found by visiting https://www.sba.gov/page/ coronavirus-covid-19-small-business-guidance-loan-resources. You can also reach out to the SBA directly at 800-827-5722 or via mail at answerdesk@sba.gov.

Though we will not be administering these funds, the DLSBD team is ready and available to provide technical support and assistance in the preparation of applications. If you need any additional assistance, please do not hesitate to contact DSLBD’s DC PTAC Team at dslbd.ptac@dc.gov or 202- 727-3900 (select option #7).

Also, the Bowser Administration has been working to protect the residents and businesses who make the District great during this time of COVID. For more information about what the District is doing to help individuals, families, and businesses, or for the latest safety guidance, go to coronavirus.dc.gov. In addition, please know that the next weekly check-in from the Office of the Deputy Mayor for Planning and Economic Development is tomorrow, Tuesday, January 5, 2021 at 4:00 p.m. For more information on how to register or view, please visit: bit.ly/DERTCall0105.

This help has been a long time coming and we encourage everyone in the small business community to submit their applications early. Once again, if you received assistance in the past, please start by reconnecting with your SBA-approved lender. I want to thank you for the resilience you have shown in these dangerous and trying times. And, please remember that my Administration is always here to help you and your business. We are all in this together, and we will all get through this together.

Sincerely,

Muriel Bowser

Mayor