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Small Biz Focus: It’s a New Year Filled With New Tools To Help Your Business

This article was written by Tara Palacios, Director of BizLaunch, and Alex Held, Small Business Manager, at Arlington Economic Development.

BizLaunch is pleased to officially announce its latest initiative to help small businesses during the health pandemic, ReLaunch, which kicks off this month with a webinar on Jan. 27. As part of the ReLaunch efforts, local businesses will have the opportunity to apply for a complimentary suite of business services and technology assistance to help their business in the upcoming months.

If you’d like to be sent a notification about the upcoming initiative or to learn more about what’s happening in the small business community in Arlington, please sign up for our BizLaunch newsletter. We hope you apply!

Paycheck Protection Program Update

On Monday Jan. 11, the U.S. Small Business Administration (SBA) reopened its Paycheck Protection Program (PPP) for new PPP borrowers. Starting today, small businesses that have received PPP funding previously are able to apply for additional PPP funding accessing what is called a Second Draw PPP Loan.

In order to promote access to capital, only community financial institutions are able to make First Draw and Second Draw PPP loans this week. Community financial institutions include Community Development Financial Institutions (CDFIs), Minority Depository Institutions (MDIs), Certified Development Companies (CDCs) and Microloan Intermediaries. To help borrowers prepare, sample applications for both the First Draw and Second Draw PPP loans are available on the SBA’s website.

In Arlington, two of our CDFI partners, Latino Economic Development Center and ECDC Enterprise Development Group, are both participating in the program, and businesses that don’t currently have a relationship with a 7(a) lender are able to apply. Shortly thereafter, the program will open to all participating PPP lenders, and all eligible businesses will be able to apply for the program. Businesses should consult with their financial institution, and visit the SBA’s website to learn more about the Paycheck Protection Program in order to take advantage of this resource.

For more information about capital resources available through the SBA, visit its website and stay up to date with us by signing up for our email.

Recent Stories

Good Friday evening, Arlington. Let’s take a look back at today’s stories and a look forward to tomorrow’s event calendar. 🕗 News recap The following articles were published earlier today…

An explosives detection K-9 celebrated his retirement at Reagan National Airport today. Messi, an 8-year-old yellow lab, was feted this morning in the historic Terminal 1 lobby with a surprise…

Walk to Lee Heights shops from 1930s Tudor on beautiful terraced lot

Arlington’s response team for people in mental health and substance use crises is on track for a substantial buildout. An additional $478,286 in federal funds would allow Arlington to hire…

The Award is available to recent high school graduates and non-traditional students (see the application for more details). Each recipient may be awarded up to $20,000. Applicants are required to submit an online application form as well as a short video application.

The applicant must be an Arlington resident pursuing a career or technical education accredited program, within a high-growth career, that will be completed within two years.

The careers and programs include, but are not limited to:

  • Audio, Video, and Sound Engineering Technicians

  • Broadcast Technicians

  • Commercial Drivers

  • Culinary Arts

  • Early Childcare Education

  • Healthcare

  • Information Technology and Computer Science

  • Manufacturing and Skilled Trades (including welding, auto and aviation mechanics and technicians)

  • Public Safety

Read More

Submit your own Announcement here.

ACFCU’s Free Homebuying 101 Webinar: Steps to Getting Pre-Approved

Are you ready to jump into homeownership, or have you started considering it but don’t know where to start?

Financial preparation is key when thinking about purchasing your first home and the first step to getting pre-approved. Join ACFCU for

Sweeney Todd

A victim of a gross injustice that robbed him of his wife and child, Sweeney Todd sets about exacting a terrible revenge on society.

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