COVID-19 Relief Information for Small Businesses from U.S. Department of Commerce

The Export-Import Bank (“Ex-Im”) has taken a few steps to increase liquidity in export transactions—among them, it created a new Bridge Loan Program for foreign buyers. More info can be found here.
Fact sheet on the Working Capital guarantee program
- It outlines the new flexibilities Ex-Im is adding to their existing programs as well.
- Ex-Im press release on relief measure
The emergency relief bill that passed the Senate is divided into two sections. The first section covers small business interruption loans and the second covers relief for individuals, families, and businesses.
Small Business Trade Programs (STEP Grants)
- The [SBA] Administrator shall reimburse any recipient of assistance under section 22(l) of the Small Business Act (15 U.S.C. 649(l)) for financial losses relating to a foreign trade mission or a trade show exhibition that was cancelled solely due to a public health emergency declared due to COVID–19 if the reimbursement does not exceed a recipient’s grant funding. It’s Section 1104 in this bill.For an overview of each of their response actions, click here.